{
  "ticker": {
    "uuid": "dd594805-0949-4c90-a9c5-e2af920fe69b",
    "symbol": "XRXB34",
    "name": "Xerox Holdings Corporation",
    "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": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 66.132,
    "architecture_energy": 36.481,
    "architecture_maturity": 57.82,
    "architecture_confidence": 95.661,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 42.4,
        "rotation_up": 34.71,
        "upward_expansion": 66.71,
        "deceleration": 95.04,
        "rotation_down": 28.0,
        "downward_expansion": 9.37
      },
      "activity_lines": [
        15.155334,
        15.129493,
        14.589982,
        13.308058
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 16.780001,
    "trend_reference": 12.145728,
    "distance_from_trend": 0.381556,
    "trend_direction": "Improving",
    "fair_value": 41.110802,
    "distance_from_fair_value": -0.591835,
    "fair_value_direction": "Improving",
    "relative_strength": 10.25709,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.408957,
    "excess_performance": 0.466005,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.381556,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.037416,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.591835,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.103463,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.102571,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.464939,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.408957,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.695678,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3160,
      "relative_activity": 0.428797,
      "balance": 5.695678,
      "dry_up": 0.41957,
      "accumulation_observations": 1,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.123254,
      "annualized_volatility": 0.933374,
      "from_high_reference": -0.323041,
      "from_low_reference": 1.706452
    },
    "levels": {
      "trend_reference": 12.145728,
      "fair_value_reference": 41.110802,
      "structural_low": 6.2,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": 0.005919,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.017174,
        "regime_survival": 0.142857,
        "best_return": 0.211799,
        "worst_return": -0.18902,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.12514,
        "positive_rate": 0.166667,
        "directional_follow_through": 0.166667,
        "median_excess_return": -0.14458,
        "regime_survival": 0.0,
        "best_return": 0.256005,
        "worst_return": -0.375825,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.173285,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.166171,
        "regime_survival": 0.0,
        "best_return": 0.297502,
        "worst_return": -0.452863,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.357702,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.377784,
        "regime_survival": 0.333333,
        "best_return": -0.217104,
        "worst_return": -0.471991,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-10-06",
        "end": "2023-10-20",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-10-27",
        "end": "2023-12-01",
        "tenure": "Developing",
        "return": 0.095612,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-12-08",
        "end": "2023-12-29",
        "tenure": "New",
        "return": 0.367348,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-01-05",
        "end": "2024-03-15",
        "tenure": "Developing",
        "return": 0.036852,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-03-22",
        "end": "2024-04-19",
        "tenure": "Developing",
        "return": 0.035664,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-04-26",
        "end": "2024-06-07",
        "tenure": "Developing",
        "return": -0.009844,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-06-14",
        "end": "2025-01-10",
        "tenure": "Extended",
        "return": -0.253432,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-02-07",
        "tenure": "New",
        "return": -0.168999,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-14",
        "end": "2025-07-11",
        "tenure": "Established",
        "return": -0.375705,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-18",
        "end": "2025-08-01",
        "tenure": "New",
        "return": -0.18902,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-08-08",
        "end": "2026-05-01",
        "tenure": "Extended",
        "return": -0.492785,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-08",
        "end": "2026-06-19",
        "tenure": "Developing",
        "return": 0.125215,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-06-26",
        "end": "2026-07-10",
        "tenure": "New",
        "return": -0.105366,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-17",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.199428,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 65.976227,
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        "typical_volume": 105.0,
        "trend": 64.168809,
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        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
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      },
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      },
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      },
      {
        "date": "2026-04-24",
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        "typical_volume": 8763.7,
        "trend": 12.395275,
        "fair_value": 45.475647,
        "relative_strength": -65.511742,
        "stage": 4,
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        "modifier": "Established contraction",
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        "energy": 57.96789,
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 8581.45,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 9119.8,
        "trend": 11.979896,
        "fair_value": 44.863526,
        "relative_strength": -36.236799,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 9265.25,
        "trend": 11.876296,
        "fair_value": 44.564523,
        "relative_strength": -33.365289,
        "stage": 1,
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        "gate": "mixed",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 9334.55,
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        "gate": "mixed",
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 10420.05,
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        "relative_strength": -10.575515,
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 10470.25,
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        "relative_strength": -4.894446,
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      },
      {
        "date": "2026-06-12",
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        "volume": 591,
        "typical_volume": 10186.85,
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        "fair_value": 43.440935,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 11.977529,
        "fair_value": 42.875911,
        "relative_strength": -7.296238,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 64.982269,
        "energy": 64.077242,
        "activity_lines": [
          16.47538,
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      },
      {
        "date": "2026-07-03",
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        "volume": 579,
        "typical_volume": 8808.55,
        "trend": 11.965317,
        "fair_value": 42.578467,
        "relative_strength": -17.450172,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "energy": 48.450414,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 14.56,
        "volume": 2116,
        "typical_volume": 8552.65,
        "trend": 11.987665,
        "fair_value": 42.283332,
        "relative_strength": -15.122846,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 44.295708,
        "energy": 32.537833,
        "activity_lines": [
          15.110233,
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      },
      {
        "date": "2026-07-17",
        "close": 13.99,
        "volume": 792,
        "typical_volume": 8497.5,
        "trend": 11.970741,
        "fair_value": 41.984542,
        "relative_strength": -14.482358,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 39.596308,
        "energy": 25.4294,
        "activity_lines": [
          14.581422,
          15.291598,
          13.771721,
          12.695229
        ]
      },
      {
        "date": "2026-07-24",
        "close": 13.99,
        "volume": 1171,
        "typical_volume": 7981.2,
        "trend": 11.993053,
        "fair_value": 41.685753,
        "relative_strength": -11.693315,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.112385,
        "energy": 26.585852,
        "activity_lines": [
          14.284321,
          15.032533,
          13.957961,
          12.825504
        ]
      },
      {
        "date": "2026-07-31",
        "close": 14.73,
        "volume": 7245,
        "typical_volume": 7895.65,
        "trend": 12.037364,
        "fair_value": 41.391707,
        "relative_strength": -7.536417,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 33.816899,
        "energy": 21.591229,
        "activity_lines": [
          14.326667,
          14.897831,
          14.190944,
          13.002081
        ]
      },
      {
        "date": "2026-08-07",
        "close": 16.780001,
        "volume": 3160,
        "typical_volume": 7369.45,
        "trend": 12.145728,
        "fair_value": 41.110802,
        "relative_strength": 10.25709,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 66.131574,
        "energy": 36.481113,
        "activity_lines": [
          15.155334,
          15.129493,
          14.589982,
          13.308058
        ]
      }
    ],
    "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."
    }
  }
}