{ "ticker": { "uuid": "bf91ae70-e594-448f-b2b0-ccde0f36d1bf", "symbol": "SANG", "name": "Sangoma Technologies Corp", "exchange": "NASDAQ", "country": "US", "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": "QQQ", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": -6.168, "architecture_energy": 15.57, "architecture_maturity": 16.54, "architecture_confidence": 68.296, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 59.28, "rotation_up": 40.36, "upward_expansion": 34.85, "deceleration": 40.63, "rotation_down": 16.71, "downward_expansion": 40.85 }, "activity_lines": [ 4.051333, 3.948818, 3.890738, 3.9762 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.5 }, "latest_close": 4.02, "trend_reference": 4.146823, "distance_from_trend": -0.030583, "trend_direction": "Weakening", "fair_value": 4.82522, "distance_from_fair_value": -0.166877, "fair_value_direction": "Weakening", "relative_strength": -24.583625, "relative_strength_direction": "Improving", "price_momentum": -0.141942, "excess_performance": -0.329396, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.030583, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.092001, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.166877, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.037631, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.245836, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.076093, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.141942, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.114012, "read": "Demand-led" } ], "volume": { "latest": 29597, "relative_activity": 0.938734, "balance": 1.114012, "dry_up": 1.878672, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.092635, "annualized_volatility": 0.362633, "from_high_reference": -0.377709, "from_low_reference": 0.182353 }, "levels": { "trend_reference": 4.146823, "fair_value_reference": 4.82522, "structural_low": 3.4, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 9, "median_return": -0.041818, "positive_rate": 0.222222, "directional_follow_through": 0.222222, "median_excess_return": -0.06004, "regime_survival": 0.444444, "best_return": 0.22108, "worst_return": -0.178674, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 5, "median_return": 0.011202, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": 0.007639, "regime_survival": 0.4, "best_return": 0.253213, "worst_return": -0.235589, "sufficient": true }, { "horizon": "Extended", "sample_count": 3, "median_return": -0.05292, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.248529, "regime_survival": 0.0, "best_return": 0.321337, "worst_return": -0.227026, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 2, "median_return": 0.006049, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.373453, "regime_survival": 0.0, "best_return": 0.332353, "worst_return": -0.320255, "sufficient": false } ], "ledger": [ { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-03-22", "end": "2024-05-03", "tenure": "Developing", "return": -0.091667, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-05-10", "end": "2024-05-24", "tenure": "New", "return": 0.16092, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-05-31", "end": "2024-07-05", "tenure": "Developing", "return": -0.190311, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-07-12", "end": "2024-09-27", "tenure": "Developing", "return": 0.171198, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-10-04", "end": "2025-02-14", "tenure": "Established", "return": 0.105072, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-02-21", "end": "2025-02-28", "tenure": "New", "return": -0.061049, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-03-07", "end": "2025-03-28", "tenure": "New", "return": -0.092708, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-04-04", "end": "2025-05-23", "tenure": "Developing", "return": 0.307335, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-05-30", "end": "2025-07-04", "tenure": "Developing", "return": 0.160584, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-07-11", "end": "2025-08-01", "tenure": "New", "return": -0.098387, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-08-08", "end": "2025-09-26", "tenure": "Developing", "return": -0.132819, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-10-03", "end": "2025-10-31", "tenure": "Developing", "return": -0.01518, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-11-07", "end": "2026-07-24", "tenure": "Extended", "return": -0.159596, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-31", "end": "2026-08-07", "tenure": "New", "return": 0.008783, "active": true } ], "chart_path": [ { "date": "2023-08-18", "close": 3.75, "volume": 14374, "typical_volume": 32409.9, "trend": 3.777273, "fair_value": 7.998369, "relative_strength": -29.042131, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", 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5951, "typical_volume": 23738.7, "trend": 4.27099, "fair_value": 4.82834, "relative_strength": -27.509219, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -33.403968, "energy": 21.027327, "activity_lines": [ 3.798, 3.727273, 3.849427, 4.016186 ] }, { "date": "2026-07-17", "close": 4.1, "volume": 36825, "typical_volume": 25296.9, "trend": 4.23499, "fair_value": 4.829878, "relative_strength": -22.629964, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -19.666347, "energy": 16.372896, "activity_lines": [ 3.92, 3.793909, 3.859357, 4.005155 ] }, { "date": "2026-07-24", "close": 4.16, "volume": 116861, "typical_volume": 30159.55, "trend": 4.20599, "fair_value": 4.829045, "relative_strength": -19.417324, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -9.035705, "energy": 16.727867, "activity_lines": [ 4.029333, 3.873273, 3.877476, 4.000317 ] }, { "date": "2026-07-31", "close": 3.985, "volume": 53645, "typical_volume": 31863.55, "trend": 4.172823, "fair_value": 4.826256, "relative_strength": -22.370868, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.875715, "energy": 18.401167, "activity_lines": [ 4.043, 3.911364, 3.881262, 3.986059 ] }, { "date": "2026-08-07", "close": 4.02, "volume": 29597, "typical_volume": 31528.65, "trend": 4.146823, "fair_value": 4.82522, "relative_strength": -24.583625, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -6.167701, "energy": 15.569658, "activity_lines": [ 4.051333, 3.948818, 3.890738, 3.9762 ] } ], "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." } } }