{
  "ticker": {
    "uuid": "b32961a5-39db-494d-8b9a-7c5ebaa891ae",
    "symbol": "ARG",
    "name": "Argan SA",
    "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": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 80.624,
    "architecture_energy": 92.97,
    "architecture_maturity": 20.909,
    "architecture_confidence": 79.888,
    "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": 15.12,
        "rotation_up": 87.15,
        "upward_expansion": 100.0,
        "deceleration": 39.0,
        "rotation_down": 8.0,
        "downward_expansion": 22.0
      },
      "activity_lines": [
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        63.539517
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 74.199997,
    "trend_reference": 62.544103,
    "distance_from_trend": 0.186363,
    "trend_direction": "Improving",
    "fair_value": 62.667875,
    "distance_from_fair_value": 0.18402,
    "fair_value_direction": "Improving",
    "relative_strength": 11.571413,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.211803,
    "excess_performance": 0.158491,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.186363,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.020596,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.18402,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.199656,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.115714,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.127831,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.211803,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.061498,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 78305,
      "relative_activity": 1.003499,
      "balance": 4.061498,
      "dry_up": 1.982001,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.042401,
      "annualized_volatility": 0.330887,
      "from_high_reference": -0.051151,
      "from_low_reference": 0.367486
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    "levels": {
      "trend_reference": 62.544103,
      "fair_value_reference": 62.667875,
      "structural_low": 54.260166,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 17,
        "median_return": -0.012681,
        "positive_rate": 0.352941,
        "directional_follow_through": 0.352941,
        "median_excess_return": -0.023786,
        "regime_survival": 0.529412,
        "best_return": 0.040219,
        "worst_return": -0.170183,
        "sufficient": true
      },
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        "horizon": "Intermediate",
        "sample_count": 8,
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        "worst_return": -0.227731,
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        "horizon": "Extended",
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        "volume": 59866,
        "typical_volume": 93756.15,
        "trend": 61.529839,
        "fair_value": 62.374937,
        "relative_strength": -2.345279,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -31.958134,
        "energy": 17.154786,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 91881.4,
        "trend": 61.547836,
        "fair_value": 62.377033,
        "relative_strength": -1.375623,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "direction": -25.278343,
        "energy": 22.285233,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 61.400002,
        "volume": 68583,
        "typical_volume": 88629.4,
        "trend": 61.575446,
        "fair_value": 62.375353,
        "relative_strength": -1.211711,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -22.968242,
        "energy": 21.270705,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 59.200001,
        "volume": 69373,
        "typical_volume": 90715.6,
        "trend": 61.492043,
        "fair_value": 62.357914,
        "relative_strength": -2.841288,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -37.275671,
        "energy": 15.792154,
        "activity_lines": [
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          60.848636,
          61.083904
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      },
      {
        "date": "2026-05-22",
        "close": 60.799999,
        "volume": 62778,
        "typical_volume": 90973.95,
        "trend": 61.361491,
        "fair_value": 62.35294,
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        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -29.544665,
        "energy": 12.729602,
        "activity_lines": [
          60.573334,
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      },
      {
        "date": "2026-05-29",
        "close": 61.200001,
        "volume": 79076,
        "typical_volume": 89415.4,
        "trend": 61.281954,
        "fair_value": 62.346114,
        "relative_strength": -2.318655,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -36.351285,
        "energy": 15.1354,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-05",
        "close": 58.799999,
        "volume": 12419,
        "typical_volume": 86186.75,
        "trend": 61.144396,
        "fair_value": 62.32335,
        "relative_strength": -6.453689,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "energy": 26.831059,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 59.900002,
        "volume": 10286,
        "typical_volume": 81868.0,
        "trend": 61.049786,
        "fair_value": 62.302118,
        "relative_strength": -6.110523,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-06-19",
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        "regime": "balance",
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        "energy": 37.079927,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 74480.2,
        "trend": 60.919839,
        "fair_value": 62.317993,
        "relative_strength": -5.146652,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -45.895745,
        "energy": 35.946351,
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          59.826666,
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          60.633166
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      },
      {
        "date": "2026-07-03",
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        "volume": 9550,
        "typical_volume": 69445.65,
        "trend": 60.98257,
        "fair_value": 62.327069,
        "relative_strength": -4.534513,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -19.736173,
        "energy": 9.010552,
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      },
      {
        "date": "2026-07-10",
        "close": 61.700001,
        "volume": 49440,
        "typical_volume": 66727.25,
        "trend": 61.067282,
        "fair_value": 62.328416,
        "relative_strength": -2.542066,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -8.406447,
        "energy": 9.013492,
        "activity_lines": [
          60.993334,
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          60.428635,
          60.729784
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      },
      {
        "date": "2026-07-17",
        "close": 64.0,
        "volume": 80085,
        "typical_volume": 65788.1,
        "trend": 61.19726,
        "fair_value": 62.359965,
        "relative_strength": 1.085608,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 32.17853,
        "energy": 39.830576,
        "activity_lines": [
          62.133334,
          61.201818,
          60.763291,
          60.918992
        ]
      },
      {
        "date": "2026-07-24",
        "close": 75.199997,
        "volume": 290801,
        "typical_volume": 75286.35,
        "trend": 61.69115,
        "fair_value": 62.471036,
        "relative_strength": 18.013155,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 92.648066,
        "energy": 89.294565,
        "activity_lines": [
          66.733333,
          63.84,
          62.178792,
          61.822395
        ]
      },
      {
        "date": "2026-07-31",
        "close": 76.300003,
        "volume": 169447,
        "typical_volume": 78964.95,
        "trend": 62.193447,
        "fair_value": 62.582535,
        "relative_strength": 17.568342,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 95.206977,
        "energy": 97.653663,
        "activity_lines": [
          70.626667,
          66.387273,
          63.636574,
          62.764901
        ]
      },
      {
        "date": "2026-08-07",
        "close": 74.199997,
        "volume": 78305,
        "typical_volume": 78032.0,
        "trend": 62.544103,
        "fair_value": 62.667875,
        "relative_strength": 11.571413,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 80.624162,
        "energy": 92.970127,
        "activity_lines": [
          72.766666,
          68.270909,
          64.812281,
          63.539517
        ]
      }
    ],
    "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."
    }
  }
}