{ "ticker": { "uuid": "9266e309-3625-40d0-94ed-25c6daf91ea0", "symbol": "DCBO", "name": "Docebo 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": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 81.309, "architecture_energy": 78.215, "architecture_maturity": 19.019, "architecture_confidence": 61.813, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 20.35, "rotation_up": 82.07, "upward_expansion": 94.37, "deceleration": 39.08, "rotation_down": 8.81, "downward_expansion": 16.37 }, "activity_lines": [ 29.130667, 27.721091, 26.507286, 26.00357 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 31.09, "trend_reference": 25.636333, "distance_from_trend": 0.212732, "trend_direction": "Weakening", "fair_value": 47.108526, "distance_from_fair_value": -0.340035, "fair_value_direction": "Improving", "relative_strength": -8.932331, "relative_strength_direction": "Improving", "price_momentum": 0.191644, "excess_performance": 0.071223, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.212732, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.047248, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.340035, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.066926, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.089323, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.145567, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.191644, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.249432, "read": "Demand-led" } ], "volume": { "latest": 271900, "relative_activity": 0.756086, "balance": 2.249432, "dry_up": 1.012263, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.083109, "annualized_volatility": 0.578072, "from_high_reference": -0.312776, "from_low_reference": 0.56467 }, "levels": { "trend_reference": 25.636333, "fair_value_reference": 47.108526, "structural_low": 19.870001, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 18, "median_return": -0.036601, "positive_rate": 0.388889, "directional_follow_through": 0.388889, "median_excess_return": -0.050515, "regime_survival": 0.611111, "best_return": 0.258795, "worst_return": -0.163308, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": 0.065437, "positive_rate": 0.571429, "directional_follow_through": 0.571429, "median_excess_return": 0.039594, "regime_survival": 0.142857, "best_return": 0.211365, "worst_return": -0.357192, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.172169, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.194547, "regime_survival": 0.0, "best_return": 0.177056, "worst_return": -0.309148, "sufficient": 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25.186364, 25.046667, 25.15785 ] }, { "date": "2026-07-17", "close": 28.559999, "volume": 361200, "typical_volume": 415275.0, "trend": 25.764667, "fair_value": 47.501987, "relative_strength": -17.362534, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 37.071987, "energy": 38.747008, "activity_lines": [ 26.643333, 25.789091, 25.394095, 25.334602 ] }, { "date": "2026-07-24", "close": 27.370001, "volume": 402900, "typical_volume": 403555.0, "trend": 25.673667, "fair_value": 47.355449, "relative_strength": -19.790905, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 28.090689, "energy": 44.979604, "activity_lines": [ 27.108667, 26.184546, 25.604381, 25.438172 ] }, { "date": "2026-07-31", "close": 28.959999, "volume": 420100, "typical_volume": 375335.0, "trend": 25.612667, "fair_value": 47.220705, "relative_strength": -13.557616, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 68.325988, "energy": 66.933928, "activity_lines": [ 27.909333, 26.803273, 25.961238, 25.650194 ] }, { "date": "2026-08-07", "close": 31.09, "volume": 271900, "typical_volume": 359615.0, "trend": 25.636333, "fair_value": 47.108526, "relative_strength": -8.932331, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 81.309387, "energy": 78.214883, "activity_lines": [ 29.130667, 27.721091, 26.507286, 26.00357 ] } ], "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." } } }