{
  "ticker": {
    "uuid": "e9d194de-f35c-4fcc-a706-937a7c4009c2",
    "symbol": "ARAMI",
    "name": "Aramis Group SAS",
    "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": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Structural repair",
    "architecture_gate": "mixed",
    "architecture_direction": 44.928,
    "architecture_energy": 49.808,
    "architecture_maturity": 20.216,
    "architecture_confidence": 75.476,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 29.07,
        "rotation_up": 75.16,
        "upward_expansion": 46.49,
        "deceleration": 36.48,
        "rotation_down": 14.01,
        "downward_expansion": 19.16
      },
      "activity_lines": [
        3.913667,
        3.582636,
        3.451667,
        3.543226
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 4.22,
    "trend_reference": 3.7375,
    "distance_from_trend": 0.129097,
    "trend_direction": "Weakening",
    "fair_value": 5.167115,
    "distance_from_fair_value": -0.183297,
    "fair_value_direction": "Improving",
    "relative_strength": -11.939695,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.017462,
    "excess_performance": -0.070774,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.129097,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.138726,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.183297,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.082453,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.119397,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.165888,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.017462,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.231339,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 326517,
      "relative_activity": 1.096566,
      "balance": 1.231339,
      "dry_up": 1.126977,
      "accumulation_observations": 6,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.083394,
      "annualized_volatility": 0.537663,
      "from_high_reference": -0.366366,
      "from_low_reference": 0.517986
    },
    "levels": {
      "trend_reference": 3.7375,
      "fair_value_reference": 5.167115,
      "structural_low": 2.78,
      "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": 6,
        "median_return": 0.024661,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.042281,
        "regime_survival": 0.5,
        "best_return": 0.219178,
        "worst_return": -0.308057,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.038813,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.028744,
        "regime_survival": 0.0,
        "best_return": 0.276394,
        "worst_return": -0.35703,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.114155,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.064281,
        "regime_survival": 0.0,
        "best_return": 0.601423,
        "worst_return": -0.538705,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.330865,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.298902,
        "regime_survival": 0.0,
        "best_return": 0.838671,
        "worst_return": -0.176941,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-10-20",
        "end": "2023-11-24",
        "tenure": "Developing",
        "return": 0.34188,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-12-01",
        "end": "2024-03-01",
        "tenure": "Established",
        "return": -0.153488,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-03-08",
        "end": "2024-05-17",
        "tenure": "Developing",
        "return": 0.057692,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-05-24",
        "end": "2024-06-21",
        "tenure": "Developing",
        "return": 0.04745,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-06-28",
        "end": "2024-07-12",
        "tenure": "New",
        "return": 0.002398,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-19",
        "end": "2024-08-02",
        "tenure": "New",
        "return": 0.039261,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-08-09",
        "end": "2025-01-31",
        "tenure": "Established",
        "return": 0.486275,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-02-07",
        "end": "2025-02-21",
        "tenure": "New",
        "return": 0.053525,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-28",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": -0.03598,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-04",
        "end": "2025-07-04",
        "tenure": "Established",
        "return": 0.094017,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-07-11",
        "end": "2025-11-07",
        "tenure": "Established",
        "return": 0.02589,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-11-14",
        "end": "2025-12-12",
        "tenure": "Developing",
        "return": -0.308057,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-12-19",
        "end": "2026-07-31",
        "tenure": "Extended",
        "return": -0.144105,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 4.015,
        "volume": 111807,
        "typical_volume": 321104.55,
        "trend": 4.3397,
        "fair_value": 8.575693,
        "relative_strength": -12.469552,
        "stage": 1,
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        "modifier": "Established expansion",
        "gate": "mixed",
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        "energy": 35.844287,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
        "close": 3.98,
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        "typical_volume": 294091.95,
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      },
      {
        "date": "2023-09-01",
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        "typical_volume": 291381.85,
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      },
      {
        "date": "2023-09-08",
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      },
      {
        "date": "2023-09-15",
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        "typical_volume": 287407.1,
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      },
      {
        "date": "2023-09-22",
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        "typical_volume": 281233.65,
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      },
      {
        "date": "2023-09-29",
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      },
      {
        "date": "2023-10-06",
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      },
      {
        "date": "2023-10-13",
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      },
      {
        "date": "2023-10-20",
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      },
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        "date": "2023-10-27",
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      },
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      },
      {
        "date": "2023-11-24",
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      },
      {
        "date": "2023-12-01",
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      },
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        "date": "2023-12-08",
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        "date": "2023-12-15",
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      },
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        "date": "2023-12-22",
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      },
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        "date": "2024-01-05",
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      },
      {
        "date": "2024-01-19",
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        "date": "2026-05-01",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "date": "2026-05-29",
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        "typical_volume": 330952.6,
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        "date": "2026-06-05",
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "volume": 24345,
        "typical_volume": 292393.7,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 306186.8,
        "trend": 3.845833,
        "fair_value": 5.184423,
        "relative_strength": -30.866269,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 46.252244,
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          3.052333,
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      },
      {
        "date": "2026-07-17",
        "close": 3.6,
        "volume": 324370,
        "typical_volume": 302169.95,
        "trend": 3.813167,
        "fair_value": 5.175192,
        "relative_strength": -23.270383,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -32.696935,
        "energy": 25.071225,
        "activity_lines": [
          3.246333,
          3.131182,
          3.308738,
          3.504656
        ]
      },
      {
        "date": "2026-07-24",
        "close": 3.815,
        "volume": 316029,
        "typical_volume": 304645.6,
        "trend": 3.785833,
        "fair_value": 5.169359,
        "relative_strength": -18.38634,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -5.714611,
        "energy": 19.20601,
        "activity_lines": [
          3.472667,
          3.267364,
          3.339833,
          3.504774
        ]
      },
      {
        "date": "2026-07-31",
        "close": 3.92,
        "volume": 375373,
        "typical_volume": 314101.55,
        "trend": 3.758167,
        "fair_value": 5.167051,
        "relative_strength": -16.824094,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": 13.020212,
        "energy": 30.361642,
        "activity_lines": [
          3.678,
          3.406364,
          3.381524,
          3.51343
        ]
      },
      {
        "date": "2026-08-07",
        "close": 4.22,
        "volume": 326517,
        "typical_volume": 297763.2,
        "trend": 3.7375,
        "fair_value": 5.167115,
        "relative_strength": -11.939695,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 44.927733,
        "energy": 49.808056,
        "activity_lines": [
          3.913667,
          3.582636,
          3.451667,
          3.543226
        ]
      }
    ],
    "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."
    }
  }
}