{
  "ticker": {
    "uuid": "4099598c-3073-46e4-ad0c-74554121edaa",
    "symbol": "MND",
    "name": "Monadelphous Group Limited",
    "exchange": "ASX",
    "country": "AU",
    "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": "2026-10-09",
    "benchmark": "^AXJO",
    "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": 76.563,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 53.288,
    "architecture_energy": 53.61,
    "architecture_maturity": 5.695,
    "architecture_confidence": 88.193,
    "architecture_tenure": "New",
    "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": 33.06,
        "rotation_up": 65.13,
        "upward_expansion": 84.1,
        "deceleration": 46.59,
        "rotation_down": 15.31,
        "downward_expansion": 15.43
      },
      "activity_lines": [
        30.790667,
        30.28024,
        29.890186,
        29.759151
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 30.82,
    "trend_reference": 29.459253,
    "distance_from_trend": 0.046191,
    "trend_direction": "Improving",
    "fair_value": 18.900825,
    "distance_from_fair_value": 0.630617,
    "fair_value_direction": "Improving",
    "relative_strength": 9.730532,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.054036,
    "excess_performance": 0.081266,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.046191,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.01035,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.630617,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.00843,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.097305,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.011473,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.054036,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.648054,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 819269,
      "relative_activity": 1.596847,
      "balance": 4.648054,
      "dry_up": 2.474964,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.054124,
      "annualized_volatility": 0.270068,
      "from_high_reference": -0.151188,
      "from_low_reference": 0.429415
    },
    "levels": {
      "trend_reference": 29.459253,
      "fair_value_reference": 18.900825,
      "structural_low": 27.6,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 31,
        "median_return": 0.021127,
        "positive_rate": 0.580645,
        "directional_follow_through": 0.580645,
        "median_excess_return": 0.014954,
        "regime_survival": 0.774194,
        "best_return": 0.146027,
        "worst_return": -0.138674,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 12,
        "median_return": 0.091859,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.091719,
        "regime_survival": 0.75,
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        "worst_return": -0.040972,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.191081,
        "positive_rate": 0.833333,
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        "median_excess_return": 0.214444,
        "regime_survival": 0.666667,
        "best_return": 0.517262,
        "worst_return": -0.117371,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
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        "best_return": 1.045882,
        "worst_return": -0.067043,
        "sufficient": false
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        "end": "2023-08-11",
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        "regime": "upward_expansion",
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        "regime": "balance",
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      {
        "regime": "downward_expansion",
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      },
      {
        "date": "2026-06-19",
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        "modifier": "Re-accelerating",
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        "date": "2026-06-26",
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      },
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      },
      {
        "date": "2026-07-10",
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      },
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        "date": "2026-07-24",
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      },
      {
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      },
      {
        "date": "2026-08-07",
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      },
      {
        "date": "2026-08-14",
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      },
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      },
      {
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        "gate": "up",
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      },
      {
        "date": "2026-09-04",
        "close": 28.4,
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        "fair_value": 18.335448,
        "relative_strength": 0.899343,
        "stage": 3,
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      },
      {
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        "typical_volume": 461391.15,
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        "fair_value": 18.436709,
        "relative_strength": 4.440101,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
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        "energy": 10.151227,
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          29.095705,
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      },
      {
        "date": "2026-09-18",
        "close": 30.620001,
        "volume": 1908171,
        "typical_volume": 506186.55,
        "trend": 29.319877,
        "fair_value": 18.548835,
        "relative_strength": 10.878457,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 37.84207,
        "energy": 21.223283,
        "activity_lines": [
          29.417597,
          29.571382,
          29.502152,
          29.431197
        ]
      },
      {
        "date": "2026-09-25",
        "close": 30.969999,
        "volume": 1335116,
        "typical_volume": 528317.9,
        "trend": 29.288586,
        "fair_value": 18.665408,
        "relative_strength": 12.279706,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 54.053966,
        "energy": 22.260314,
        "activity_lines": [
          29.902462,
          29.835971,
          29.633925,
          29.537656
        ]
      },
      {
        "date": "2026-10-02",
        "close": 31.23,
        "volume": 1016607,
        "typical_volume": 511698.6,
        "trend": 29.328253,
        "fair_value": 18.785619,
        "relative_strength": 12.272215,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 58.135781,
        "energy": 51.341355,
        "activity_lines": [
          30.511333,
          30.114742,
          29.784651,
          29.662909
        ]
      },
      {
        "date": "2026-10-09",
        "close": 30.82,
        "volume": 819269,
        "typical_volume": 513054.15,
        "trend": 29.459253,
        "fair_value": 18.900825,
        "relative_strength": 9.730532,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 53.288482,
        "energy": 53.610361,
        "activity_lines": [
          30.790667,
          30.28024,
          29.890186,
          29.759151
        ]
      }
    ],
    "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."
    }
  }
}