{
  "ticker": {
    "uuid": "db3202dd-7416-45f8-9a47-8d18a56dc92f",
    "symbol": "AMUND",
    "name": "Almunda Professionals N.V.",
    "exchange": "AMS",
    "country": "NL",
    "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": "2026-10-09",
    "benchmark": "^AEX",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -74.558,
    "architecture_energy": 45.15,
    "architecture_maturity": 24.593,
    "architecture_confidence": 84.562,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 22.43,
        "rotation_up": 16.47,
        "upward_expansion": 4.74,
        "deceleration": 56.45,
        "rotation_down": 58.34,
        "downward_expansion": 75.74
      },
      "activity_lines": [
        0.990667,
        1.002909,
        1.036801,
        1.049215
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 0.93,
    "trend_reference": 1.058241,
    "distance_from_trend": -0.121183,
    "trend_direction": "Weakening",
    "fair_value": 1.104554,
    "distance_from_fair_value": -0.158031,
    "fair_value_direction": "Weakening",
    "relative_strength": -20.39936,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.07,
    "excess_performance": -0.189475,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.121183,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.01152,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.158031,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.090929,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.203994,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.068295,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.07,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.805754,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 8939,
      "relative_activity": 8.77534,
      "balance": 0.805754,
      "dry_up": 4.517744,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.072374,
      "annualized_volatility": 0.398274,
      "from_high_reference": -0.218487,
      "from_low_reference": 0.141104
    },
    "levels": {
      "trend_reference": 1.058241,
      "fair_value_reference": 1.104554,
      "structural_low": 0.815,
      "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": 15,
        "median_return": 0.017857,
        "positive_rate": 0.6,
        "directional_follow_through": 0.266667,
        "median_excess_return": -0.007266,
        "regime_survival": 0.666667,
        "best_return": 0.063063,
        "worst_return": -0.037037,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.013325,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.00532,
        "regime_survival": 0.333333,
        "best_return": 0.112069,
        "worst_return": -0.035398,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.021515,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.046062,
        "regime_survival": 0.25,
        "best_return": 0.090539,
        "worst_return": -0.015251,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.005234,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.154457,
        "regime_survival": 0.5,
        "best_return": 0.039349,
        "worst_return": -0.028882,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-21",
        "end": "2025-05-16",
        "tenure": "Established",
        "return": 0.035088,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "violet",
        "start": "2025-05-23",
        "end": "2025-06-20",
        "tenure": "Developing",
        "return": 0.044643,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-27",
        "end": "2025-07-18",
        "tenure": "New",
        "return": -0.008696,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-25",
        "end": "2025-09-19",
        "tenure": "Developing",
        "return": 0.035088,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-26",
        "end": "2025-10-10",
        "tenure": "New",
        "return": -0.042017,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-10-24",
        "tenure": "New",
        "return": -0.037736,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-10-31",
        "end": "2025-11-07",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-14",
        "end": "2026-02-27",
        "tenure": "Established",
        "return": -0.027778,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-06",
        "end": "2026-06-19",
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        "return": 0.122642,
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      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": -0.117647,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": -0.017544,
        "active": false
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        "return": 0.0,
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      {
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        "return": -0.114286,
        "active": true
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    "chart_path": [
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        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 39.368229,
        "energy": 49.082139,
        "activity_lines": [
          1.113272,
          1.098941,
          1.082305,
          1.073841
        ]
      },
      {
        "date": "2026-07-10",
        "close": 1.04,
        "volume": 7,
        "typical_volume": 623.9,
        "trend": 1.062241,
        "fair_value": 1.114806,
        "relative_strength": -13.569872,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 25.024302,
        "energy": 31.967903,
        "activity_lines": [
          1.089535,
          1.090328,
          1.079318,
          1.072407
        ]
      },
      {
        "date": "2026-07-17",
        "close": 1.05,
        "volume": 204,
        "typical_volume": 634.1,
        "trend": 1.063908,
        "fair_value": 1.113934,
        "relative_strength": -12.9218,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 12.945412,
        "energy": 14.38122,
        "activity_lines": [
          1.071333,
          1.083962,
          1.077331,
          1.071617
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.14,
        "volume": 4,
        "typical_volume": 614.4,
        "trend": 1.067574,
        "fair_value": 1.113639,
        "relative_strength": -4.937408,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 48.78892,
        "energy": 36.870443,
        "activity_lines": [
          1.084667,
          1.094205,
          1.083916,
          1.076526
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1.13,
        "volume": 0,
        "typical_volume": 590.6,
        "trend": 1.070574,
        "fair_value": 1.113048,
        "relative_strength": -6.127728,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 52.082417,
        "energy": 23.748583,
        "activity_lines": [
          1.098,
          1.101239,
          1.089167,
          1.080553
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.12,
        "volume": 52,
        "typical_volume": 572.95,
        "trend": 1.073574,
        "fair_value": 1.112451,
        "relative_strength": -7.619994,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 56.402971,
        "energy": 54.221276,
        "activity_lines": [
          1.112,
          1.105074,
          1.093228,
          1.083742
        ]
      },
      {
        "date": "2026-08-14",
        "close": 1.1,
        "volume": 6,
        "typical_volume": 535.0,
        "trend": 1.072907,
        "fair_value": 1.111783,
        "relative_strength": -9.395392,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 53.376327,
        "energy": 57.120685,
        "activity_lines": [
          1.113333,
          1.104419,
          1.095194,
          1.085447
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      },
      {
        "date": "2026-08-21",
        "close": 0.98,
        "volume": 0,
        "typical_volume": 520.05,
        "trend": 1.071241,
        "fair_value": 1.110289,
        "relative_strength": -17.999451,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "mixed",
        "direction": -31.425579,
        "energy": 18.040403,
        "activity_lines": [
          1.070667,
          1.081455,
          1.085112,
          1.079453
        ]
      },
      {
        "date": "2026-08-28",
        "close": 0.96,
        "volume": 0,
        "typical_volume": 483.95,
        "trend": 1.068908,
        "fair_value": 1.10884,
        "relative_strength": -19.608242,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "mixed",
        "direction": -43.857197,
        "energy": 60.505884,
        "activity_lines": [
          1.026,
          1.056545,
          1.073696,
          1.072276
        ]
      },
      {
        "date": "2026-09-04",
        "close": 1.03,
        "volume": 0,
        "typical_volume": 264.35,
        "trend": 1.068908,
        "fair_value": 1.107376,
        "relative_strength": -13.23781,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -29.72279,
        "energy": 52.597545,
        "activity_lines": [
          1.016667,
          1.048545,
          1.069138,
          1.069766
        ]
      },
      {
        "date": "2026-09-11",
        "close": 1.02,
        "volume": 30,
        "typical_volume": 107.4,
        "trend": 1.066574,
        "fair_value": 1.106892,
        "relative_strength": -12.342568,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -31.768148,
        "energy": 56.854559,
        "activity_lines": [
          1.010667,
          1.041636,
          1.063961,
          1.066611
        ]
      },
      {
        "date": "2026-09-18",
        "close": 1.0,
        "volume": 879,
        "typical_volume": 151.35,
        "trend": 1.064907,
        "fair_value": 1.106048,
        "relative_strength": -13.212712,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -63.178893,
        "energy": 71.513623,
        "activity_lines": [
          1.004667,
          1.031273,
          1.057086,
          1.062316
        ]
      },
      {
        "date": "2026-09-25",
        "close": 1.05,
        "volume": 8138,
        "typical_volume": 558.25,
        "trend": 1.064907,
        "fair_value": 1.105524,
        "relative_strength": -9.73179,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -51.774811,
        "energy": 31.07072,
        "activity_lines": [
          1.022,
          1.030727,
          1.055276,
          1.061354
        ]
      },
      {
        "date": "2026-10-02",
        "close": 1.01,
        "volume": 452,
        "typical_volume": 580.85,
        "trend": 1.063241,
        "fair_value": 1.105324,
        "relative_strength": -13.080436,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.124589,
        "energy": 34.06087,
        "activity_lines": [
          1.021333,
          1.022909,
          1.04972,
          1.057811
        ]
      },
      {
        "date": "2026-10-09",
        "close": 0.93,
        "volume": 8939,
        "typical_volume": 1018.65,
        "trend": 1.058241,
        "fair_value": 1.104554,
        "relative_strength": -20.39936,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -74.558041,
        "energy": 45.149804,
        "activity_lines": [
          0.990667,
          1.002909,
          1.036801,
          1.049215
        ]
      }
    ],
    "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."
    }
  }
}