{
  "ticker": {
    "uuid": "4ad5378c-f2e8-40db-9668-e758b305766c",
    "symbol": "UTL",
    "name": "UIL Limited",
    "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": 91.114,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 16.271,
    "architecture_energy": 8.342,
    "architecture_maturity": 20.149,
    "architecture_confidence": 92.218,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 60.07,
        "rotation_up": 25.76,
        "upward_expansion": 41.61,
        "deceleration": 83.43,
        "rotation_down": 27.23,
        "downward_expansion": 30.94
      },
      "activity_lines": [
        197.533333,
        198.708556,
        198.759016,
        197.177005
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 198.0,
    "trend_reference": 191.975528,
    "distance_from_trend": 0.031381,
    "trend_direction": "Improving",
    "fair_value": 133.988666,
    "distance_from_fair_value": 0.477737,
    "fair_value_direction": "Weakening",
    "relative_strength": 5.672135,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.237632,
    "excess_performance": 0.186397,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.031381,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.069996,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.477737,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.036315,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.056721,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.148096,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.237632,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.897295,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 38896,
      "relative_activity": 1.545264,
      "balance": 3.897295,
      "dry_up": 1.431662,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.056315,
      "annualized_volatility": 0.205977,
      "from_high_reference": -0.074766,
      "from_low_reference": 0.5846
    },
    "levels": {
      "trend_reference": 191.975528,
      "fair_value_reference": 133.988666,
      "structural_low": 157.983109,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": -0.044814,
        "positive_rate": 0.272727,
        "directional_follow_through": 0.272727,
        "median_excess_return": -0.041276,
        "regime_survival": 0.454545,
        "best_return": 0.027397,
        "worst_return": -0.10084,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.093531,
        "positive_rate": 0.166667,
        "directional_follow_through": 0.166667,
        "median_excess_return": -0.110736,
        "regime_survival": 0.166667,
        "best_return": 0.06412,
        "worst_return": -0.142572,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.160968,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": -0.174425,
        "regime_survival": 0.0,
        "best_return": 0.064312,
        "worst_return": -0.312891,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.268168,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.26945,
        "regime_survival": 0.0,
        "best_return": 0.343348,
        "worst_return": -0.28842,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-09-15",
        "end": "2023-10-06",
        "tenure": "New",
        "return": -0.068031,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-10-13",
        "end": "2024-01-19",
        "tenure": "Established",
        "return": 0.049766,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-01-26",
        "end": "2024-02-23",
        "tenure": "Developing",
        "return": -0.064516,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-03-01",
        "end": "2024-10-25",
        "tenure": "Extended",
        "return": -0.075348,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-01",
        "end": "2024-11-08",
        "tenure": "New",
        "return": 0.009132,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-11-15",
        "end": "2024-11-22",
        "tenure": "New",
        "return": 0.03211,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-29",
        "end": "2025-03-07",
        "tenure": "Established",
        "return": 0.009072,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-14",
        "end": "2025-06-20",
        "tenure": "Established",
        "return": 0.048862,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-27",
        "end": "2025-12-19",
        "tenure": "Established",
        "return": 0.283246,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-12-26",
        "end": "2026-01-23",
        "tenure": "Developing",
        "return": 0.114754,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-01-30",
        "end": "2026-05-08",
        "tenure": "Established",
        "return": 0.225131,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-05-15",
        "end": "2026-06-05",
        "tenure": "New",
        "return": 0.06766,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-06-12",
        "end": "2026-07-31",
        "tenure": "Developing",
        "return": -0.015075,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-08-07",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 27048.3,
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        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
        "close": 196.0,
        "volume": 4144,
        "typical_volume": 28633.15,
        "trend": 174.530188,
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      },
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        "date": "2026-05-15",
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        "relative_strength": 17.651384,
        "stage": 2,
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        "activity_lines": [
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      },
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        "date": "2026-05-22",
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        "typical_volume": 29032.75,
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 31755.05,
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        "relative_strength": 20.992981,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 0,
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        "modifier": "Re-accelerating",
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      },
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      },
      {
        "date": "2026-06-26",
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        "modifier": "Re-accelerating",
        "gate": "up",
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      },
      {
        "date": "2026-07-03",
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        "volume": 240,
        "typical_volume": 29458.5,
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        "relative_strength": 11.118893,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "volume": 6283,
        "typical_volume": 27402.25,
        "trend": 186.356642,
        "fair_value": 132.626159,
        "relative_strength": 12.399835,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 49.572948,
        "energy": 30.269672,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 201.0,
        "volume": 42587,
        "typical_volume": 28281.9,
        "trend": 187.990517,
        "fair_value": 132.980421,
        "relative_strength": 11.807548,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 49.555826,
        "energy": 27.324762,
        "activity_lines": [
          200.4,
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          195.766674
        ]
      },
      {
        "date": "2026-07-24",
        "close": 196.0,
        "volume": 35155,
        "typical_volume": 28331.4,
        "trend": 189.441061,
        "fair_value": 133.30583,
        "relative_strength": 7.126856,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 32.11977,
        "energy": 14.958557,
        "activity_lines": [
          198.8,
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          199.134193,
          196.283415
        ]
      },
      {
        "date": "2026-07-31",
        "close": 196.0,
        "volume": 27508,
        "typical_volume": 26335.5,
        "trend": 190.708291,
        "fair_value": 133.640838,
        "relative_strength": 5.385884,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 25.659303,
        "energy": 12.293058,
        "activity_lines": [
          197.6,
          199.036007,
          198.848986,
          196.706572
        ]
      },
      {
        "date": "2026-08-07",
        "close": 198.0,
        "volume": 38896,
        "typical_volume": 25171.1,
        "trend": 191.975528,
        "fair_value": 133.988666,
        "relative_strength": 5.672135,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 16.271134,
        "energy": 8.342051,
        "activity_lines": [
          197.533333,
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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."
    }
  }
}