{
  "ticker": {
    "uuid": "637e9052-8908-426e-ac30-21c0570cd12f",
    "symbol": "VIC",
    "name": "Victorian Plumbing Group 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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 50.128,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -39.891,
    "architecture_energy": 31.966,
    "architecture_maturity": 34.515,
    "architecture_confidence": 72.066,
    "architecture_tenure": "Established",
    "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": 42.3,
        "rotation_up": 11.86,
        "upward_expansion": 13.49,
        "deceleration": 47.38,
        "rotation_down": 57.74,
        "downward_expansion": 72.49
      },
      "activity_lines": [
        0.761909,
        0.776055,
        0.784443,
        0.781642
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 0.76,
    "trend_reference": 0.784668,
    "distance_from_trend": -0.031438,
    "trend_direction": "Improving",
    "fair_value": 0.826332,
    "distance_from_fair_value": -0.080272,
    "fair_value_direction": "Weakening",
    "relative_strength": -5.941421,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.11215,
    "excess_performance": -0.163385,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.031438,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.0313,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.080272,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.067763,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.059414,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.099567,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.11215,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.218134,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 903334,
      "relative_activity": 0.681729,
      "balance": 3.218134,
      "dry_up": 1.267564,
      "accumulation_observations": 4,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.081576,
      "annualized_volatility": 0.291742,
      "from_high_reference": -0.155556,
      "from_low_reference": 0.361761
    },
    "levels": {
      "trend_reference": 0.784668,
      "fair_value_reference": 0.826332,
      "structural_low": 0.63861,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.010363,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.012765,
        "regime_survival": 0.5,
        "best_return": 0.129376,
        "worst_return": -0.270142,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.004761,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.021508,
        "regime_survival": 0.4,
        "best_return": 0.290935,
        "worst_return": -0.341104,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.182856,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.085725,
        "regime_survival": 0.333333,
        "best_return": 0.217785,
        "worst_return": -0.337967,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.008816,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.149905,
        "regime_survival": 0.0,
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        "worst_return": -0.161698,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "tenure": "Developing",
        "return": 0.083757,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "Developing",
        "return": -0.057376,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
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      {
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        "active": false
      },
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        "regime": "balance",
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      {
        "regime": "downward_expansion",
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    ],
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      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 1303503.35,
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        "stage": 2,
        "regime": "balance",
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        "direction": 20.405727,
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      },
      {
        "date": "2026-07-24",
        "close": 0.75,
        "volume": 663708,
        "typical_volume": 1288426.9,
        "trend": 0.783944,
        "fair_value": 0.826238,
        "relative_strength": -6.026638,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -6.481242,
        "energy": 11.651135,
        "activity_lines": [
          0.770293,
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          0.786011,
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      },
      {
        "date": "2026-07-31",
        "close": 0.769,
        "volume": 1465367,
        "typical_volume": 1332617.25,
        "trend": 0.785144,
        "fair_value": 0.826313,
        "relative_strength": -4.652485,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -19.201328,
        "energy": 19.116015,
        "activity_lines": [
          0.766823,
          0.782186,
          0.785662,
          0.783265
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.76,
        "volume": 903334,
        "typical_volume": 1325063.35,
        "trend": 0.784668,
        "fair_value": 0.826332,
        "relative_strength": -5.941421,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -39.890908,
        "energy": 31.966098,
        "activity_lines": [
          0.761909,
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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."
    }
  }
}