{ "ticker": { "uuid": "68829b0a-6288-4e6e-b88c-de871f5ed55e", "symbol": "TRYP", "name": "HANetf ICAV - US Global Investors Travel UCITS ETF", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "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": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 92.474, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 64.018, "architecture_energy": 44.509, "architecture_maturity": 48.29, "architecture_confidence": 52.763, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 29.26, "rotation_up": 45.44, "upward_expansion": 67.96, "deceleration": 64.31, "rotation_down": 25.66, "downward_expansion": 17.96 }, "activity_lines": [ 9.421733, 9.422164, 9.118205, 8.941249 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 9.668, "trend_reference": 8.8065, "distance_from_trend": 0.097825, "trend_direction": "Improving", "fair_value": 7.558018, "distance_from_fair_value": 0.279171, "fair_value_direction": "Improving", "relative_strength": -4.710401, "relative_strength_direction": "Improving", "price_momentum": 0.053159, "excess_performance": -0.117733, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.097825, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.026821, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.279171, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.127531, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.047104, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.069219, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.053159, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 5.327898, "read": "Demand-led" } ], "volume": { "latest": 7235, "relative_activity": 0.291557, "balance": 5.327898, "dry_up": 2.58317, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.036369, "annualized_volatility": 0.225684, "from_high_reference": -0.01226, "from_low_reference": 0.230025 }, "levels": { "trend_reference": 8.8065, "fair_value_reference": 7.558018, "structural_low": 7.963, "invalidation": "A 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8.819514 ] }, { "date": "2026-07-24", "close": 9.203, "volume": 118758, "typical_volume": 23653.9, "trend": 8.782633, "fair_value": 7.516377, "relative_strength": -6.272871, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 60.977249, "energy": 54.373024, "activity_lines": [ 9.362267, 9.308636, 8.970143, 8.846903 ] }, { "date": "2026-07-31", "close": 9.372, "volume": 121175, "typical_volume": 28360.4, "trend": 8.795, "fair_value": 7.536306, "relative_strength": -5.052231, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 49.733658, "energy": 38.801285, "activity_lines": [ 9.3298, 9.348073, 9.032986, 8.884927 ] }, { "date": "2026-08-07", "close": 9.668, "volume": 7235, "typical_volume": 24815.05, "trend": 8.8065, "fair_value": 7.558018, "relative_strength": -4.710401, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 64.018143, "energy": 44.509376, "activity_lines": [ 9.421733, 9.422164, 9.118205, 8.941249 ] } ], "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." } } }