{ "ticker": { "uuid": "27b6c97a-e5a3-46a0-a6f1-9328bf5940b2", "symbol": "CNU", "name": "Chorus Limited", "exchange": "NZE", "country": "NZ", "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": "^NZ50", "stage": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 92.138, "architecture_regime": "deceleration", "architecture_regime_label": "Deceleration", "architecture_modifier": "Momentum cooling", "architecture_gate": "mixed", "architecture_direction": -14.521, "architecture_energy": 20.906, "architecture_maturity": 27.458, "architecture_confidence": 58.221, "architecture_tenure": "Developing", "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": 45.51, "rotation_up": 18.35, "upward_expansion": 21.55, "deceleration": 56.67, "rotation_down": 53.62, "downward_expansion": 42.22 }, "activity_lines": [ 9.546667, 9.600727, 9.694476, 9.647783 ], "activity_state": "Compressed", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.833333 }, "latest_close": 9.55, "trend_reference": 9.548468, "distance_from_trend": 0.00016, "trend_direction": "Improving", "fair_value": 7.972623, "distance_from_fair_value": 0.197849, "fair_value_direction": "Weakening", "relative_strength": -1.474842, "relative_strength_direction": "Weakening", "price_momentum": 0.026846, "excess_performance": -0.001428, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.00016, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.019532, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.197849, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.109427, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.014748, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.147495, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.026846, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.606208, "read": "Supply-led" } ], "volume": { "latest": 815777, "relative_activity": 0.853164, "balance": 0.606208, "dry_up": 1.091314, "accumulation_observations": 1, "distribution_observations": 3 }, "risk": { "range_context": 0.038421, "annualized_volatility": 0.20323, "from_high_reference": -0.073715, "from_low_reference": 0.117188 }, "levels": { "trend_reference": 9.548468, "fair_value_reference": 7.972623, "structural_low": 8.813398, "invalidation": "A 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"relative_strength": 0.573197, "stage": 2, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 12.920385, "energy": 8.986459, "activity_lines": [ 9.651333, 9.697091, 9.740168, 9.646369 ] }, { "date": "2026-07-24", "close": 9.62, "volume": 830773, "typical_volume": 1063381.35, "trend": 9.528033, "fair_value": 7.941846, "relative_strength": -0.213032, "stage": 3, "regime": "deceleration", "modifier": "Recompressing", "gate": "up", "direction": 8.450175, "energy": 10.750604, "activity_lines": [ 9.634, 9.671636, 9.735571, 9.653283 ] }, { "date": "2026-07-31", "close": 9.43, "volume": 889865, "typical_volume": 951269.2, "trend": 9.537224, "fair_value": 7.957318, "relative_strength": -1.783665, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": -2.810147, "energy": 13.082848, "activity_lines": [ 9.554667, 9.618909, 9.710476, 9.646958 ] }, { "date": "2026-08-07", "close": 9.55, "volume": 815777, "typical_volume": 956178.5, "trend": 9.548468, "fair_value": 7.972623, "relative_strength": -1.474842, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "mixed", "direction": -14.520994, "energy": 20.905751, "activity_lines": [ 9.546667, 9.600727, 9.694476, 9.647783 ] } ], "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." } } }