{
  "ticker": {
    "uuid": "07a561e7-0baf-4ec9-80e9-7e15a81898cf",
    "symbol": "2200",
    "name": "Arabian Pipes Company",
    "exchange": "SAU",
    "country": "SA",
    "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": "^TASI.SR",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 2.505,
    "architecture_energy": 17.616,
    "architecture_maturity": 56.11,
    "architecture_confidence": 74.313,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 58.32,
        "rotation_up": 17.46,
        "upward_expansion": 48.82,
        "deceleration": 84.2,
        "rotation_down": 39.89,
        "downward_expansion": 29.15
      },
      "activity_lines": [
        6.51,
        6.728297,
        6.828299,
        6.544206
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 6.38,
    "trend_reference": 6.097941,
    "distance_from_trend": 0.046255,
    "trend_direction": "Improving",
    "fair_value": 6.809129,
    "distance_from_fair_value": -0.063023,
    "fair_value_direction": "Weakening",
    "relative_strength": 12.472049,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.270552,
    "excess_performance": 0.302382,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.046255,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.123119,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.063023,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.11835,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.12472,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.105115,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.270552,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.589083,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 12427974,
      "relative_activity": 0.36008,
      "balance": 1.589083,
      "dry_up": 0.420237,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.078032,
      "annualized_volatility": 0.44388,
      "from_high_reference": -0.180597,
      "from_low_reference": 0.533014
    },
    "levels": {
      "trend_reference": 6.097941,
      "fair_value_reference": 6.809129,
      "structural_low": 4.161737,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": -0.020256,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.026576,
        "regime_survival": 0.333333,
        "best_return": 0.266954,
        "worst_return": -0.144993,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.234177,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.251212,
        "regime_survival": 0.0,
        "best_return": 0.439506,
        "worst_return": -0.129272,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.132336,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.151302,
        "regime_survival": 0.333333,
        "best_return": 0.777777,
        "worst_return": -0.297256,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 1.360834,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 1.290966,
        "regime_survival": 0.0,
        "best_return": 2.925925,
        "worst_return": -0.204258,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-04-26",
        "end": "2024-05-03",
        "tenure": "New",
        "return": 0.058688,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-05-31",
        "tenure": "New",
        "return": -0.131148,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-07",
        "end": "2024-07-05",
        "tenure": "New",
        "return": 0.260173,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-09-20",
        "tenure": "Developing",
        "return": -0.010219,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-09-27",
        "end": "2024-11-15",
        "tenure": "Developing",
        "return": -0.145617,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-11-22",
        "end": "2024-12-13",
        "tenure": "New",
        "return": -0.006993,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-20",
        "end": "2025-01-10",
        "tenure": "New",
        "return": 0.126437,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-01-31",
        "tenure": "New",
        "return": 0.063415,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-02-21",
        "tenure": "New",
        "return": -0.106569,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-02-28",
        "end": "2025-03-14",
        "tenure": "New",
        "return": -0.054983,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-21",
        "end": "2026-03-27",
        "tenure": "Extended",
        "return": -0.329198,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "return": 0.134959,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": 0.023611,
        "active": false
      },
      {
        "regime": "deceleration",
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        "active": true
      }
    ],
    "chart_path": [
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      },
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 34036030.9,
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        "fair_value": 6.765979,
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        "stage": 2,
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        "energy": 21.956861,
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      },
      {
        "date": "2026-07-31",
        "close": 6.19,
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        "typical_volume": 34060338.55,
        "trend": 6.037025,
        "fair_value": 6.787038,
        "relative_strength": 12.008029,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 3.154803,
        "energy": 10.743406,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 6.38,
        "volume": 12427974,
        "typical_volume": 34514433.05,
        "trend": 6.097941,
        "fair_value": 6.809129,
        "relative_strength": 12.472049,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "activity_lines": [
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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."
    }
  }
}