{
  "ticker": {
    "uuid": "2b485c7a-df9e-437d-acad-269ae2f25d0c",
    "symbol": "ECEL",
    "name": "Eurocell plc",
    "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": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 57.509,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "mixed",
    "architecture_direction": 25.075,
    "architecture_energy": 38.408,
    "architecture_maturity": 8.207,
    "architecture_confidence": 60.304,
    "architecture_tenure": "New",
    "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": 36.99,
        "rotation_up": 61.63,
        "upward_expansion": 48.31,
        "deceleration": 22.0,
        "rotation_down": 15.38,
        "downward_expansion": 20.97
      },
      "activity_lines": [
        116.133333,
        113.681818,
        110.91078,
        111.883229
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 118.0,
    "trend_reference": 114.831391,
    "distance_from_trend": 0.027594,
    "trend_direction": "Weakening",
    "fair_value": 135.193651,
    "distance_from_fair_value": -0.127178,
    "fair_value_direction": "Improving",
    "relative_strength": -10.444018,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.102344,
    "excess_performance": -0.15358,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.027594,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.039603,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.127178,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.070163,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.10444,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.122076,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.102344,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.188755,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 608280,
      "relative_activity": 1.519991,
      "balance": 1.188755,
      "dry_up": 1.110686,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.065437,
      "annualized_volatility": 0.308776,
      "from_high_reference": -0.245611,
      "from_low_reference": 0.191919
    },
    "levels": {
      "trend_reference": 114.831391,
      "fair_value_reference": 135.193651,
      "structural_low": 99.0,
      "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": 14,
        "median_return": -0.024044,
        "positive_rate": 0.357143,
        "directional_follow_through": 0.357143,
        "median_excess_return": -0.035953,
        "regime_survival": 0.642857,
        "best_return": 0.052174,
        "worst_return": -0.134921,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.117897,
        "positive_rate": 0.166667,
        "directional_follow_through": 0.166667,
        "median_excess_return": -0.159371,
        "regime_survival": 0.166667,
        "best_return": 0.087719,
        "worst_return": -0.203125,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.204337,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": -0.231698,
        "regime_survival": 0.0,
        "best_return": 0.180126,
        "worst_return": -0.269325,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.351098,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.489408,
        "regime_survival": 0.333333,
        "best_return": -0.158713,
        "worst_return": -0.423526,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-12-08",
        "end": "2023-12-15",
        "tenure": "New",
        "return": 0.099173,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-12-22",
        "end": "2024-02-09",
        "tenure": "Developing",
        "return": -0.046154,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-16",
        "end": "2024-04-12",
        "tenure": "Developing",
        "return": 0.040323,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-04-19",
        "end": "2024-05-31",
        "tenure": "Developing",
        "return": -0.047905,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-06-07",
        "end": "2024-07-12",
        "tenure": "Developing",
        "return": 0.153558,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-07-19",
        "end": "2024-12-13",
        "tenure": "Established",
        "return": 0.172349,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-12-20",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": -0.171429,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-02-07",
        "end": "2025-02-28",
        "tenure": "New",
        "return": -0.027027,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-07",
        "end": "2025-04-25",
        "tenure": "Developing",
        "return": 0.023593,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-02",
        "end": "2025-09-05",
        "tenure": "Established",
        "return": -0.182109,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-09-12",
        "end": "2026-01-02",
        "tenure": "Established",
        "return": -0.045627,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-09",
        "end": "2026-03-20",
        "tenure": "Developing",
        "return": -0.172414,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-27",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": 0.013811,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.026087,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-07-21",
        "close": 113.346649,
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        "typical_volume": 910493.0,
        "trend": 132.060056,
        "fair_value": 196.223286,
        "relative_strength": -21.973732,
        "stage": 4,
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      },
      {
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      },
      {
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      {
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      },
      {
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      },
      {
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      },
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      },
      {
        "date": "2026-04-17",
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        "typical_volume": 455395.15,
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        "fair_value": 136.322484,
        "relative_strength": -25.163755,
        "stage": 4,
        "regime": "downward_expansion",
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        "date": "2026-04-24",
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      },
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        "date": "2026-05-01",
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        "fair_value": 135.947599,
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      },
      {
        "date": "2026-05-08",
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        "date": "2026-05-15",
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        "activity_lines": [
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      },
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        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
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        "date": "2026-06-05",
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        "relative_strength": -20.125047,
        "stage": 4,
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      },
      {
        "date": "2026-06-12",
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 20.242318,
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      },
      {
        "date": "2026-07-03",
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        "trend": 117.040523,
        "fair_value": 135.11507,
        "relative_strength": -17.25443,
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        "modifier": "Established contraction",
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      },
      {
        "date": "2026-07-10",
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        "volume": 204464,
        "typical_volume": 396411.3,
        "trend": 116.392037,
        "fair_value": 135.087207,
        "relative_strength": -17.19056,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -29.301816,
        "energy": 17.345065,
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      },
      {
        "date": "2026-07-17",
        "close": 113.0,
        "volume": 216308,
        "typical_volume": 380485.0,
        "trend": 115.826902,
        "fair_value": 135.084985,
        "relative_strength": -14.128941,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -11.101567,
        "energy": 12.263871,
        "activity_lines": [
          111.133333,
          109.345455,
          108.819842,
          111.597324
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      },
      {
        "date": "2026-07-24",
        "close": 115.0,
        "volume": 410766,
        "typical_volume": 390244.2,
        "trend": 115.495041,
        "fair_value": 135.092382,
        "relative_strength": -12.897392,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -2.008809,
        "energy": 11.245113,
        "activity_lines": [
          112.566667,
          110.654545,
          109.290045,
          111.543975
        ]
      },
      {
        "date": "2026-07-31",
        "close": 118.0,
        "volume": 542573,
        "typical_volume": 400804.0,
        "trend": 115.24652,
        "fair_value": 135.135015,
        "relative_strength": -10.965809,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 6.606278,
        "energy": 18.96364,
        "activity_lines": [
          114.6,
          112.290909,
          110.098132,
          111.705585
        ]
      },
      {
        "date": "2026-08-07",
        "close": 118.0,
        "volume": 608280,
        "typical_volume": 400186.55,
        "trend": 114.831391,
        "fair_value": 135.193651,
        "relative_strength": -10.444018,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 25.075124,
        "energy": 38.408272,
        "activity_lines": [
          116.133333,
          113.681818,
          110.91078,
          111.883229
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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."
    }
  }
}