{
  "ticker": {
    "uuid": "480c4781-6661-44c9-9060-31f9e89786fc",
    "symbol": "ADM",
    "name": "Admiral Group 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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 79.281,
    "architecture_energy": 64.768,
    "architecture_maturity": 41.034,
    "architecture_confidence": 74.986,
    "architecture_tenure": "Established",
    "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": 6.62,
        "rotation_up": 74.06,
        "upward_expansion": 86.2,
        "deceleration": 50.5,
        "rotation_down": 13.28,
        "downward_expansion": 10.54
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 3886.0,
    "trend_reference": 3271.259001,
    "distance_from_trend": 0.187922,
    "trend_direction": "Improving",
    "fair_value": 2932.970353,
    "distance_from_fair_value": 0.324937,
    "fair_value_direction": "Improving",
    "relative_strength": 9.383697,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.388231,
    "excess_performance": 0.336995,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.187922,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.045361,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.324937,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.198855,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.093837,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.170652,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.388231,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.15592,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4271377,
      "relative_activity": 1.462338,
      "balance": 1.15592,
      "dry_up": 0.968687,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.053479,
      "annualized_volatility": 0.28517,
      "from_high_reference": -0.029955,
      "from_low_reference": 0.481344
    },
    "levels": {
      "trend_reference": 3271.259001,
      "fair_value_reference": 2932.970353,
      "structural_low": 2661.283819,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 28,
        "median_return": -0.001939,
        "positive_rate": 0.464286,
        "directional_follow_through": 0.464286,
        "median_excess_return": -0.017176,
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        "worst_return": -0.125822,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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      },
      {
        "date": "2026-08-07",
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        "fair_value": 2932.970353,
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        "stage": 2,
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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."
    }
  }
}