{
  "ticker": {
    "uuid": "51943695-049f-49a3-9aed-f0214f41136e",
    "symbol": "IHS",
    "name": "IHS Holding Ltd",
    "exchange": "NYSE",
    "country": "US",
    "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": "SPY",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 54.656,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 43.061,
    "architecture_energy": 17.37,
    "architecture_maturity": 31.751,
    "architecture_confidence": 79.509,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 46.31,
        "rotation_up": 36.64,
        "upward_expansion": 54.36,
        "deceleration": 85.52,
        "rotation_down": 25.28,
        "downward_expansion": 20.36
      },
      "activity_lines": [
        8.254667,
        8.243091,
        8.253048,
        8.236258
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 8.35,
    "trend_reference": 8.178667,
    "distance_from_trend": 0.020949,
    "trend_direction": "Improving",
    "fair_value": 5.329359,
    "distance_from_fair_value": 0.566793,
    "fair_value_direction": "Improving",
    "relative_strength": -2.933897,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.015815,
    "excess_performance": -0.10981,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.020949,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.050702,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.566793,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.027786,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.029339,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.065773,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.015815,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.972072,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 2617563,
      "relative_activity": 0.439388,
      "balance": 0.972072,
      "dry_up": 1.0158,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.017365,
      "annualized_volatility": 0.086904,
      "from_high_reference": -0.067039,
      "from_low_reference": 0.462347
    },
    "levels": {
      "trend_reference": 8.178667,
      "fair_value_reference": 5.329359,
      "structural_low": 7.86,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": 0.01339,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.007171,
        "regime_survival": 0.666667,
        "best_return": 0.175481,
        "worst_return": -0.161554,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.045378,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.016765,
        "regime_survival": 0.0,
        "best_return": 0.177294,
        "worst_return": -0.086538,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": -0.072595,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.136163,
        "regime_survival": 0.0,
        "best_return": 0.281493,
        "worst_return": -0.426683,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.561298,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.811654,
        "regime_survival": 0.0,
        "best_return": -0.561298,
        "worst_return": -0.561298,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-06-02",
        "end": "2023-06-30",
        "tenure": "Developing",
        "return": 0.175481,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-07-07",
        "end": "2023-07-28",
        "tenure": "New",
        "return": -0.158974,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-08-04",
        "end": "2023-08-18",
        "tenure": "New",
        "return": -0.142675,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-08-25",
        "end": "2023-09-08",
        "tenure": "New",
        "return": -0.170153,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-09-15",
        "end": "2024-04-19",
        "tenure": "Extended",
        "return": -0.322449,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-04-26",
        "end": "2024-07-12",
        "tenure": "Developing",
        "return": -0.155807,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-07-19",
        "end": "2024-08-16",
        "tenure": "Developing",
        "return": 0.212544,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-23",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.222222,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-15",
        "end": "2024-12-06",
        "tenure": "New",
        "return": 0.246212,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-12-13",
        "end": "2025-01-24",
        "tenure": "Developing",
        "return": 0.154321,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-31",
        "end": "2025-10-03",
        "tenure": "Extended",
        "return": 1.051829,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-12-12",
        "tenure": "Developing",
        "return": 0.143079,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-06-19",
        "tenure": "Extended",
        "return": 0.108992,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-06-26",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.01335,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 1317898.0,
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      },
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        "date": "2026-07-17",
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        ]
      },
      {
        "date": "2026-07-24",
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        "typical_volume": 5855601.2,
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        "fair_value": 5.32391,
        "relative_strength": 0.231865,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 8.2,
        "volume": 15982800,
        "typical_volume": 6204186.0,
        "trend": 8.152667,
        "fair_value": 5.326154,
        "relative_strength": -1.288547,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 11.646553,
        "energy": 8.147071,
        "activity_lines": [
          8.21,
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      },
      {
        "date": "2026-08-07",
        "close": 8.35,
        "volume": 2617563,
        "typical_volume": 5957292.25,
        "trend": 8.178667,
        "fair_value": 5.329359,
        "relative_strength": -2.933897,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 43.061383,
        "energy": 17.370318,
        "activity_lines": [
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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."
    }
  }
}