{
  "ticker": {
    "uuid": "9929b9b3-3247-463c-91eb-faa4bd631cec",
    "symbol": "EXA",
    "name": "Exail Technologies",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 40.572,
    "architecture_energy": 26.032,
    "architecture_maturity": 20.683,
    "architecture_confidence": 82.709,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 42.45,
        "rotation_up": 59.03,
        "upward_expansion": 74.96,
        "deceleration": 42.34,
        "rotation_down": 11.77,
        "downward_expansion": 8.96
      },
      "activity_lines": [
        124.419998,
        122.01818,
        121.550951,
        121.856128
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 124.599998,
    "trend_reference": 120.556666,
    "distance_from_trend": 0.033539,
    "trend_direction": "Improving",
    "fair_value": 56.172885,
    "distance_from_fair_value": 1.218152,
    "fair_value_direction": "Weakening",
    "relative_strength": 7.279079,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.13479,
    "excess_performance": 0.081479,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.033539,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.11177,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 1.218152,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.078935,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.072791,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.000676,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.13479,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.85816,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 236799,
      "relative_activity": 0.686569,
      "balance": 5.85816,
      "dry_up": 0.746908,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.103068,
      "annualized_volatility": 0.745593,
      "from_high_reference": -0.217337,
      "from_low_reference": 0.762376
    },
    "levels": {
      "trend_reference": 120.556666,
      "fair_value_reference": 56.172885,
      "structural_low": 90.449997,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.017083,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.014556,
        "regime_survival": 0.5,
        "best_return": 0.23161,
        "worst_return": -0.165376,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.054444,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": -0.002918,
        "regime_survival": 0.285714,
        "best_return": 1.434141,
        "worst_return": -0.210934,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.017167,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.004841,
        "regime_survival": 0.4,
        "best_return": 3.707288,
        "worst_return": -0.086245,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.260687,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.311021,
        "regime_survival": 0.25,
        "best_return": 4.203106,
        "worst_return": -0.140041,
        "sufficient": false
      }
    ],
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        "regime": "downward_expansion",
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        "color": "red",
        "start": "2024-07-12",
        "end": "2024-10-18",
        "tenure": "Established",
        "return": -0.083851,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2024-11-15",
        "tenure": "New",
        "return": 0.052222,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "downward_expansion",
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      {
        "regime": "balance",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-09-05",
        "tenure": "Extended",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.282383,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
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      {
        "regime": "downward_expansion",
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        "typical_volume": 417032.05,
        "trend": 103.383333,
        "fair_value": 46.956151,
        "relative_strength": 22.706153,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.95253,
        "energy": 18.676206,
        "activity_lines": [
          122.493333,
          124.64,
          121.111905,
          113.41914
        ]
      },
      {
        "date": "2026-05-08",
        "close": 109.199997,
        "volume": 368299,
        "typical_volume": 424199.1,
        "trend": 104.03,
        "fair_value": 47.538464,
        "relative_strength": 7.346712,
        "stage": 2,
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        "modifier": "Recompressing",
        "gate": "up",
        "direction": 21.272715,
        "energy": 15.179142,
        "activity_lines": [
          117.559998,
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 110.099998,
        "volume": 292271,
        "typical_volume": 433432.9,
        "trend": 104.983333,
        "fair_value": 48.127304,
        "relative_strength": 9.19493,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 6.482942,
        "energy": 10.991261,
        "activity_lines": [
          114.513331,
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      },
      {
        "date": "2026-05-22",
        "close": 127.5,
        "volume": 396140,
        "typical_volume": 445448.65,
        "trend": 106.416666,
        "fair_value": 48.83185,
        "relative_strength": 22.503465,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 25.016989,
        "energy": 13.399599,
        "activity_lines": [
          118.146665,
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          121.10619,
          115.638709
        ]
      },
      {
        "date": "2026-05-29",
        "close": 143.699997,
        "volume": 442824,
        "typical_volume": 433309.5,
        "trend": 108.436666,
        "fair_value": 49.640621,
        "relative_strength": 35.126609,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 60.914852,
        "energy": 29.513535,
        "activity_lines": [
          126.719998,
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          118.044085
        ]
      },
      {
        "date": "2026-06-05",
        "close": 131.800003,
        "volume": 38064,
        "typical_volume": 404298.0,
        "trend": 110.306666,
        "fair_value": 50.375761,
        "relative_strength": 22.164789,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 50.228058,
        "energy": 36.948651,
        "activity_lines": [
          129.713333,
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      },
      {
        "date": "2026-06-12",
        "close": 100.599998,
        "volume": 501580,
        "typical_volume": 412872.0,
        "trend": 111.013333,
        "fair_value": 50.906987,
        "relative_strength": -8.475613,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "volume": 109809,
        "typical_volume": 398843.8,
        "trend": 112.09,
        "fair_value": 51.484295,
        "relative_strength": -2.470925,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 116.699997,
        "volume": 474654,
        "typical_volume": 399508.2,
        "trend": 113.453333,
        "fair_value": 52.117628,
        "relative_strength": 5.154455,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 12.372702,
        "energy": 14.908268,
        "activity_lines": [
          115.053333,
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          120.695238,
          119.047526
        ]
      },
      {
        "date": "2026-07-03",
        "close": 122.5,
        "volume": 55090,
        "typical_volume": 392092.5,
        "trend": 114.783333,
        "fair_value": 52.790705,
        "relative_strength": 8.348412,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 13.914657,
        "energy": 17.75211,
        "activity_lines": [
          115.813333,
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          120.737619,
          119.631182
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      },
      {
        "date": "2026-07-10",
        "close": 123.900002,
        "volume": 873977,
        "typical_volume": 415899.95,
        "trend": 116.01,
        "fair_value": 53.46891,
        "relative_strength": 11.357588,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 21.096907,
        "energy": 11.029748,
        "activity_lines": [
          118.453334,
          119.681818,
          120.860476,
          120.219355
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      },
      {
        "date": "2026-07-17",
        "close": 124.199997,
        "volume": 328286,
        "typical_volume": 413524.4,
        "trend": 117.356666,
        "fair_value": 54.149936,
        "relative_strength": 11.368506,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 34.622311,
        "energy": 16.990875,
        "activity_lines": [
          121.719999,
          120.54909,
          121.006666,
          120.747742
        ]
      },
      {
        "date": "2026-07-24",
        "close": 124.199997,
        "volume": 277085,
        "typical_volume": 399029.8,
        "trend": 118.773333,
        "fair_value": 54.827372,
        "relative_strength": 10.979833,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 28.108297,
        "energy": 18.309498,
        "activity_lines": [
          123.413332,
          121.143635,
          121.152856,
          121.189247
        ]
      },
      {
        "date": "2026-07-31",
        "close": 124.599998,
        "volume": 188270,
        "typical_volume": 376359.1,
        "trend": 120.09,
        "fair_value": 55.503654,
        "relative_strength": 9.713861,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 39.662712,
        "energy": 22.84953,
        "activity_lines": [
          124.179998,
          121.554544,
          121.344761,
          121.565161
        ]
      },
      {
        "date": "2026-08-07",
        "close": 124.599998,
        "volume": 236799,
        "typical_volume": 344901.75,
        "trend": 120.556666,
        "fair_value": 56.172885,
        "relative_strength": 7.279079,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 40.571931,
        "energy": 26.031513,
        "activity_lines": [
          124.419998,
          122.01818,
          121.550951,
          121.856128
        ]
      }
    ],
    "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."
    }
  }
}