{
  "ticker": {
    "uuid": "cad2edf8-ee82-4f07-b816-3c3d83830acd",
    "symbol": "CARM",
    "name": "Carmila 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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 92.095,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 57.674,
    "architecture_energy": 34.61,
    "architecture_maturity": 30.156,
    "architecture_confidence": 62.978,
    "architecture_tenure": "Developing",
    "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": 29.83,
        "rotation_up": 45.05,
        "upward_expansion": 74.98,
        "deceleration": 63.87,
        "rotation_down": 23.03,
        "downward_expansion": 3.98
      },
      "activity_lines": [
        16.788,
        16.752,
        16.500393,
        16.318066
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 16.92,
    "trend_reference": 16.057321,
    "distance_from_trend": 0.053725,
    "trend_direction": "Improving",
    "fair_value": 15.079416,
    "distance_from_fair_value": 0.122059,
    "fair_value_direction": "Improving",
    "relative_strength": -0.22598,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.090776,
    "excess_performance": 0.037464,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.053725,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.029391,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.122059,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.06756,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.00226,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.024022,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.090776,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.799023,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 695561,
      "relative_activity": 1.346084,
      "balance": 0.799023,
      "dry_up": 0.978348,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.038096,
      "annualized_volatility": 0.251341,
      "from_high_reference": -0.020833,
      "from_low_reference": 0.171266
    },
    "levels": {
      "trend_reference": 16.057321,
      "fair_value_reference": 15.079416,
      "structural_low": 14.758355,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 26,
        "median_return": 0.021593,
        "positive_rate": 0.615385,
        "directional_follow_through": 0.615385,
        "median_excess_return": 0.024047,
        "regime_survival": 0.730769,
        "best_return": 0.090677,
        "worst_return": -0.136763,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.013074,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.5,
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        "worst_return": -0.125622,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
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        "worst_return": -0.174838,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
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        "worst_return": -0.114333,
        "sufficient": false
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        "active": false
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        "regime": "upward_expansion",
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      {
        "regime": "deceleration",
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        "tenure": "New",
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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      },
      {
        "regime": "downward_expansion",
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        "date": "2026-04-24",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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      {
        "date": "2026-05-22",
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      {
        "date": "2026-05-29",
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      {
        "date": "2026-06-05",
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      {
        "date": "2026-06-12",
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      },
      {
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      },
      {
        "date": "2026-07-03",
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      },
      {
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        "fair_value": 14.974276,
        "relative_strength": 2.071472,
        "stage": 2,
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        "direction": 56.764764,
        "energy": 46.90544,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 426436,
        "typical_volume": 522549.25,
        "trend": 15.916816,
        "fair_value": 14.993781,
        "relative_strength": 1.82004,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 54.235902,
        "energy": 36.239412,
        "activity_lines": [
          16.677334,
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          16.309225,
          16.153812
        ]
      },
      {
        "date": "2026-07-24",
        "close": 16.559999,
        "volume": 431341,
        "typical_volume": 515066.65,
        "trend": 15.953591,
        "fair_value": 15.020052,
        "relative_strength": 1.327726,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 41.909155,
        "energy": 27.962928,
        "activity_lines": [
          16.636,
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          16.352774,
          16.195307
        ]
      },
      {
        "date": "2026-07-31",
        "close": 16.940001,
        "volume": 468827,
        "typical_volume": 517375.9,
        "trend": 16.003645,
        "fair_value": 15.049962,
        "relative_strength": 2.064633,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 59.965681,
        "energy": 33.685632,
        "activity_lines": [
          16.716,
          16.707273,
          16.430061,
          16.258947
        ]
      },
      {
        "date": "2026-08-07",
        "close": 16.92,
        "volume": 695561,
        "typical_volume": 516729.25,
        "trend": 16.057321,
        "fair_value": 15.079416,
        "relative_strength": -0.22598,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 57.673551,
        "energy": 34.609794,
        "activity_lines": [
          16.788,
          16.752,
          16.500393,
          16.318066
        ]
      }
    ],
    "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."
    }
  }
}