{
  "ticker": {
    "uuid": "8ef3fbce-5d73-470d-a213-2dd364b36ef6",
    "symbol": "MHM",
    "name": "MyHotelMatch S.A.",
    "exchange": "PAR",
    "country": "FR",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^FCHI",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -66.537,
    "architecture_energy": 83.49,
    "architecture_maturity": 100.0,
    "architecture_confidence": 87.872,
    "architecture_tenure": "Extended",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 7.49,
        "rotation_up": 12.26,
        "upward_expansion": 20.73,
        "deceleration": 37.04,
        "rotation_down": 74.93,
        "downward_expansion": 96.4
      },
      "activity_lines": [
        0.155167,
        0.161464,
        0.168281,
        0.178009
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.833333
    },
    "latest_close": 0.1565,
    "trend_reference": 0.197267,
    "distance_from_trend": -0.206658,
    "trend_direction": "Weakening",
    "fair_value": 0.526279,
    "distance_from_fair_value": -0.702629,
    "fair_value_direction": "Improving",
    "relative_strength": -42.163215,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.378968,
    "excess_performance": -0.43228,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.206658,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.167534,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.702629,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.02751,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.421632,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.017031,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.378968,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.275724,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 11979,
      "relative_activity": 0.121508,
      "balance": 1.275724,
      "dry_up": 0.251365,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.073237,
      "annualized_volatility": 0.521926,
      "from_high_reference": -0.661255,
      "from_low_reference": 0.117857
    },
    "levels": {
      "trend_reference": 0.197267,
      "fair_value_reference": 0.526279,
      "structural_low": 0.14,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 45,
        "median_return": -0.061372,
        "positive_rate": 0.355556,
        "directional_follow_through": 0.644444,
        "median_excess_return": -0.058934,
        "regime_survival": 0.888889,
        "best_return": 0.405797,
        "worst_return": -0.345455,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
        "median_return": -0.087533,
        "positive_rate": 0.4,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.15522,
        "regime_survival": 0.733333,
        "best_return": 0.939759,
        "worst_return": -0.507692,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": -0.225274,
        "positive_rate": 0.125,
        "directional_follow_through": 0.875,
        "median_excess_return": -0.204682,
        "regime_survival": 0.75,
        "best_return": 0.489362,
        "worst_return": -0.582051,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.352233,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.413398,
        "regime_survival": 1.0,
        "best_return": -0.013369,
        "worst_return": -0.714504,
        "sufficient": false
      }
    ],
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        "end": "2023-05-19",
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        "regime": "deceleration",
        "label": "Deceleration",
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        "regime": "rotation_down",
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        "regime": "balance",
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      },
      {
        "date": "2026-07-24",
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        "volume": 76620,
        "typical_volume": 103148.1,
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        "stage": 4,
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        "energy": 52.926169,
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          0.162933,
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          0.173029,
          0.184475
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      },
      {
        "date": "2026-07-31",
        "close": 0.148,
        "volume": 3853,
        "typical_volume": 100724.0,
        "trend": 0.20045,
        "fair_value": 0.537776,
        "relative_strength": -44.923212,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -79.888837,
        "energy": 81.181159,
        "activity_lines": [
          0.156833,
          0.163464,
          0.170055,
          0.180844
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      },
      {
        "date": "2026-08-07",
        "close": 0.1565,
        "volume": 11979,
        "typical_volume": 98585.8,
        "trend": 0.197267,
        "fair_value": 0.526279,
        "relative_strength": -42.163215,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -66.536885,
        "energy": 83.489929,
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          0.155167,
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}