{ "ticker": { "uuid": "533af92c-5622-442c-af1a-3404230d58fc", "symbol": "MHJ", "name": "Michael Hill International Limited", "exchange": "NZE", "country": "NZ", "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": "^NZ50", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 69.022, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -40.033, "architecture_energy": 28.344, "architecture_maturity": 57.026, "architecture_confidence": 76.169, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 39.59, "rotation_up": 27.3, "upward_expansion": 20.88, "deceleration": 45.23, "rotation_down": 28.61, "downward_expansion": 57.21 }, "activity_lines": [ 0.408333, 0.405545, 0.411857, 0.428333 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 0.41, "trend_reference": 0.446167, "distance_from_trend": -0.081061, "trend_direction": "Improving", "fair_value": 0.575725, "distance_from_fair_value": -0.287855, "fair_value_direction": "Weakening", "relative_strength": -7.895092, "relative_strength_direction": "Weakening", "price_momentum": -0.098901, "excess_performance": -0.127175, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.081061, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.002622, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.287855, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.005015, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.078951, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.09271, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.098901, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.542846, "read": "Supply-led" } ], "volume": { "latest": 1441347, "relative_activity": 2.393392, "balance": 0.542846, "dry_up": 1.051662, "accumulation_observations": 0, "distribution_observations": 1 }, "risk": { "range_context": 0.051595, "annualized_volatility": 0.340728, "from_high_reference": -0.280702, "from_low_reference": 0.078947 }, "levels": { "trend_reference": 0.446167, "fair_value_reference": 0.575725, "structural_low": 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"typical_volume": 537380.9, "trend": 0.447667, "fair_value": 0.585729, "relative_strength": -7.861137, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.430279, "energy": 41.41642, "activity_lines": [ 0.405667, 0.402182, 0.420405, 0.436237 ] }, { "date": "2026-07-24", "close": 0.39, "volume": 240242, "typical_volume": 522414.75, "trend": 0.447167, "fair_value": 0.582307, "relative_strength": -12.583878, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -57.642596, "energy": 43.360465, "activity_lines": [ 0.400667, 0.400182, 0.415405, 0.432516 ] }, { "date": "2026-07-31", "close": 0.42, "volume": 475902, "typical_volume": 537235.65, "trend": 0.447667, "fair_value": 0.579139, "relative_strength": -5.093452, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -42.740378, "energy": 30.91914, "activity_lines": [ 0.407, 0.404, 0.413857, 0.430763 ] }, { "date": "2026-08-07", "close": 0.41, "volume": 1441347, "typical_volume": 602219.3, "trend": 0.446167, "fair_value": 0.575725, "relative_strength": -7.895092, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.032998, "energy": 28.344042, "activity_lines": [ 0.408333, 0.405545, 0.411857, 0.428333 ] } ], "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." } } }