{
  "ticker": {
    "uuid": "adeb1c81-fd26-4127-b0bf-338ff6f7e40a",
    "symbol": "EBAY34",
    "name": "eBay Inc.",
    "exchange": "SAO",
    "country": "BR",
    "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": "^BVSP",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 50.509,
    "architecture_energy": 30.726,
    "architecture_maturity": 66.118,
    "architecture_confidence": 95.098,
    "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": 27.16,
        "rotation_up": 34.84,
        "upward_expansion": 62.11,
        "deceleration": 85.5,
        "rotation_down": 27.58,
        "downward_expansion": 21.11
      },
      "activity_lines": [
        285.207339,
        286.308006,
        282.28635,
        272.450276
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 290.410004,
    "trend_reference": 260.697746,
    "distance_from_trend": 0.113972,
    "trend_direction": "Improving",
    "fair_value": 186.234013,
    "distance_from_fair_value": 0.559382,
    "fair_value_direction": "Improving",
    "relative_strength": 11.494119,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.187929,
    "excess_performance": 0.244978,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.113972,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.084932,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.559382,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.03284,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.114941,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.165223,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.187929,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.768018,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 340,
      "relative_activity": 2.164227,
      "balance": 4.768018,
      "dry_up": 0.816359,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.042631,
      "annualized_volatility": 0.361779,
      "from_high_reference": -0.032805,
      "from_low_reference": 0.404036
    },
    "levels": {
      "trend_reference": 260.697746,
      "fair_value_reference": 186.234013,
      "structural_low": 206.839404,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.047575,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": -0.012059,
        "regime_survival": 0.428571,
        "best_return": 0.099578,
        "worst_return": -0.169231,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.00509,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.133958,
        "regime_survival": 0.25,
        "best_return": 0.087251,
        "worst_return": -0.076196,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.051763,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.205159,
        "regime_survival": 0.0,
        "best_return": 0.118646,
        "worst_return": -0.092292,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.136849,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.075619,
        "regime_survival": 0.5,
        "best_return": 0.199232,
        "worst_return": 0.074467,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-01",
        "end": "2024-11-15",
        "tenure": "Extended",
        "return": 0.540934,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-22",
        "end": "2024-11-29",
        "tenure": "New",
        "return": 0.082876,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-12-06",
        "end": "2025-03-14",
        "tenure": "Established",
        "return": -0.034737,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-21",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": 0.091771,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-30",
        "end": "2025-09-19",
        "tenure": "Established",
        "return": 0.113058,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-26",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.11815,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-11-28",
        "end": "2025-12-19",
        "tenure": "New",
        "return": 0.041837,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-12-26",
        "end": "2026-01-02",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-09",
        "end": "2026-01-16",
        "tenure": "New",
        "return": 0.043436,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-23",
        "end": "2026-02-06",
        "tenure": "New",
        "return": -0.01792,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-02-13",
        "end": "2026-03-13",
        "tenure": "Developing",
        "return": 0.114914,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-20",
        "end": "2026-04-17",
        "tenure": "Developing",
        "return": 0.08811,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-24",
        "end": "2026-07-31",
        "tenure": "Established",
        "return": 0.117786,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 224.5,
        "trend": 109.139272,
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        "date": "2026-05-08",
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "trend": 253.748602,
        "fair_value": 181.667054,
        "relative_strength": 9.865123,
        "stage": 2,
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        "modifier": "Established expansion",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 285.880005,
        "volume": 13,
        "typical_volume": 134.25,
        "trend": 255.73176,
        "fair_value": 182.781651,
        "relative_strength": 8.173641,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 62.327868,
        "energy": 62.565781,
        "activity_lines": [
          290.700008,
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          278.184926,
          267.565851
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      },
      {
        "date": "2026-07-24",
        "close": 273.0,
        "volume": 90,
        "typical_volume": 136.6,
        "trend": 257.285585,
        "fair_value": 183.868993,
        "relative_strength": 3.287629,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 49.952403,
        "energy": 47.822534,
        "activity_lines": [
          285.349339,
          285.848873,
          278.831158,
          268.679931
        ]
      },
      {
        "date": "2026-07-31",
        "close": 284.540009,
        "volume": 70,
        "typical_volume": 140.1,
        "trend": 259.224077,
        "fair_value": 185.040445,
        "relative_strength": 5.668981,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 44.611419,
        "energy": 35.202616,
        "activity_lines": [
          284.458673,
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          280.396618,
          270.438281
        ]
      },
      {
        "date": "2026-08-07",
        "close": 290.410004,
        "volume": 340,
        "typical_volume": 157.1,
        "trend": 260.697746,
        "fair_value": 186.234013,
        "relative_strength": 11.494119,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 50.509487,
        "energy": 30.725955,
        "activity_lines": [
          285.207339,
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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."
    }
  }
}