{
  "ticker": {
    "uuid": "b5b06544-d61d-40b3-b7a6-f169cce48acf",
    "symbol": "ALLLN",
    "name": "LleidaNetworks Serveis Telem\u00e0tics, S.A.",
    "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": 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": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "mixed",
    "architecture_direction": 21.585,
    "architecture_energy": 35.192,
    "architecture_maturity": 38.128,
    "architecture_confidence": 65.214,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 45.41,
        "rotation_up": 64.65,
        "upward_expansion": 41.91,
        "deceleration": 44.5,
        "rotation_down": 14.1,
        "downward_expansion": 16.91
      },
      "activity_lines": [
        1.166,
        1.123455,
        1.105762,
        1.115806
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 1.11,
    "trend_reference": 1.140333,
    "distance_from_trend": -0.0266,
    "trend_direction": "Weakening",
    "fair_value": 1.149109,
    "distance_from_fair_value": -0.034034,
    "fair_value_direction": "Weakening",
    "relative_strength": -19.938517,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.051282,
    "excess_performance": -0.104593,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.0266,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.079139,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.034034,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.006514,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.199385,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.058693,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.051282,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.787578,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 38881,
      "relative_activity": 6.001358,
      "balance": 0.787578,
      "dry_up": 3.477704,
      "accumulation_observations": 3,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.060291,
      "annualized_volatility": 0.301687,
      "from_high_reference": -0.383333,
      "from_low_reference": 0.088235
    },
    "levels": {
      "trend_reference": 1.140333,
      "fair_value_reference": 1.149109,
      "structural_low": 1.02,
      "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": 6,
        "median_return": -0.110475,
        "positive_rate": 0.166667,
        "directional_follow_through": 0.166667,
        "median_excess_return": -0.102151,
        "regime_survival": 0.333333,
        "best_return": 0.042553,
        "worst_return": -0.266129,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.176635,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.196056,
        "regime_survival": 0.0,
        "best_return": 0.048387,
        "worst_return": -0.376914,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.260209,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.254041,
        "regime_survival": 0.0,
        "best_return": -0.015385,
        "worst_return": -0.509084,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.032258,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.055835,
        "regime_survival": 0.333333,
        "best_return": 0.0,
        "worst_return": -0.564469,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-24",
        "end": "2024-07-05",
        "tenure": "Developing",
        "return": -0.076923,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-12",
        "end": "2024-10-25",
        "tenure": "Established",
        "return": -0.068966,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-01",
        "end": "2024-11-22",
        "tenure": "New",
        "return": -0.12069,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-29",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": 0.098039,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-02-07",
        "end": "2025-02-21",
        "tenure": "New",
        "return": -0.076923,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-28",
        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.033333,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-21",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.107143,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-16",
        "end": "2025-06-20",
        "tenure": "Developing",
        "return": -0.079365,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-27",
        "end": "2025-07-25",
        "tenure": "Developing",
        "return": 0.215517,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-01",
        "end": "2025-10-03",
        "tenure": "Developing",
        "return": 0.241935,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-10",
        "end": "2025-12-19",
        "tenure": "Developing",
        "return": -0.098684,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-12-26",
        "end": "2026-01-23",
        "tenure": "Developing",
        "return": 0.056,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-30",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": -0.119048,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": -0.059322,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 1.11,
        "volume": 14270,
        "typical_volume": 2903.8,
        "trend": 1.8571,
        "fair_value": 4.085215,
        "relative_strength": -45.284767,
        "stage": 4,
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        "modifier": "Established contraction",
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        "energy": 98.951644,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
        "close": 1.16,
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      },
      {
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      },
      {
        "date": "2023-09-08",
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      },
      {
        "date": "2023-09-15",
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      },
      {
        "date": "2023-09-22",
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        "date": "2023-10-20",
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        "date": "2024-01-19",
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        "energy": 40.561231,
        "activity_lines": [
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          1.153818,
          1.174333,
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 1.16,
        "volume": 105,
        "typical_volume": 2088.5,
        "trend": 1.286667,
        "fair_value": 1.192827,
        "relative_strength": -14.069254,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 41.404233,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "volume": 15352,
        "typical_volume": 2702.95,
        "trend": 1.272333,
        "fair_value": 1.188244,
        "relative_strength": -18.159077,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -84.245817,
        "energy": 62.219483,
        "activity_lines": [
          1.136,
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          1.159429,
          1.19871
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      },
      {
        "date": "2026-05-22",
        "close": 1.06,
        "volume": 10771,
        "typical_volume": 2906.15,
        "trend": 1.255667,
        "fair_value": 1.183564,
        "relative_strength": -21.029824,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -88.120883,
        "energy": 88.024315,
        "activity_lines": [
          1.106667,
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          1.185011
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      },
      {
        "date": "2026-05-29",
        "close": 1.06,
        "volume": 6608,
        "typical_volume": 3120.8,
        "trend": 1.238333,
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        "relative_strength": -21.403988,
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        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 90.662712,
        "activity_lines": [
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          1.136476,
          1.172387
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      },
      {
        "date": "2026-06-05",
        "close": 1.04,
        "volume": 60,
        "typical_volume": 3032.95,
        "trend": 1.222667,
        "fair_value": 1.175455,
        "relative_strength": -22.946789,
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        "modifier": "Established contraction",
        "gate": "down",
        "direction": -82.778964,
        "energy": 93.145251,
        "activity_lines": [
          1.062667,
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      },
      {
        "date": "2026-06-12",
        "close": 1.02,
        "volume": 0,
        "typical_volume": 2882.45,
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        "relative_strength": -25.308593,
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        "regime": "downward_expansion",
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        "gate": "down",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -25.654564,
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        "energy": 91.582605,
        "activity_lines": [
          1.032,
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      },
      {
        "date": "2026-06-26",
        "close": 1.04,
        "volume": 0,
        "typical_volume": 2529.6,
        "trend": 1.177333,
        "fair_value": 1.163244,
        "relative_strength": -23.627481,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.370529,
        "energy": 86.958887,
        "activity_lines": [
          1.032,
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          1.092381,
          1.12471
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      },
      {
        "date": "2026-07-03",
        "close": 1.06,
        "volume": 0,
        "typical_volume": 2484.75,
        "trend": 1.166667,
        "fair_value": 1.159622,
        "relative_strength": -22.976484,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -66.441947,
        "energy": 66.642054,
        "activity_lines": [
          1.04,
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          1.086667,
          1.11714
        ]
      },
      {
        "date": "2026-07-10",
        "close": 1.06,
        "volume": 1698,
        "typical_volume": 2354.0,
        "trend": 1.155667,
        "fair_value": 1.156481,
        "relative_strength": -21.16943,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.934443,
        "energy": 63.353566,
        "activity_lines": [
          1.048,
          1.048364,
          1.081524,
          1.110258
        ]
      },
      {
        "date": "2026-07-17",
        "close": 1.11,
        "volume": 7240,
        "typical_volume": 2610.7,
        "trend": 1.147,
        "fair_value": 1.15334,
        "relative_strength": -17.236554,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -40.141879,
        "energy": 33.579715,
        "activity_lines": [
          1.071333,
          1.057455,
          1.08181,
          1.107312
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.18,
        "volume": 7056,
        "typical_volume": 2863.0,
        "trend": 1.144667,
        "fair_value": 1.151801,
        "relative_strength": -11.958105,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "down",
        "direction": 8.802052,
        "energy": 28.785841,
        "activity_lines": [
          1.112,
          1.080182,
          1.089095,
          1.109441
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1.28,
        "volume": 36947,
        "typical_volume": 4626.6,
        "trend": 1.146667,
        "fair_value": 1.150904,
        "relative_strength": -5.881294,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 54.11206,
        "energy": 55.018448,
        "activity_lines": [
          1.175333,
          1.119273,
          1.10581,
          1.118172
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.11,
        "volume": 38881,
        "typical_volume": 6478.7,
        "trend": 1.140333,
        "fair_value": 1.149109,
        "relative_strength": -19.938517,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 21.585302,
        "energy": 35.192122,
        "activity_lines": [
          1.166,
          1.123455,
          1.105762,
          1.115806
        ]
      }
    ],
    "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."
    }
  }
}