{
  "ticker": {
    "uuid": "f12fb1f4-93b6-4813-b413-e003dfcf9fb1",
    "symbol": "QUEST",
    "name": "Quest Holdings S.A.",
    "exchange": "ATH",
    "country": "GR",
    "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": "2026-09-11",
    "benchmark": "GD.AT",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 73.564,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 73.531,
    "architecture_energy": 78.192,
    "architecture_maturity": 16.447,
    "architecture_confidence": 72.476,
    "architecture_tenure": "New",
    "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": 6.07,
        "rotation_up": 76.01,
        "upward_expansion": 95.63,
        "deceleration": 40.78,
        "rotation_down": 14.08,
        "downward_expansion": 17.63
      },
      "activity_lines": [
        7.479333,
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        7.243725,
        7.072205
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 7.54,
    "trend_reference": 6.819874,
    "distance_from_trend": 0.105592,
    "trend_direction": "Improving",
    "fair_value": 5.812702,
    "distance_from_fair_value": 0.297159,
    "fair_value_direction": "Improving",
    "relative_strength": -7.656383,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.219087,
    "excess_performance": -0.059418,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.105592,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.030362,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.297159,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.0168,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.076564,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.019833,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.219087,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.833063,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 114856,
      "relative_activity": 1.51867,
      "balance": 1.833063,
      "dry_up": 1.326317,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.029178,
      "annualized_volatility": 0.196637,
      "from_high_reference": -0.007895,
      "from_low_reference": 0.311473
    },
    "levels": {
      "trend_reference": 6.819874,
      "fair_value_reference": 5.812702,
      "structural_low": 5.74926,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 27,
        "median_return": 0.009615,
        "positive_rate": 0.518519,
        "directional_follow_through": 0.518519,
        "median_excess_return": 0.000651,
        "regime_survival": 0.777778,
        "best_return": 0.216902,
        "worst_return": -0.057456,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
        "median_return": 0.072187,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.005153,
        "regime_survival": 0.333333,
        "best_return": 0.122558,
        "worst_return": -0.096986,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.059381,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.109696,
        "regime_survival": 0.333333,
        "best_return": 0.417647,
        "worst_return": -0.290917,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.231267,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.126933,
        "regime_survival": 0.0,
        "best_return": 0.307957,
        "worst_return": 0.00523,
        "sufficient": false
      }
    ],
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        "regime": "rotation_up",
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      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "Extended",
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      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "deceleration",
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      {
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      {
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        "regime": "balance",
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        "active": false
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      },
      {
        "date": "2026-05-29",
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        "date": "2026-06-12",
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      },
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        "date": "2026-06-26",
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      },
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      },
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      },
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        "direction": 47.718725,
        "energy": 29.561583,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
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        "typical_volume": 71677.9,
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        "fair_value": 5.745476,
        "relative_strength": -9.449467,
        "stage": 3,
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        "modifier": "Recompressing",
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      },
      {
        "date": "2026-08-14",
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        "relative_strength": -7.523189,
        "stage": 3,
        "regime": "deceleration",
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      },
      {
        "date": "2026-08-21",
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        "typical_volume": 71534.65,
        "trend": 6.730062,
        "fair_value": 5.772311,
        "relative_strength": -8.153438,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 67.71957,
        "energy": 65.593181,
        "activity_lines": [
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          6.929016
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      },
      {
        "date": "2026-08-28",
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        "volume": 81437,
        "typical_volume": 71095.65,
        "trend": 6.753796,
        "fair_value": 5.784099,
        "relative_strength": -8.7675,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 70.214635,
        "energy": 78.243946,
        "activity_lines": [
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          6.970947
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      },
      {
        "date": "2026-09-04",
        "close": 7.57,
        "volume": 133310,
        "typical_volume": 74535.1,
        "trend": 6.786704,
        "fair_value": 5.798107,
        "relative_strength": -6.786521,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.715641,
        "energy": 84.431109,
        "activity_lines": [
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          7.199239,
          7.023605
        ]
      },
      {
        "date": "2026-09-11",
        "close": 7.54,
        "volume": 114856,
        "typical_volume": 75629.35,
        "trend": 6.819874,
        "fair_value": 5.812702,
        "relative_strength": -7.656383,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 73.531351,
        "energy": 78.192261,
        "activity_lines": [
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          7.072205
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      }
    ],
    "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."
    }
  }
}