{
  "ticker": {
    "uuid": "df419b6e-f4e1-4fd8-9d66-d7f29381b860",
    "symbol": "IPS",
    "name": "Ipsos SA",
    "exchange": "PAR",
    "country": "FR",
    "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": "^FCHI",
    "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": 74.175,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 72.884,
    "architecture_energy": 68.012,
    "architecture_maturity": 29.602,
    "architecture_confidence": 81.228,
    "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": 26.34,
        "rotation_up": 69.09,
        "upward_expansion": 84.79,
        "deceleration": 48.01,
        "rotation_down": 12.27,
        "downward_expansion": 16.13
      },
      "activity_lines": [
        37.937334,
        36.759635,
        36.021848,
        35.564354
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 40.080002,
    "trend_reference": 35.003788,
    "distance_from_trend": 0.145019,
    "trend_direction": "Improving",
    "fair_value": 44.094013,
    "distance_from_fair_value": -0.091033,
    "fair_value_direction": "Improving",
    "relative_strength": 7.437106,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.21381,
    "excess_performance": 0.160498,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.145019,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033909,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.091033,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.128984,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.074371,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.128998,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.21381,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.80683,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 635819,
      "relative_activity": 1.850763,
      "balance": 1.80683,
      "dry_up": 1.890572,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.06779,
      "annualized_volatility": 0.418624,
      "from_high_reference": -0.067473,
      "from_low_reference": 0.37732
    },
    "levels": {
      "trend_reference": 35.003788,
      "fair_value_reference": 44.094013,
      "structural_low": 29.1,
      "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": 25,
        "median_return": 0.018576,
        "positive_rate": 0.56,
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        "median_excess_return": 0.014428,
        "regime_survival": 0.76,
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        "worst_return": -0.087823,
        "sufficient": true
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        "horizon": "Intermediate",
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        "horizon": "Full cycle",
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        "modifier": "Balance after decline",
        "gate": "mixed",
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      },
      {
        "date": "2026-04-24",
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      },
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      },
      {
        "date": "2026-05-08",
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      },
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        "activity_lines": [
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      },
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        "trend": 33.744682,
        "fair_value": 44.681277,
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      },
      {
        "date": "2026-05-29",
        "close": 36.572674,
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        "typical_volume": 395241.15,
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      },
      {
        "date": "2026-06-05",
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        "trend": 34.016308,
        "fair_value": 44.60258,
        "relative_strength": -0.599195,
        "stage": 1,
        "regime": "balance",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 371388.65,
        "trend": 34.152409,
        "fair_value": 44.5284,
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        "stage": 1,
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "energy": 13.303482,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 45627,
        "typical_volume": 326125.8,
        "trend": 34.419788,
        "fair_value": 44.308045,
        "relative_strength": -7.37533,
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        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 34.880001,
        "volume": 256922,
        "typical_volume": 313764.9,
        "trend": 34.482455,
        "fair_value": 44.236115,
        "relative_strength": -3.551122,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 23.912661,
        "energy": 16.693556,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 35.740002,
        "volume": 388274,
        "typical_volume": 301039.0,
        "trend": 34.554455,
        "fair_value": 44.171252,
        "relative_strength": -0.716884,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 32.608496,
        "energy": 19.948228,
        "activity_lines": [
          34.900999,
          35.174634,
          35.030138,
          34.819754
        ]
      },
      {
        "date": "2026-07-24",
        "close": 40.099998,
        "volume": 619841,
        "typical_volume": 307207.4,
        "trend": 34.765121,
        "fair_value": 44.156334,
        "relative_strength": 11.208496,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 76.238593,
        "energy": 60.886641,
        "activity_lines": [
          36.672906,
          36.057382,
          35.516073,
          35.177531
        ]
      },
      {
        "date": "2026-07-31",
        "close": 35.5,
        "volume": 954046,
        "typical_volume": 333280.25,
        "trend": 34.819121,
        "fair_value": 44.108222,
        "relative_strength": -2.714107,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 47.819056,
        "energy": 46.869419,
        "activity_lines": [
          36.616,
          35.999874,
          35.54877,
          35.224942
        ]
      },
      {
        "date": "2026-08-07",
        "close": 40.080002,
        "volume": 635819,
        "typical_volume": 343544.25,
        "trend": 35.003788,
        "fair_value": 44.094013,
        "relative_strength": 7.437106,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 72.884333,
        "energy": 68.01213,
        "activity_lines": [
          37.937334,
          36.759635,
          36.021848,
          35.564354
        ]
      }
    ],
    "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."
    }
  }
}