{ "ticker": { "uuid": "5b8187cf-6553-4dbe-b073-4d810e37efa4", "symbol": "PHP", "name": "Primary Health Properties 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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 65.074, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "mixed", "architecture_direction": 26.384, "architecture_energy": 34.064, "architecture_maturity": 11.075, "architecture_confidence": 61.551, "architecture_tenure": "Developing", "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": 39.38, "rotation_up": 61.17, "upward_expansion": 49.25, "deceleration": 20.24, "rotation_down": 17.05, "downward_expansion": 19.59 }, "activity_lines": [ 0.948833, 0.9412, 0.930515, 0.933871 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 0.959, "trend_reference": 0.946287, "distance_from_trend": 0.013434, "trend_direction": "Improving", "fair_value": 0.852995, "distance_from_fair_value": 0.124274, "fair_value_direction": "Improving", "relative_strength": -3.715188, "relative_strength_direction": "Improving", "price_momentum": -0.030723, "excess_performance": -0.081958, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.013434, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.004565, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.124274, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.027964, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.037152, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.013708, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.030723, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.012297, "read": "Demand-led" } ], "volume": { "latest": 62898065, "relative_activity": 1.320082, "balance": 1.012297, "dry_up": 1.23053, "accumulation_observations": 3, "distribution_observations": 3 }, "risk": { "range_context": 0.033422, "annualized_volatility": 0.213407, "from_high_reference": -0.089976, "from_low_reference": 0.175836 }, "levels": { "trend_reference": 0.946287, "fair_value_reference": 0.852995, "structural_low": 0.858631, "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration." }, "outcomes": [ { "horizon": "Near term", "sample_count": 18, "median_return": -0.003779, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.009351, "regime_survival": 0.5, "best_return": 0.071212, "worst_return": -0.161242, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": -0.017549, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.046351, "regime_survival": 0.444444, "best_return": 0.084228, "worst_return": -0.181144, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.030943, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": -0.100444, "regime_survival": 0.2, "best_return": 0.053934, "worst_return": -0.200406, "sufficient": true }, { 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"Balance after decline", "gate": "down", "direction": 0.027808, "energy": 15.592125, "activity_lines": [ 0.942037, 0.931768, 0.924704, 0.933197 ] }, { "date": "2026-07-31", "close": 0.9445, "volume": 83245324, "typical_volume": 49916085.75, "trend": 0.946827, "fair_value": 0.851706, "relative_strength": -5.043131, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.144559, "energy": 16.056566, "activity_lines": [ 0.942867, 0.935441, 0.926888, 0.933086 ] }, { "date": "2026-08-07", "close": 0.959, "volume": 62898065, "typical_volume": 47647093.35, "trend": 0.946287, "fair_value": 0.852995, "relative_strength": -3.715188, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 26.38417, "energy": 34.064454, "activity_lines": [ 0.948833, 0.9412, 0.930515, 0.933871 ] } ], "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." } } }