{
  "ticker": {
    "uuid": "d01cfdef-22fe-4de4-b10c-ab007d1965a7",
    "symbol": "AIRB34",
    "name": "Airbnb, 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": "2c",
    "phase_label": "Stage 2C \u00b7 Late 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": 89.146,
    "architecture_energy": 67.822,
    "architecture_maturity": 28.0,
    "architecture_confidence": 72.421,
    "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": 14.83,
        "rotation_up": 73.9,
        "upward_expansion": 84.37,
        "deceleration": 51.66,
        "rotation_down": 11.85,
        "downward_expansion": 11.04
      },
      "activity_lines": [
        39.912667,
        38.594546,
        36.751381,
        35.807656
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 45.240002,
    "trend_reference": 34.827334,
    "distance_from_trend": 0.29898,
    "trend_direction": "Improving",
    "fair_value": 36.065897,
    "distance_from_fair_value": 0.254371,
    "fair_value_direction": "Improving",
    "relative_strength": 25.915801,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.432099,
    "excess_performance": 0.489147,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.29898,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.027931,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.254371,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.281948,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.259158,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.417373,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.432099,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.845538,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 93817,
      "relative_activity": 3.061218,
      "balance": 0.845538,
      "dry_up": 2.183243,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.064171,
      "annualized_volatility": 0.356289,
      "from_high_reference": -0.000221,
      "from_low_reference": 0.508
    },
    "levels": {
      "trend_reference": 34.827334,
      "fair_value_reference": 36.065897,
      "structural_low": 30.1,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": -0.016807,
        "positive_rate": 0.357143,
        "directional_follow_through": 0.357143,
        "median_excess_return": -0.050374,
        "regime_survival": 0.428571,
        "best_return": 0.10908,
        "worst_return": -0.237505,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": -0.02363,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.285714,
        "median_excess_return": -0.062591,
        "regime_survival": 0.571429,
        "best_return": 0.220527,
        "worst_return": -0.123626,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.004268,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.132527,
        "regime_survival": 0.5,
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        "worst_return": -0.135899,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.1257,
        "positive_rate": 0.5,
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        "median_excess_return": -0.037894,
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        "best_return": 0.381359,
        "worst_return": -0.12996,
        "sufficient": false
      }
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        "end": "2025-01-31",
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        "regime": "balance",
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      {
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      {
        "regime": "rotation_down",
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        "active": false
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      {
        "regime": "downward_expansion",
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      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2025-12-19",
        "tenure": "Established",
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        "regime": "rotation_up",
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        "relative_strength": -18.105977,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 16.178347,
        "energy": 16.959541,
        "activity_lines": [
          34.496667,
          33.865273,
          33.761477,
          33.899377
        ]
      },
      {
        "date": "2026-05-08",
        "close": 34.66,
        "volume": 9583,
        "typical_volume": 82270.45,
        "trend": 33.952,
        "fair_value": 35.642949,
        "relative_strength": -15.821543,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 10.993954,
        "energy": 19.555031,
        "activity_lines": [
          34.732,
          34.041818,
          33.795524,
          33.949463
        ]
      },
      {
        "date": "2026-05-15",
        "close": 33.669998,
        "volume": 8618,
        "typical_volume": 77413.6,
        "trend": 33.935333,
        "fair_value": 35.687051,
        "relative_strength": -14.390469,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 6.916437,
        "energy": 16.474107,
        "activity_lines": [
          34.471999,
          34.021091,
          33.750667,
          33.931269
        ]
      },
      {
        "date": "2026-05-22",
        "close": 33.41,
        "volume": 28153,
        "typical_volume": 78637.4,
        "trend": 33.897,
        "fair_value": 35.73109,
        "relative_strength": -14.033201,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 9.174935,
        "energy": 4.971826,
        "activity_lines": [
          34.024666,
          33.974727,
          33.703143,
          33.897376
        ]
      },
      {
        "date": "2026-05-29",
        "close": 33.639999,
        "volume": 47464,
        "typical_volume": 79739.35,
        "trend": 33.881,
        "fair_value": 35.760192,
        "relative_strength": -11.659686,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -11.24297,
        "energy": 7.381944,
        "activity_lines": [
          33.781333,
          33.972545,
          33.688857,
          33.880796
        ]
      },
      {
        "date": "2026-06-05",
        "close": 32.310001,
        "volume": 9782,
        "typical_volume": 79584.05,
        "trend": 33.889333,
        "fair_value": 35.783461,
        "relative_strength": -12.036061,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -45.77845,
        "energy": 25.6083,
        "activity_lines": [
          33.222666,
          33.713454,
          33.565238,
          33.779441
        ]
      },
      {
        "date": "2026-06-12",
        "close": 33.290001,
        "volume": 2365,
        "typical_volume": 58543.2,
        "trend": 33.921,
        "fair_value": 35.798205,
        "relative_strength": -9.869795,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -37.87109,
        "energy": 22.783009,
        "activity_lines": [
          33.14,
          33.630545,
          33.548143,
          33.740774
        ]
      },
      {
        "date": "2026-06-19",
        "close": 36.290001,
        "volume": 543,
        "typical_volume": 49128.3,
        "trend": 34.098334,
        "fair_value": 35.840128,
        "relative_strength": 0.186974,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 17.408762,
        "energy": 8.700621,
        "activity_lines": [
          34.148667,
          34.072909,
          33.824476,
          33.893613
        ]
      },
      {
        "date": "2026-06-26",
        "close": 37.599998,
        "volume": 13030,
        "typical_volume": 47719.95,
        "trend": 34.322334,
        "fair_value": 35.884551,
        "relative_strength": 1.428129,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 38.467872,
        "energy": 43.324567,
        "activity_lines": [
          35.419333,
          34.678363,
          34.214524,
          34.119527
        ]
      },
      {
        "date": "2026-07-03",
        "close": 38.740002,
        "volume": 30377,
        "typical_volume": 29333.65,
        "trend": 34.481,
        "fair_value": 35.929744,
        "relative_strength": 4.237599,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 46.962903,
        "energy": 62.636127,
        "activity_lines": [
          36.790667,
          35.449637,
          34.684524,
          34.404538
        ]
      },
      {
        "date": "2026-07-10",
        "close": 38.0,
        "volume": 37195,
        "typical_volume": 28844.0,
        "trend": 34.588667,
        "fair_value": 35.954038,
        "relative_strength": 0.751685,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 65.920339,
        "energy": 75.114313,
        "activity_lines": [
          37.575334,
          36.028546,
          35.048857,
          34.63157
        ]
      },
      {
        "date": "2026-07-17",
        "close": 37.549999,
        "volume": 92029,
        "typical_volume": 30615.05,
        "trend": 34.577334,
        "fair_value": 35.966859,
        "relative_strength": 2.636576,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 63.357993,
        "energy": 75.62157,
        "activity_lines": [
          37.830667,
          36.462909,
          35.346476,
          34.822624
        ]
      },
      {
        "date": "2026-07-24",
        "close": 35.169998,
        "volume": 65435,
        "typical_volume": 27512.0,
        "trend": 34.472667,
        "fair_value": 35.959808,
        "relative_strength": -3.233479,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.776278,
        "energy": 57.895983,
        "activity_lines": [
          37.008666,
          36.412,
          35.399143,
          34.86086
        ]
      },
      {
        "date": "2026-07-31",
        "close": 38.470001,
        "volume": 16358,
        "typical_volume": 27654.7,
        "trend": 34.562,
        "fair_value": 35.986282,
        "relative_strength": 3.973682,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.408195,
        "energy": 42.932171,
        "activity_lines": [
          37.361333,
          36.933818,
          35.764619,
          35.118753
        ]
      },
      {
        "date": "2026-08-07",
        "close": 45.240002,
        "volume": 93817,
        "typical_volume": 30646.95,
        "trend": 34.827334,
        "fair_value": 36.065897,
        "relative_strength": 25.915801,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.145736,
        "energy": 67.82229,
        "activity_lines": [
          39.912667,
          38.594546,
          36.751381,
          35.807656
        ]
      }
    ],
    "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."
    }
  }
}