{
  "ticker": {
    "uuid": "901c28fe-de30-42c9-ae7b-27c0716a7dd1",
    "symbol": "VNP",
    "name": "5N Plus Inc.",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 81.202,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "mixed",
    "architecture_direction": -30.733,
    "architecture_energy": 37.239,
    "architecture_maturity": 47.124,
    "architecture_confidence": 55.497,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 37.39,
        "rotation_up": 16.78,
        "upward_expansion": 19.2,
        "deceleration": 64.16,
        "rotation_down": 68.62,
        "downward_expansion": 44.2
      },
      "activity_lines": [
        32.606,
        35.598182,
        37.321667,
        36.137463
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 30.459999,
    "trend_reference": 33.567667,
    "distance_from_trend": -0.092579,
    "trend_direction": "Improving",
    "fair_value": 12.956603,
    "distance_from_fair_value": 1.350925,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.563588,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.100036,
    "excess_performance": -0.020385,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.092579,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.223966,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 1.350925,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.401906,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.025636,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.715649,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.100036,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.418619,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 4674400,
      "relative_activity": 2.108844,
      "balance": 0.418619,
      "dry_up": 1.52842,
      "accumulation_observations": 1,
      "distribution_observations": 5
    },
    "risk": {
      "range_context": 0.173342,
      "annualized_volatility": 0.565549,
      "from_high_reference": -0.390434,
      "from_low_reference": 1.148096
    },
    "levels": {
      "trend_reference": 33.567667,
      "fair_value_reference": 12.956603,
      "structural_low": 25.290001,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.115059,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.094402,
        "regime_survival": 0.285714,
        "best_return": 0.356164,
        "worst_return": -0.20303,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.221212,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.176458,
        "regime_survival": 0.0,
        "best_return": 0.636618,
        "worst_return": 0.002817,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.505922,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.389607,
        "regime_survival": 0.0,
        "best_return": 1.456887,
        "worst_return": 0.180328,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.778952,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.652812,
        "regime_survival": 0.0,
        "best_return": 1.01692,
        "worst_return": 0.540984,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-11-17",
        "end": "2023-12-29",
        "tenure": "Developing",
        "return": 0.118343,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-01-05",
        "end": "2024-02-09",
        "tenure": "Developing",
        "return": 0.215084,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-02-16",
        "end": "2024-07-19",
        "tenure": "Established",
        "return": 0.293981,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-26",
        "end": "2024-08-16",
        "tenure": "New",
        "return": 0.043993,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-08-23",
        "end": "2024-11-22",
        "tenure": "Established",
        "return": -0.021244,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-29",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": 0.223421,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-10",
        "end": "2025-02-21",
        "tenure": "Developing",
        "return": -0.096732,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-02-28",
        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.2,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-21",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.405455,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-16",
        "end": "2025-06-06",
        "tenure": "New",
        "return": 0.027555,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-13",
        "end": "2025-12-12",
        "tenure": "Extended",
        "return": 0.995666,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-12-19",
        "end": "2026-01-16",
        "tenure": "Developing",
        "return": 0.144457,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-01-23",
        "end": "2026-07-10",
        "tenure": "Established",
        "return": 1.085316,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-17",
        "end": "2026-08-07",
        "tenure": "New",
        "return": -0.071907,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 3.62,
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        "typical_volume": 1097340.0,
        "trend": 3.309667,
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      },
      {
        "date": "2023-08-25",
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      },
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      },
      {
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      },
      {
        "date": "2023-09-22",
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        "date": "2024-01-12",
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        "trend": 24.405,
        "fair_value": 9.799423,
        "relative_strength": 66.837129,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
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        "energy": 58.212531,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-08",
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        "trend": 25.069667,
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        "gate": "up",
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      },
      {
        "date": "2026-05-15",
        "close": 40.029999,
        "volume": 2177600,
        "typical_volume": 2254525.0,
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        "fair_value": 10.254167,
        "relative_strength": 82.037392,
        "stage": 2,
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        "modifier": "Established expansion",
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        "energy": 69.34277,
        "activity_lines": [
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          29.34615
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 2353710.0,
        "trend": 26.669333,
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        "relative_strength": 93.998708,
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        "modifier": "Established expansion",
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        "energy": 89.780983,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 2512645.0,
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      },
      {
        "date": "2026-06-05",
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        "fair_value": 11.015641,
        "relative_strength": 68.876143,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "trend": 28.738333,
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        "stage": 2,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 2073475.0,
        "trend": 30.212333,
        "fair_value": 11.735513,
        "relative_strength": 47.146068,
        "stage": 2,
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        "modifier": "Established expansion",
        "gate": "up",
        "direction": 57.409804,
        "energy": 43.195796,
        "activity_lines": [
          40.724,
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        ]
      },
      {
        "date": "2026-07-03",
        "close": 42.970001,
        "volume": 211000,
        "typical_volume": 1955840.0,
        "trend": 31.000667,
        "fair_value": 11.987821,
        "relative_strength": 58.920195,
        "stage": 2,
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        "modifier": "Established expansion",
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        "direction": 65.549027,
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        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-10",
        "close": 40.330002,
        "volume": 2804000,
        "typical_volume": 2015005.0,
        "trend": 31.731,
        "fair_value": 12.223462,
        "relative_strength": 46.068595,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 45.666125,
        "energy": 36.702829,
        "activity_lines": [
          41.095335,
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      },
      {
        "date": "2026-07-17",
        "close": 32.82,
        "volume": 4363600,
        "typical_volume": 2089610.0,
        "trend": 32.229667,
        "fair_value": 12.41141,
        "relative_strength": 17.506903,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 17.76462,
        "energy": 14.401122,
        "activity_lines": [
          38.364668,
          39.745092,
          38.654667,
          36.243764
        ]
      },
      {
        "date": "2026-07-24",
        "close": 33.5,
        "volume": 2068400,
        "typical_volume": 2042885.0,
        "trend": 32.736,
        "fair_value": 12.601795,
        "relative_strength": 18.111856,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 11.243145,
        "energy": 14.444416,
        "activity_lines": [
          36.289334,
          38.450001,
          38.358857,
          36.325721
        ]
      },
      {
        "date": "2026-07-31",
        "close": 32.580002,
        "volume": 2445000,
        "typical_volume": 2087405.0,
        "trend": 33.222,
        "fair_value": 12.786346,
        "relative_strength": 14.066948,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": -5.611488,
        "energy": 22.366248,
        "activity_lines": [
          34.599334,
          37.106364,
          37.950524,
          36.315656
        ]
      },
      {
        "date": "2026-08-07",
        "close": 30.459999,
        "volume": 4674400,
        "typical_volume": 2216570.0,
        "trend": 33.567667,
        "fair_value": 12.956603,
        "relative_strength": 2.563588,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -30.733384,
        "energy": 37.238946,
        "activity_lines": [
          32.606,
          35.598182,
          37.321667,
          36.137463
        ]
      }
    ],
    "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."
    }
  }
}