{
  "ticker": {
    "uuid": "d71e9c19-1531-485b-b091-2bae977b105e",
    "symbol": "KIN",
    "name": "Kinepolis Group NV",
    "exchange": "BRU",
    "country": "BE",
    "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": "2026-09-25",
    "benchmark": "^BFX",
    "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": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 84.092,
    "architecture_energy": 90.371,
    "architecture_maturity": 50.0,
    "architecture_confidence": 79.639,
    "architecture_tenure": "Established",
    "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": 0.35,
        "rotation_up": 86.06,
        "upward_expansion": 98.0,
        "deceleration": 40.35,
        "rotation_down": 10.08,
        "downward_expansion": 20.0
      },
      "activity_lines": [
        49.283334,
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        39.564966
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 50.400002,
    "trend_reference": 35.142735,
    "distance_from_trend": 0.434151,
    "trend_direction": "Improving",
    "fair_value": 35.408254,
    "distance_from_fair_value": 0.423397,
    "fair_value_direction": "Improving",
    "relative_strength": 47.735238,
    "relative_strength_direction": "Improving",
    "price_momentum": 1.044597,
    "excess_performance": 0.900355,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.434151,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.204284,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.423397,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.391042,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.477352,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.402917,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 1.044597,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.425849,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 232426,
      "relative_activity": 2.308241,
      "balance": 4.425849,
      "dry_up": 2.305567,
      "accumulation_observations": 5,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.036134,
      "annualized_volatility": 0.249406,
      "from_high_reference": -0.025145,
      "from_low_reference": 1.174002
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    "levels": {
      "trend_reference": 35.142735,
      "fair_value_reference": 35.408254,
      "structural_low": 24.503607,
      "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": -0.009837,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": -0.000355,
        "regime_survival": 0.714286,
        "best_return": 0.166466,
        "worst_return": -0.082199,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "regime_survival": 0.333333,
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        "worst_return": -0.132857,
        "sufficient": true
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      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.006695,
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        "directional_follow_through": 0.5,
        "median_excess_return": -0.000544,
        "regime_survival": 0.25,
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        "worst_return": -0.21,
        "sufficient": false
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      {
        "horizon": "Full cycle",
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        "worst_return": -0.322967,
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        "regime": "downward_expansion",
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        "modifier": "Emerging rotation",
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      },
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        "date": "2026-06-12",
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        "date": "2026-06-19",
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        "stage": 2,
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      },
      {
        "date": "2026-06-26",
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      },
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        "date": "2026-07-03",
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      },
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      },
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      },
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        "date": "2026-07-24",
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        "relative_strength": 14.114318,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
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        "trend": 29.858112,
        "fair_value": 35.239341,
        "relative_strength": 22.568862,
        "stage": 2,
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      },
      {
        "date": "2026-08-07",
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      },
      {
        "date": "2026-08-14",
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        "fair_value": 35.198829,
        "relative_strength": 25.978536,
        "stage": 2,
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        "energy": 92.827696,
        "activity_lines": [
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          33.555867
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      },
      {
        "date": "2026-08-21",
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        "volume": 103704,
        "typical_volume": 82205.9,
        "trend": 31.405235,
        "fair_value": 35.217826,
        "relative_strength": 32.572276,
        "stage": 2,
        "regime": "upward_expansion",
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      },
      {
        "date": "2026-08-28",
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        "typical_volume": 90848.35,
        "trend": 32.076351,
        "fair_value": 35.247047,
        "relative_strength": 35.147109,
        "stage": 2,
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        "gate": "up",
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        "activity_lines": [
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          35.420123
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      },
      {
        "date": "2026-09-04",
        "close": 48.549999,
        "volume": 247902,
        "typical_volume": 91602.8,
        "trend": 32.793121,
        "fair_value": 35.296773,
        "relative_strength": 41.399335,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 95.612692,
        "energy": 96.425079,
        "activity_lines": [
          45.783333,
          43.22,
          39.42164,
          36.482939
        ]
      },
      {
        "date": "2026-09-11",
        "close": 48.349998,
        "volume": 248091,
        "typical_volume": 93013.3,
        "trend": 33.5342,
        "fair_value": 35.332749,
        "relative_strength": 43.431926,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.440667,
        "energy": 94.547109,
        "activity_lines": [
          47.059999,
          44.517272,
          40.58327,
          37.486608
        ]
      },
      {
        "date": "2026-09-18",
        "close": 49.700001,
        "volume": 200208,
        "typical_volume": 95904.15,
        "trend": 34.351255,
        "fair_value": 35.371603,
        "relative_strength": 46.481986,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 87.225199,
        "energy": 95.147565,
        "activity_lines": [
          48.329999,
          45.853636,
          41.777153,
          38.529563
        ]
      },
      {
        "date": "2026-09-25",
        "close": 50.400002,
        "volume": 232426,
        "typical_volume": 100694.0,
        "trend": 35.142735,
        "fair_value": 35.408254,
        "relative_strength": 47.735238,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.092413,
        "energy": 90.371419,
        "activity_lines": [
          49.283334,
          47.075454,
          42.943571,
          39.564966
        ]
      }
    ],
    "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."
    }
  }
}