{ "ticker": { "uuid": "324d2f45-5483-43b4-82bc-d5270b7b8d1c", "symbol": "HEAL", "name": "iShares Healthcare Innovation UCITS ETF", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "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": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 82.103, "architecture_energy": 70.294, "architecture_maturity": 18.862, "architecture_confidence": 70.263, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 15.01, "rotation_up": 70.04, "upward_expansion": 85.46, "deceleration": 56.48, "rotation_down": 17.38, "downward_expansion": 12.12 }, "activity_lines": [ 8.514933, 8.420073, 8.103371, 7.948619 ], "activity_state": "Wide", "activity_direction": "Stable", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 8.697, "trend_reference": 7.8297, "distance_from_trend": 0.110771, "trend_direction": "Improving", "fair_value": 7.116974, "distance_from_fair_value": 0.222008, "fair_value_direction": "Improving", "relative_strength": -2.138935, "relative_strength_direction": "Improving", "price_momentum": 0.123063, "excess_performance": -0.047829, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.110771, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.024781, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.222008, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.167881, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.021389, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.079956, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.123063, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.457484, "read": "Demand-led" } ], "volume": { "latest": 203492, "relative_activity": 1.091819, "balance": 1.457484, "dry_up": 1.32756, "accumulation_observations": 4, "distribution_observations": 4 }, "risk": { "range_context": 0.027675, "annualized_volatility": 0.171523, "from_high_reference": -0.002523, "from_low_reference": 0.322939 }, "levels": { "trend_reference": 7.8297, "fair_value_reference": 7.116974, "structural_low": 7.154, "invalidation": "A 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expansion", "gate": "up", "direction": 68.159564, "energy": 87.995661, "activity_lines": [ 8.474, 8.273491, 7.960005, 7.853892 ] }, { "date": "2026-07-31", "close": 8.369, "volume": 245878, "typical_volume": 185622.3, "trend": 7.810433, "fair_value": 7.104083, "relative_strength": -2.99322, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.84808, "energy": 79.177445, "activity_lines": [ 8.440467, 8.3244, 8.018214, 7.891422 ] }, { "date": "2026-08-07", "close": 8.697, "volume": 203492, "typical_volume": 186378.9, "trend": 7.8297, "fair_value": 7.116974, "relative_strength": -2.138935, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 82.102897, "energy": 70.293768, "activity_lines": [ 8.514933, 8.420073, 8.103371, 7.948619 ] } ], "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." } } }