{
  "ticker": {
    "uuid": "56889803-9001-48fc-9237-5a10da1f9ef3",
    "symbol": "AVER",
    "name": "Averbuch Formica Center Ltd.",
    "exchange": "TLV",
    "country": "IL",
    "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": "TA35.TA",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 75.973,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "down",
    "architecture_direction": -54.348,
    "architecture_energy": 42.536,
    "architecture_maturity": 18.661,
    "architecture_confidence": 61.307,
    "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": 31.79,
        "rotation_up": 9.07,
        "upward_expansion": 12.16,
        "deceleration": 52.19,
        "rotation_down": 73.68,
        "downward_expansion": 73.5
      },
      "activity_lines": [
        11.540667,
        12.746182,
        12.95119,
        12.940215
      ],
      "activity_state": "Moderate",
      "activity_direction": "Stable",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 10.97,
    "trend_reference": 13.027333,
    "distance_from_trend": -0.157924,
    "trend_direction": "Improving",
    "fair_value": 13.651872,
    "distance_from_fair_value": -0.196447,
    "fair_value_direction": "Improving",
    "relative_strength": -24.770623,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.167046,
    "excess_performance": -0.195947,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.157924,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.002128,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.196447,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.024444,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.247706,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.011978,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.167046,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.582564,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 3713,
      "relative_activity": 0.397131,
      "balance": 0.582564,
      "dry_up": 0.84472,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.183157,
      "annualized_volatility": 0.6516,
      "from_high_reference": -0.446239,
      "from_low_reference": 0.070244
    },
    "levels": {
      "trend_reference": 13.027333,
      "fair_value_reference": 13.651872,
      "structural_low": 10.62,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.010377,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.011321,
        "regime_survival": 0.5,
        "best_return": 0.150418,
        "worst_return": -0.100529,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.063191,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.083357,
        "regime_survival": 0.166667,
        "best_return": 0.298578,
        "worst_return": -0.093227,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.117,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.023145,
        "regime_survival": 0.25,
        "best_return": 0.260854,
        "worst_return": -0.222707,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.218957,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.34148,
        "regime_survival": 0.333333,
        "best_return": 0.315648,
        "worst_return": -0.638384,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2023-08-18",
        "end": "2023-09-08",
        "tenure": "New",
        "return": -0.044206,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-09-15",
        "end": "2024-11-22",
        "tenure": "Extended",
        "return": -0.719153,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-11-29",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": -0.047368,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-10",
        "end": "2025-01-31",
        "tenure": "New",
        "return": 0.023742,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-02-07",
        "end": "2025-05-30",
        "tenure": "Established",
        "return": 0.03229,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-06",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": 0.145972,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-22",
        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.034351,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-07",
        "end": "2026-01-09",
        "tenure": "Developing",
        "return": 0.058526,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-01-16",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": -0.076277,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-20",
        "end": "2026-03-27",
        "tenure": "Developing",
        "return": -0.035604,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-04-03",
        "end": "2026-06-05",
        "tenure": "Developing",
        "return": 0.032103,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-12",
        "end": "2026-06-19",
        "tenure": "New",
        "return": 0.05969,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-06-26",
        "end": "2026-07-17",
        "tenure": "New",
        "return": -0.263811,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": -0.084307,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 36.42,
        "volume": 7450,
        "typical_volume": 5849.9,
        "trend": 36.786667,
        "fair_value": 28.32324,
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        "stage": 3,
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        "energy": 20.815639,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
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      },
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        "typical_volume": 8075.15,
        "trend": 13.102,
        "fair_value": 15.803474,
        "relative_strength": -23.154174,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.685642,
        "energy": 77.939758,
        "activity_lines": [
          12.125333,
          12.376364,
          12.78519,
          12.932172
        ]
      },
      {
        "date": "2026-05-08",
        "close": 12.2,
        "volume": 1773,
        "typical_volume": 7367.55,
        "trend": 13.047333,
        "fair_value": 15.658923,
        "relative_strength": -25.968472,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.569852,
        "energy": 52.715172,
        "activity_lines": [
          12.132,
          12.304,
          12.696333,
          12.873978
        ]
      },
      {
        "date": "2026-05-15",
        "close": 11.85,
        "volume": 532,
        "typical_volume": 6863.55,
        "trend": 12.958333,
        "fair_value": 15.513923,
        "relative_strength": -25.437422,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -69.154496,
        "energy": 52.168679,
        "activity_lines": [
          12.039333,
          12.180909,
          12.579524,
          12.796731
        ]
      },
      {
        "date": "2026-05-22",
        "close": 13.63,
        "volume": 10771,
        "typical_volume": 7158.35,
        "trend": 12.973667,
        "fair_value": 15.377321,
        "relative_strength": -14.009262,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -12.724614,
        "energy": 12.326868,
        "activity_lines": [
          12.580667,
          12.406909,
          12.639857,
          12.840065
        ]
      },
      {
        "date": "2026-05-29",
        "close": 13.43,
        "volume": 10274,
        "typical_volume": 5977.75,
        "trend": 12.999667,
        "fair_value": 15.221295,
        "relative_strength": -16.061372,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -10.179254,
        "energy": 14.992766,
        "activity_lines": [
          12.94,
          12.589273,
          12.683619,
          12.869505
        ]
      },
      {
        "date": "2026-06-05",
        "close": 12.86,
        "volume": 0,
        "typical_volume": 5890.1,
        "trend": 12.967,
        "fair_value": 15.049821,
        "relative_strength": -15.70149,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "mixed",
        "direction": -1.586895,
        "energy": 14.102227,
        "activity_lines": [
          12.987333,
          12.664364,
          12.678905,
          12.860495
        ]
      },
      {
        "date": "2026-06-12",
        "close": 12.9,
        "volume": 0,
        "typical_volume": 5413.8,
        "trend": 12.991,
        "fair_value": 14.884051,
        "relative_strength": -16.525133,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 10.579645,
        "energy": 21.54214,
        "activity_lines": [
          13.022667,
          12.739455,
          12.68481,
          12.856172
        ]
      },
      {
        "date": "2026-06-19",
        "close": 13.67,
        "volume": 13336,
        "typical_volume": 5521.4,
        "trend": 13.029333,
        "fair_value": 14.728474,
        "relative_strength": -7.154581,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 23.193019,
        "energy": 23.791687,
        "activity_lines": [
          13.268,
          12.946545,
          12.770905,
          12.899978
        ]
      },
      {
        "date": "2026-06-26",
        "close": 17.74,
        "volume": 6806,
        "typical_volume": 5854.8,
        "trend": 13.199667,
        "fair_value": 14.599115,
        "relative_strength": 23.390384,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.963954,
        "energy": 79.095703,
        "activity_lines": [
          14.748667,
          13.871636,
          13.242286,
          13.203892
        ]
      },
      {
        "date": "2026-07-03",
        "close": 16.22,
        "volume": 6269,
        "typical_volume": 6086.6,
        "trend": 13.324333,
        "fair_value": 14.454436,
        "relative_strength": 9.950921,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 74.903434,
        "energy": 78.151167,
        "activity_lines": [
          15.448667,
          14.414182,
          13.547143,
          13.398753
        ]
      },
      {
        "date": "2026-07-10",
        "close": 12.24,
        "volume": 39251,
        "typical_volume": 8012.15,
        "trend": 13.313333,
        "fair_value": 14.285782,
        "relative_strength": -15.43765,
        "stage": 4,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 41.07734,
        "energy": 47.699258,
        "activity_lines": [
          14.636,
          14.149091,
          13.458571,
          13.328796
        ]
      },
      {
        "date": "2026-07-17",
        "close": 13.06,
        "volume": 12830,
        "typical_volume": 8599.65,
        "trend": 13.304333,
        "fair_value": 14.120013,
        "relative_strength": -11.426366,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 45.644882,
        "energy": 30.801724,
        "activity_lines": [
          14.138,
          14.037455,
          13.451333,
          13.312452
        ]
      },
      {
        "date": "2026-07-24",
        "close": 11.98,
        "volume": 6686,
        "typical_volume": 8772.15,
        "trend": 13.255333,
        "fair_value": 13.950205,
        "relative_strength": -20.647246,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -14.544018,
        "energy": 12.72953,
        "activity_lines": [
          13.269333,
          13.713818,
          13.340524,
          13.227011
        ]
      },
      {
        "date": "2026-07-31",
        "close": 10.99,
        "volume": 8362,
        "typical_volume": 9165.85,
        "trend": 13.15,
        "fair_value": 13.808667,
        "relative_strength": -25.012303,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -28.222301,
        "energy": 31.243874,
        "activity_lines": [
          12.183333,
          13.207818,
          13.141476,
          13.08086
        ]
      },
      {
        "date": "2026-08-07",
        "close": 10.97,
        "volume": 3713,
        "typical_volume": 9349.55,
        "trend": 13.027333,
        "fair_value": 13.651872,
        "relative_strength": -24.770623,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -54.348318,
        "energy": 42.535535,
        "activity_lines": [
          11.540667,
          12.746182,
          12.95119,
          12.940215
        ]
      }
    ],
    "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."
    }
  }
}