{
  "ticker": {
    "uuid": "49fbb4fc-a531-42a2-ba1d-ab9e0f785c1c",
    "symbol": "STEM",
    "name": "SThree 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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 94.388,
    "architecture_energy": 97.795,
    "architecture_maturity": 24.0,
    "architecture_confidence": 76.717,
    "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": 17.93,
        "rotation_up": 87.79,
        "upward_expansion": 97.67,
        "deceleration": 41.83,
        "rotation_down": 8.0,
        "downward_expansion": 22.0
      },
      "activity_lines": [
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        185.12925
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 285.5,
    "trend_reference": 178.183031,
    "distance_from_trend": 0.602285,
    "trend_direction": "Improving",
    "fair_value": 289.777944,
    "distance_from_fair_value": -0.014763,
    "fair_value_direction": "Improving",
    "relative_strength": 49.571834,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.572961,
    "excess_performance": 0.521725,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.602285,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.054349,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.014763,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.396339,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.495718,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.602535,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.572961,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 5.49855,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 5181900,
      "relative_activity": 2.934146,
      "balance": 5.49855,
      "dry_up": 2.004207,
      "accumulation_observations": 5,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.077195,
      "annualized_volatility": 0.518987,
      "from_high_reference": -0.005226,
      "from_low_reference": 1.161413
    },
    "levels": {
      "trend_reference": 178.183031,
      "fair_value_reference": 289.777944,
      "structural_low": 142.925078,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 17,
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        "positive_rate": 0.705882,
        "directional_follow_through": 0.705882,
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        "worst_return": -0.146055,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "horizon": "Full cycle",
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        "modifier": "Supply rotation",
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      },
      {
        "date": "2026-04-17",
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 1405621.1,
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "trend": 169.449148,
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        "relative_strength": -12.370584,
        "stage": 1,
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        "modifier": "Balance after decline",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 1451286.65,
        "trend": 169.838595,
        "fair_value": 296.991579,
        "relative_strength": -12.11811,
        "stage": 1,
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      },
      {
        "date": "2026-06-19",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "trend": 169.670944,
        "fair_value": 294.622423,
        "relative_strength": -16.417649,
        "stage": 1,
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        "energy": 14.09546,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 1375066.1,
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        "fair_value": 293.531963,
        "relative_strength": -13.668259,
        "stage": 1,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 1369757.15,
        "trend": 169.71682,
        "fair_value": 292.447992,
        "relative_strength": -6.725294,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -4.728084,
        "energy": 4.336432,
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      },
      {
        "date": "2026-07-17",
        "close": 211.0,
        "volume": 2271478,
        "typical_volume": 1404666.45,
        "trend": 170.606707,
        "fair_value": 291.554502,
        "relative_strength": 13.624042,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 51.781767,
        "energy": 54.444901,
        "activity_lines": [
          181.32,
          173.941818,
          168.255878,
          168.20666
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      },
      {
        "date": "2026-07-24",
        "close": 239.0,
        "volume": 2234182,
        "typical_volume": 1425369.9,
        "trend": 172.369959,
        "fair_value": 290.834099,
        "relative_strength": 27.677672,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 86.916981,
        "energy": 85.234826,
        "activity_lines": [
          203.066667,
          186.730909,
          175.318945,
          172.619131
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      },
      {
        "date": "2026-07-31",
        "close": 255.5,
        "volume": 4470701,
        "typical_volume": 1560024.3,
        "trend": 174.72319,
        "fair_value": 290.235464,
        "relative_strength": 34.764092,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 90.13448,
        "energy": 95.567917,
        "activity_lines": [
          225.126667,
          200.949091,
          183.645386,
          177.982359
        ]
      },
      {
        "date": "2026-08-07",
        "close": 285.5,
        "volume": 5181900,
        "typical_volume": 1766067.4,
        "trend": 178.183031,
        "fair_value": 289.777944,
        "relative_strength": 49.571834,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 94.38819,
        "energy": 97.79527,
        "activity_lines": [
          250.753333,
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          194.44044,
          185.12925
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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."
    }
  }
}