{
  "ticker": {
    "uuid": "ee264209-ee26-45ff-b848-8efe3d27d9fc",
    "symbol": "BN",
    "name": "Danone S.A.",
    "exchange": "VIE",
    "country": "AT",
    "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": "^ATX",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 86.011,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "up",
    "architecture_direction": 42.222,
    "architecture_energy": 25.392,
    "architecture_maturity": 55.532,
    "architecture_confidence": 64.194,
    "architecture_tenure": "Developing",
    "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": 47.75,
        "rotation_up": 36.47,
        "upward_expansion": 64.95,
        "deceleration": 85.37,
        "rotation_down": 24.22,
        "downward_expansion": 14.95
      },
      "activity_lines": [
        69.320001,
        69.956365,
        67.921277,
        67.485251
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 68.080002,
    "trend_reference": 67.305189,
    "distance_from_trend": 0.011512,
    "trend_direction": "Weakening",
    "fair_value": 62.498791,
    "distance_from_fair_value": 0.089301,
    "fair_value_direction": "Improving",
    "relative_strength": -21.119374,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.014175,
    "excess_performance": -0.160072,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.011512,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.025259,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.089301,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.055504,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.211194,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.03204,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.014175,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.231234,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 102,
      "relative_activity": 0.211618,
      "balance": 0.231234,
      "dry_up": 2.177386,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.044495,
      "annualized_volatility": 0.240541,
      "from_high_reference": -0.117203,
      "from_low_reference": 0.113874
    },
    "levels": {
      "trend_reference": 67.305189,
      "fair_value_reference": 62.498791,
      "structural_low": 61.119999,
      "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": 5,
        "median_return": 0.000173,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.029504,
        "regime_survival": 0.2,
        "best_return": 0.038277,
        "worst_return": -0.061294,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.077691,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.014612,
        "regime_survival": 0.0,
        "best_return": 0.097264,
        "worst_return": -0.058971,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.020189,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.109819,
        "regime_survival": 0.0,
        "best_return": 0.077987,
        "worst_return": -0.118656,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.132837,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.077397,
        "regime_survival": 0.0,
        "best_return": 0.168867,
        "worst_return": 0.096807,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-03-15",
        "end": "2024-05-24",
        "tenure": "Developing",
        "return": 0.030238,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-31",
        "end": "2024-06-28",
        "tenure": "Developing",
        "return": -0.028465,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-05",
        "end": "2024-08-02",
        "tenure": "Developing",
        "return": 0.044248,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-08-09",
        "end": "2024-11-29",
        "tenure": "Established",
        "return": 0.071643,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-12-06",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": 0.03681,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-07",
        "end": "2025-06-20",
        "tenure": "Established",
        "return": 0.105241,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-27",
        "end": "2025-07-18",
        "tenure": "New",
        "return": -0.025884,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-07-25",
        "end": "2025-08-22",
        "tenure": "Developing",
        "return": 0.112651,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-08-29",
        "end": "2025-09-12",
        "tenure": "New",
        "return": 0.048514,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-09-19",
        "end": "2025-12-12",
        "tenure": "Established",
        "return": 0.027027,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-12-19",
        "end": "2026-01-16",
        "tenure": "Developing",
        "return": -0.028571,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-01-23",
        "end": "2026-02-20",
        "tenure": "Developing",
        "return": 0.099613,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-02-27",
        "end": "2026-06-19",
        "tenure": "Established",
        "return": -0.072738,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-06-26",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": -0.060965,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 48.067928,
        "volume": 0,
        "typical_volume": 21.65,
        "trend": 49.583308,
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        "relative_strength": 2.934112,
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        "modifier": "Momentum cooling",
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      },
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      },
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      {
        "date": "2023-09-22",
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        "date": "2024-01-05",
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        "date": "2024-01-12",
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        "date": "2024-01-19",
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        "relative_strength": -22.463523,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.132275,
        "energy": 55.102926,
        "activity_lines": [
          65.336571,
          65.985944,
          67.263912,
          68.763242
        ]
      },
      {
        "date": "2026-05-08",
        "close": 63.139999,
        "volume": 8,
        "typical_volume": 730.0,
        "trend": 70.380281,
        "fair_value": 61.075785,
        "relative_strength": -24.323348,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -72.639369,
        "energy": 69.519396,
        "activity_lines": [
          64.446361,
          65.326467,
          66.731774,
          68.274502
        ]
      },
      {
        "date": "2026-05-15",
        "close": 61.900002,
        "volume": 134,
        "typical_volume": 736.7,
        "trend": 69.930322,
        "fair_value": 61.132524,
        "relative_strength": -24.943471,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -78.269088,
        "energy": 80.488168,
        "activity_lines": [
          63.413868,
          64.572374,
          66.138351,
          67.727387
        ]
      },
      {
        "date": "2026-05-22",
        "close": 61.720001,
        "volume": 0,
        "typical_volume": 736.7,
        "trend": 69.482737,
        "fair_value": 61.195076,
        "relative_strength": -26.058988,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -75.296311,
        "energy": 80.991518,
        "activity_lines": [
          62.63387,
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          65.5859,
          67.197689
        ]
      },
      {
        "date": "2026-05-29",
        "close": 61.119999,
        "volume": 292,
        "typical_volume": 744.75,
        "trend": 69.049289,
        "fair_value": 61.264695,
        "relative_strength": -28.107261,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -74.760711,
        "energy": 82.2507,
        "activity_lines": [
          61.912667,
          63.233964,
          65.03353,
          66.658157
        ]
      },
      {
        "date": "2026-06-05",
        "close": 64.360001,
        "volume": 1,
        "typical_volume": 728.25,
        "trend": 68.668449,
        "fair_value": 61.360714,
        "relative_strength": -22.895658,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.815041,
        "energy": 58.519536,
        "activity_lines": [
          62.558667,
          63.265974,
          64.851836,
          66.355623
        ]
      },
      {
        "date": "2026-06-12",
        "close": 66.940002,
        "volume": 140,
        "typical_volume": 661.15,
        "trend": 68.360082,
        "fair_value": 61.472227,
        "relative_strength": -21.438076,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -38.149426,
        "energy": 30.340175,
        "activity_lines": [
          64.056001,
          63.777008,
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          66.24411
        ]
      },
      {
        "date": "2026-06-19",
        "close": 65.220001,
        "volume": 150,
        "typical_volume": 607.3,
        "trend": 68.024655,
        "fair_value": 61.5654,
        "relative_strength": -25.989937,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -36.896809,
        "energy": 21.87553,
        "activity_lines": [
          64.726668,
          63.980147,
          64.888328,
          66.041524
        ]
      },
      {
        "date": "2026-06-26",
        "close": 72.5,
        "volume": 642,
        "typical_volume": 507.75,
        "trend": 67.957015,
        "fair_value": 61.705762,
        "relative_strength": -15.702661,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "down",
        "direction": 21.988521,
        "energy": 32.743979,
        "activity_lines": [
          67.602667,
          65.531783,
          65.506513,
          66.330256
        ]
      },
      {
        "date": "2026-07-03",
        "close": 73.459999,
        "volume": 0,
        "typical_volume": 365.15,
        "trend": 67.944562,
        "fair_value": 61.853381,
        "relative_strength": -16.181739,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 48.524669,
        "energy": 53.785962,
        "activity_lines": [
          70.08,
          67.132546,
          66.190548,
          66.685287
        ]
      },
      {
        "date": "2026-07-10",
        "close": 72.300003,
        "volume": 1168,
        "typical_volume": 345.3,
        "trend": 67.906969,
        "fair_value": 61.993331,
        "relative_strength": -16.049491,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 37.932133,
        "energy": 71.110453,
        "activity_lines": [
          71.348001,
          68.376364,
          66.745367,
          66.966283
        ]
      },
      {
        "date": "2026-07-17",
        "close": 73.220001,
        "volume": 378,
        "typical_volume": 331.9,
        "trend": 67.845294,
        "fair_value": 62.141095,
        "relative_strength": -12.989638,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 48.456099,
        "energy": 78.705898,
        "activity_lines": [
          72.393334,
          69.640728,
          67.38379,
          67.30906
        ]
      },
      {
        "date": "2026-07-24",
        "close": 70.220001,
        "volume": 1768,
        "typical_volume": 393.3,
        "trend": 67.715824,
        "fair_value": 62.265855,
        "relative_strength": -17.35252,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 37.835105,
        "energy": 68.754263,
        "activity_lines": [
          72.020001,
          70.176365,
          67.722765,
          67.462266
        ]
      },
      {
        "date": "2026-07-31",
        "close": 67.5,
        "volume": 1950,
        "typical_volume": 490.45,
        "trend": 67.507925,
        "fair_value": 62.382292,
        "relative_strength": -19.961904,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 31.653095,
        "energy": 32.271638,
        "activity_lines": [
          70.406667,
          70.066183,
          67.790548,
          67.448342
        ]
      },
      {
        "date": "2026-08-07",
        "close": 68.080002,
        "volume": 102,
        "typical_volume": 482.0,
        "trend": 67.305189,
        "fair_value": 62.498791,
        "relative_strength": -21.119374,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 42.222242,
        "energy": 25.391876,
        "activity_lines": [
          69.320001,
          69.956365,
          67.921277,
          67.485251
        ]
      }
    ],
    "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."
    }
  }
}