{ "ticker": { "uuid": "49036abe-929c-4f03-89eb-4f5e325e3a49", "symbol": "EMHD", "name": "Invesco FTSE Emerging Markets High Dividend Low Volatility 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": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 61.805, "architecture_energy": 70.917, "architecture_maturity": 5.655, "architecture_confidence": 59.921, "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": 23.92, "rotation_up": 73.83, "upward_expansion": 88.57, "deceleration": 44.98, "rotation_down": 8.3, "downward_expansion": 15.23 }, "activity_lines": [ 25.698, 25.415241, 25.248012, 25.218759 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 25.639999, "trend_reference": 25.120342, "distance_from_trend": 0.020687, "trend_direction": "Improving", "fair_value": 21.125813, "distance_from_fair_value": 0.213681, "fair_value_direction": "Weakening", "relative_strength": -8.294908, "relative_strength_direction": "Weakening", "price_momentum": 0.027799, "excess_performance": -0.143092, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.020687, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.028038, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.213681, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.022785, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.082949, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.057517, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.027799, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.657307, "read": "Supply-led" } ], "volume": { "latest": 18843, "relative_activity": 1.498872, "balance": 0.657307, "dry_up": 1.074876, "accumulation_observations": 2, "distribution_observations": 5 }, "risk": { "range_context": 0.017286, "annualized_volatility": 0.08691, "from_high_reference": -0.017436, "from_low_reference": 0.206175 }, "levels": { "trend_reference": 25.120342, "fair_value_reference": 21.125813, "structural_low": 24.0, 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"relative_strength": -4.306793, "stage": 3, "regime": "deceleration", "modifier": "Momentum cooling", "gate": "up", "direction": 72.546271, "energy": 51.137825, "activity_lines": [ 25.427333, 25.172077, 25.139185, 25.124954 ] }, { "date": "2026-07-31", "close": 25.85, "volume": 13049, "typical_volume": 12357.15, "trend": 25.061675, "fair_value": 21.077162, "relative_strength": -4.94646, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 70.564564, "energy": 70.46778, "activity_lines": [ 25.643, 25.32272, 25.204932, 25.181447 ] }, { "date": "2026-08-07", "close": 25.639999, "volume": 18843, "typical_volume": 12571.45, "trend": 25.120342, "fair_value": 21.125813, "relative_strength": -8.294908, "stage": 3, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 61.805072, "energy": 70.916872, "activity_lines": [ 25.698, 25.415241, 25.248012, 25.218759 ] } ], "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." } } }