{
  "ticker": {
    "uuid": "05bf33ce-417e-4be4-9d76-928f499c5f30",
    "symbol": "PLUS",
    "name": "Plus500 Ltd.",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 87.643,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -39.977,
    "architecture_energy": 51.889,
    "architecture_maturity": 13.18,
    "architecture_confidence": 92.102,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 18.85,
        "rotation_up": 19.35,
        "upward_expansion": 25.37,
        "deceleration": 53.1,
        "rotation_down": 74.57,
        "downward_expansion": 48.04
      },
      "activity_lines": [
        3980.0,
        4296.981818,
        4428.990476,
        4407.985966
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 3756.0,
    "trend_reference": 4366.199992,
    "distance_from_trend": -0.139755,
    "trend_direction": "Improving",
    "fair_value": 2845.09292,
    "distance_from_fair_value": 0.320168,
    "fair_value_direction": "Weakening",
    "relative_strength": -10.436122,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.168058,
    "excess_performance": -0.219293,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.139755,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.094444,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.320168,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.416274,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.104361,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.28444,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.168058,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.130636,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 744553,
      "relative_activity": 1.366993,
      "balance": 0.130636,
      "dry_up": 1.688399,
      "accumulation_observations": 1,
      "distribution_observations": 7
    },
    "risk": {
      "range_context": 0.089891,
      "annualized_volatility": 0.359299,
      "from_high_reference": -0.275603,
      "from_low_reference": 0.307254
    },
    "levels": {
      "trend_reference": 4366.199992,
      "fair_value_reference": 2845.09292,
      "structural_low": 3724.0,
      "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": 4,
        "median_return": 0.012016,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.003168,
        "regime_survival": 0.25,
        "best_return": 0.030724,
        "worst_return": 0.002945,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.022354,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.026047,
        "regime_survival": 0.0,
        "best_return": 0.072601,
        "worst_return": -0.114841,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.051627,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.000601,
        "regime_survival": 0.0,
        "best_return": 0.310972,
        "worst_return": -0.193944,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.091932,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.051242,
        "regime_survival": 0.0,
        "best_return": 0.133319,
        "worst_return": 0.050544,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-04-12",
        "end": "2024-09-27",
        "tenure": "Established",
        "return": 0.243225,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-10-04",
        "end": "2024-12-06",
        "tenure": "Developing",
        "return": 0.06326,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-12-13",
        "end": "2025-03-07",
        "tenure": "Established",
        "return": 0.045359,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-14",
        "end": "2025-04-18",
        "tenure": "Developing",
        "return": 0.111439,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-04-25",
        "end": "2025-07-04",
        "tenure": "Developing",
        "return": 0.074147,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-11",
        "end": "2025-09-05",
        "tenure": "Developing",
        "return": -0.054215,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-09-12",
        "end": "2025-10-03",
        "tenure": "New",
        "return": 0.000631,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-10-10",
        "end": "2025-11-14",
        "tenure": "Developing",
        "return": -0.066085,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-21",
        "end": "2025-12-12",
        "tenure": "New",
        "return": 0.109008,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-12-19",
        "end": "2026-01-02",
        "tenure": "New",
        "return": 0.022384,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-01-09",
        "end": "2026-03-13",
        "tenure": "Developing",
        "return": 0.148551,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-20",
        "end": "2026-04-24",
        "tenure": "Developing",
        "return": 0.067651,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-05-01",
        "end": "2026-07-31",
        "tenure": "Established",
        "return": -0.136865,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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      },
      {
        "date": "2026-07-24",
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        "volume": 676934,
        "typical_volume": 571682.35,
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        "fair_value": 2814.464094,
        "relative_strength": -3.996332,
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      },
      {
        "date": "2026-07-31",
        "close": 3910.0,
        "volume": 725480,
        "typical_volume": 560043.85,
        "trend": 4361.499658,
        "fair_value": 2830.166586,
        "relative_strength": -6.628565,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "mixed",
        "direction": -36.912742,
        "energy": 40.106971,
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      },
      {
        "date": "2026-08-07",
        "close": 3756.0,
        "volume": 744553,
        "typical_volume": 544664.65,
        "trend": 4366.199992,
        "fair_value": 2845.09292,
        "relative_strength": -10.436122,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -39.976975,
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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."
    }
  }
}