{
  "ticker": {
    "uuid": "21ecfb4b-03be-4bf4-bfb7-3768e101caae",
    "symbol": "543",
    "name": "Noel Gifts International Ltd",
    "exchange": "SES",
    "country": "SG",
    "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": "^STI",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -34.916,
    "architecture_energy": 21.084,
    "architecture_maturity": 25.508,
    "architecture_confidence": 66.488,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 48.91,
        "rotation_up": 12.62,
        "upward_expansion": 22.28,
        "deceleration": 58.45,
        "rotation_down": 54.7,
        "downward_expansion": 55.61
      },
      "activity_lines": [
        0.1946,
        0.195727,
        0.195571,
        0.195376
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 0.192,
    "trend_reference": 0.197567,
    "distance_from_trend": -0.028176,
    "trend_direction": "Weakening",
    "fair_value": 0.200297,
    "distance_from_fair_value": -0.041423,
    "fair_value_direction": "Weakening",
    "relative_strength": -22.522936,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.106977,
    "excess_performance": -0.261812,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.028176,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.029156,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.041423,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.065695,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.225229,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.09102,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.106977,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.20398,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 65900,
      "relative_activity": 2.618196,
      "balance": 0.20398,
      "dry_up": 1.614025,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.028846,
      "annualized_volatility": 0.429078,
      "from_high_reference": -0.232,
      "from_low_reference": 0.129412
    },
    "levels": {
      "trend_reference": 0.197567,
      "fair_value_reference": 0.200297,
      "structural_low": 0.17,
      "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": 15,
        "median_return": 0.0,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.004904,
        "regime_survival": 0.6,
        "best_return": 0.175004,
        "worst_return": -0.046511,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.075,
        "positive_rate": 0.714286,
        "directional_follow_through": 0.714286,
        "median_excess_return": 0.030758,
        "regime_survival": 0.142857,
        "best_return": 0.1,
        "worst_return": -0.022727,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.051286,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.070924,
        "regime_survival": 0.2,
        "best_return": 0.387852,
        "worst_return": -0.045454,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.104511,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.103085,
        "regime_survival": 0.5,
        "best_return": 0.549798,
        "worst_return": -0.05,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-09",
        "end": "2024-04-05",
        "tenure": "Developing",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-04-12",
        "end": "2024-07-19",
        "tenure": "Established",
        "return": 0.035087,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-26",
        "end": "2024-08-23",
        "tenure": "Developing",
        "return": 0.135596,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-08-30",
        "end": "2024-11-15",
        "tenure": "Developing",
        "return": -0.039562,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-22",
        "end": "2025-02-07",
        "tenure": "Developing",
        "return": 0.02381,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-14",
        "end": "2025-06-06",
        "tenure": "Established",
        "return": -0.046512,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-07-04",
        "tenure": "New",
        "return": 0.075,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-11",
        "end": "2025-08-08",
        "tenure": "Developing",
        "return": -0.02381,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-15",
        "end": "2025-11-21",
        "tenure": "Established",
        "return": -0.066667,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-11-28",
        "end": "2025-12-05",
        "tenure": "New",
        "return": 0.02381,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-12-12",
        "end": "2026-01-09",
        "tenure": "Developing",
        "return": 0.02381,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-01-16",
        "end": "2026-01-16",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-23",
        "end": "2026-05-29",
        "tenure": "Established",
        "return": -0.093023,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-05",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": -0.04,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 78115.0,
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          0.187455,
          0.196095,
          0.201355
        ]
      },
      {
        "date": "2026-05-01",
        "close": 0.185,
        "volume": 30000,
        "typical_volume": 47760.0,
        "trend": 0.2075,
        "fair_value": 0.194853,
        "relative_strength": -20.106218,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -58.130029,
        "energy": 41.579352,
        "activity_lines": [
          0.185,
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          0.194476,
          0.199828
        ]
      },
      {
        "date": "2026-05-08",
        "close": 0.2,
        "volume": 69500,
        "typical_volume": 50735.0,
        "trend": 0.2065,
        "fair_value": 0.195261,
        "relative_strength": -13.420943,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -42.418573,
        "energy": 31.77537,
        "activity_lines": [
          0.188667,
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 0.2,
        "volume": 0,
        "typical_volume": 41765.0,
        "trend": 0.2055,
        "fair_value": 0.195647,
        "relative_strength": -14.21937,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -35.698219,
        "energy": 23.737966,
        "activity_lines": [
          0.192333,
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          0.194381,
          0.198925
        ]
      },
      {
        "date": "2026-05-22",
        "close": 0.205,
        "volume": 20500,
        "typical_volume": 42775.0,
        "trend": 0.204667,
        "fair_value": 0.196086,
        "relative_strength": -13.059931,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -15.186343,
        "energy": 16.389988,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 0.195,
        "volume": 15000,
        "typical_volume": 42040.0,
        "trend": 0.2035,
        "fair_value": 0.196462,
        "relative_strength": -16.366514,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -20.526142,
        "energy": 20.481438,
        "activity_lines": [
          0.198667,
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          0.1945,
          0.198269
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      },
      {
        "date": "2026-06-05",
        "close": 0.2,
        "volume": 0,
        "typical_volume": 40605.0,
        "trend": 0.202667,
        "fair_value": 0.196869,
        "relative_strength": -13.980756,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -6.950812,
        "energy": 15.263481,
        "activity_lines": [
          0.199667,
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          0.194667,
          0.198043
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      },
      {
        "date": "2026-06-12",
        "close": 0.19,
        "volume": 0,
        "typical_volume": 39045.0,
        "trend": 0.201667,
        "fair_value": 0.197212,
        "relative_strength": -17.429235,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -18.920583,
        "energy": 12.362644,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 0.198,
        "volume": 0,
        "typical_volume": 37945.0,
        "trend": 0.201267,
        "fair_value": 0.197522,
        "relative_strength": -16.202336,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -11.605193,
        "energy": 7.070186,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 0.198,
        "volume": 0,
        "typical_volume": 36120.0,
        "trend": 0.200867,
        "fair_value": 0.197916,
        "relative_strength": -15.749123,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -19.474888,
        "energy": 9.579884,
        "activity_lines": [
          0.196467,
          0.196673,
          0.194271,
          0.196778
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      },
      {
        "date": "2026-07-03",
        "close": 0.198,
        "volume": 0,
        "typical_volume": 31375.0,
        "trend": 0.2003,
        "fair_value": 0.198332,
        "relative_strength": -16.029436,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -19.195962,
        "energy": 11.578868,
        "activity_lines": [
          0.197067,
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      },
      {
        "date": "2026-07-10",
        "close": 0.198,
        "volume": 0,
        "typical_volume": 31375.0,
        "trend": 0.1999,
        "fair_value": 0.198706,
        "relative_strength": -18.958056,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -15.18947,
        "energy": 14.205995,
        "activity_lines": [
          0.197467,
          0.197582,
          0.19489,
          0.196445
        ]
      },
      {
        "date": "2026-07-17",
        "close": 0.198,
        "volume": 0,
        "typical_volume": 21560.0,
        "trend": 0.1995,
        "fair_value": 0.199122,
        "relative_strength": -19.05413,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -7.67393,
        "energy": 14.444126,
        "activity_lines": [
          0.198,
          0.197545,
          0.195286,
          0.196323
        ]
      },
      {
        "date": "2026-07-24",
        "close": 0.195,
        "volume": 19600,
        "typical_volume": 20505.0,
        "trend": 0.198833,
        "fair_value": 0.199518,
        "relative_strength": -20.83235,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -15.511329,
        "energy": 13.52007,
        "activity_lines": [
          0.197,
          0.197,
          0.195452,
          0.196032
        ]
      },
      {
        "date": "2026-07-31",
        "close": 0.195,
        "volume": 77000,
        "typical_volume": 22535.0,
        "trend": 0.198333,
        "fair_value": 0.199919,
        "relative_strength": -20.847753,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -27.341028,
        "energy": 13.100198,
        "activity_lines": [
          0.1962,
          0.196545,
          0.195643,
          0.195785
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.192,
        "volume": 65900,
        "typical_volume": 25170.0,
        "trend": 0.197567,
        "fair_value": 0.200297,
        "relative_strength": -22.522936,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -34.915504,
        "energy": 21.084351,
        "activity_lines": [
          0.1946,
          0.195727,
          0.195571,
          0.195376
        ]
      }
    ],
    "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."
    }
  }
}