{
  "ticker": {
    "uuid": "dcaa19dd-f1b6-4d41-a948-92e2ce73a02a",
    "symbol": "T2DH34",
    "name": "Teladoc Health, 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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 28.845,
    "architecture_energy": 30.897,
    "architecture_maturity": 62.364,
    "architecture_confidence": 59.744,
    "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": 26.11,
        "rotation_up": 37.34,
        "upward_expansion": 70.19,
        "deceleration": 82.66,
        "rotation_down": 29.74,
        "downward_expansion": 20.19
      },
      "activity_lines": [
        42.469333,
        43.44,
        40.217524,
        37.137377
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 33.25,
    "trend_reference": 33.793668,
    "distance_from_trend": -0.016088,
    "trend_direction": "Improving",
    "fair_value": 55.971864,
    "distance_from_fair_value": -0.405952,
    "fair_value_direction": "Improving",
    "relative_strength": -15.714078,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.273946,
    "excess_performance": 0.330995,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.016088,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.031784,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.405952,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.024985,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.157141,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.058821,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.273946,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.685624,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 275,
      "relative_activity": 0.030966,
      "balance": 1.685624,
      "dry_up": 0.318188,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.140451,
      "annualized_volatility": 0.763557,
      "from_high_reference": -0.366667,
      "from_low_reference": 0.439394
    },
    "levels": {
      "trend_reference": 33.793668,
      "fair_value_reference": 55.971864,
      "structural_low": 23.100002,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 4,
        "median_return": -0.279727,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.29409,
        "regime_survival": 0.25,
        "best_return": -0.033816,
        "worst_return": -0.416961,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
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        "worst_return": -0.345029,
        "sufficient": false
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        "horizon": "Extended",
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        "sufficient": false
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      {
        "horizon": "Full cycle",
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        "regime": "deceleration",
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        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -43.452587,
        "energy": 31.232888,
        "activity_lines": [
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          28.384335,
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 29.1,
        "volume": 710,
        "typical_volume": 12376.7,
        "trend": 34.374669,
        "fair_value": 63.008596,
        "relative_strength": -37.395327,
        "stage": 4,
        "regime": "downward_expansion",
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        "gate": "down",
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        "energy": 23.636162,
        "activity_lines": [
          28.351333,
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      },
      {
        "date": "2026-05-08",
        "close": 35.549999,
        "volume": 17444,
        "typical_volume": 13162.2,
        "trend": 34.089669,
        "fair_value": 62.471095,
        "relative_strength": -21.596228,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
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        "energy": 22.446971,
        "activity_lines": [
          30.952,
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          30.717916
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      },
      {
        "date": "2026-05-15",
        "close": 32.259998,
        "volume": 9874,
        "typical_volume": 13630.45,
        "trend": 33.625002,
        "fair_value": 61.918275,
        "relative_strength": -25.377903,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -0.934724,
        "energy": 21.98025,
        "activity_lines": [
          31.825999,
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          28.936858,
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      },
      {
        "date": "2026-05-22",
        "close": 33.060001,
        "volume": 431,
        "typical_volume": 13625.1,
        "trend": 33.017002,
        "fair_value": 61.409044,
        "relative_strength": -22.478337,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 5.721155,
        "energy": 26.744088,
        "activity_lines": [
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          29.263286,
          30.563421
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 13764.75,
        "trend": 32.752668,
        "fair_value": 60.881288,
        "relative_strength": -7.102103,
        "stage": 1,
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        "modifier": "Balance after decline",
        "gate": "mixed",
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        "energy": 64.533774,
        "activity_lines": [
          34.904666,
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      },
      {
        "date": "2026-06-05",
        "close": 36.290001,
        "volume": 0,
        "typical_volume": 13637.2,
        "trend": 32.632335,
        "fair_value": 60.367762,
        "relative_strength": -10.226837,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 31.928696,
        "energy": 61.388597,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 37.09,
        "volume": 0,
        "typical_volume": 13467.3,
        "trend": 32.638668,
        "fair_value": 59.830518,
        "relative_strength": -8.918938,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
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      },
      {
        "date": "2026-06-19",
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        "volume": 174,
        "typical_volume": 13191.3,
        "trend": 32.792002,
        "fair_value": 59.377313,
        "relative_strength": 5.944369,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 62.470938,
        "energy": 80.767464,
        "activity_lines": [
          38.668667,
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      },
      {
        "date": "2026-06-26",
        "close": 42.759998,
        "volume": 5190,
        "typical_volume": 13152.9,
        "trend": 32.867335,
        "fair_value": 58.870646,
        "relative_strength": 4.723348,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 57.311743,
        "energy": 82.271588,
        "activity_lines": [
          40.408,
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          33.963857,
          32.7297
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      },
      {
        "date": "2026-07-03",
        "close": 46.720001,
        "volume": 333,
        "typical_volume": 13004.15,
        "trend": 33.044668,
        "fair_value": 58.464364,
        "relative_strength": 14.329708,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 89.907797,
        "energy": 94.491389,
        "activity_lines": [
          42.820667,
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          35.448048,
          33.62342
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      },
      {
        "date": "2026-07-10",
        "close": 47.25,
        "volume": 93,
        "typical_volume": 12982.9,
        "trend": 33.229668,
        "fair_value": 58.00571,
        "relative_strength": 13.932834,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 83.891043,
        "energy": 93.305869,
        "activity_lines": [
          44.886667,
          41.646909,
          36.877381,
          34.539893
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      },
      {
        "date": "2026-07-17",
        "close": 48.830002,
        "volume": 5784,
        "typical_volume": 10969.7,
        "trend": 33.527335,
        "fair_value": 57.597569,
        "relative_strength": 21.028883,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 82.293646,
        "energy": 92.565653,
        "activity_lines": [
          46.748667,
          43.393273,
          38.349334,
          35.546366
        ]
      },
      {
        "date": "2026-07-24",
        "close": 44.68,
        "volume": 2476,
        "typical_volume": 10306.45,
        "trend": 33.686668,
        "fair_value": 57.02821,
        "relative_strength": 11.253079,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 67.504535,
        "energy": 74.335836,
        "activity_lines": [
          46.444667,
          44.143637,
          39.320667,
          36.265893
        ]
      },
      {
        "date": "2026-07-31",
        "close": 47.959999,
        "volume": 2768,
        "typical_volume": 9023.4,
        "trend": 34.015334,
        "fair_value": 56.522184,
        "relative_strength": 16.987546,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 72.472512,
        "energy": 67.947687,
        "activity_lines": [
          47.082,
          45.264546,
          40.515905,
          37.186753
        ]
      },
      {
        "date": "2026-08-07",
        "close": 33.25,
        "volume": 275,
        "typical_volume": 8880.75,
        "trend": 33.793668,
        "fair_value": 55.971864,
        "relative_strength": -15.714078,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 28.845352,
        "energy": 30.897222,
        "activity_lines": [
          42.469333,
          43.44,
          40.217524,
          37.137377
        ]
      }
    ],
    "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."
    }
  }
}