{
  "ticker": {
    "uuid": "7488867e-244f-430c-8320-43c6089e7f35",
    "symbol": "VOD",
    "name": "Vodafone Group Public Limited Company",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "up",
    "architecture_direction": 61.18,
    "architecture_energy": 42.122,
    "architecture_maturity": 13.42,
    "architecture_confidence": 70.536,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 38.01,
        "rotation_up": 69.06,
        "upward_expansion": 76.33,
        "deceleration": 57.87,
        "rotation_down": 11.53,
        "downward_expansion": 5.33
      },
      "activity_lines": [
        117.56,
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        112.893162,
        112.699692
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 120.5,
    "trend_reference": 111.849477,
    "distance_from_trend": 0.077341,
    "trend_direction": "Improving",
    "fair_value": 82.442695,
    "distance_from_fair_value": 0.461621,
    "fair_value_direction": "Weakening",
    "relative_strength": 8.368284,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.089512,
    "excess_performance": 0.038276,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.077341,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.053112,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.461621,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.03325,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.083683,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.103373,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.089512,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.02657,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 790532375,
      "relative_activity": 2.247342,
      "balance": 3.02657,
      "dry_up": 1.833183,
      "accumulation_observations": 6,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.073376,
      "annualized_volatility": 0.300527,
      "from_high_reference": -0.080663,
      "from_low_reference": 0.445151
    },
    "levels": {
      "trend_reference": 111.849477,
      "fair_value_reference": 82.442695,
      "structural_low": 96.923,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 19,
        "median_return": -0.019585,
        "positive_rate": 0.473684,
        "directional_follow_through": 0.473684,
        "median_excess_return": -0.010996,
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        "worst_return": -0.171324,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
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        "positive_rate": 0.375,
        "directional_follow_through": 0.375,
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        "regime_survival": 0.125,
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        "worst_return": -0.20603,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.002289,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.333333,
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        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.33135,
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    ],
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      },
      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "tenure": "Established",
        "return": 0.049204,
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      },
      {
        "regime": "balance",
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      {
        "regime": "rotation_up",
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      },
      {
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      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      {
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        "regime": "upward_expansion",
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        "date": "2026-04-10",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
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        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 388438980.4,
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        "fair_value": 80.197583,
        "relative_strength": 7.19016,
        "stage": 2,
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        "energy": 18.654132,
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      },
      {
        "date": "2026-06-12",
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        "volume": 30630224,
        "typical_volume": 375246744.0,
        "trend": 107.671477,
        "fair_value": 80.467893,
        "relative_strength": 10.688135,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-19",
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        "fair_value": 80.688641,
        "relative_strength": 3.073594,
        "stage": 2,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 80.892543,
        "relative_strength": 0.132594,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "energy": 13.449621,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
        "close": 98.7,
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        "typical_volume": 314703466.4,
        "trend": 108.784477,
        "fair_value": 81.072756,
        "relative_strength": -7.951224,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -38.254131,
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      },
      {
        "date": "2026-07-10",
        "close": 110.1,
        "volume": 374205293,
        "typical_volume": 314073533.85,
        "trend": 109.300477,
        "fair_value": 81.316511,
        "relative_strength": 4.159894,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.030034,
        "energy": 39.602472,
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      },
      {
        "date": "2026-07-17",
        "close": 117.8,
        "volume": 789187223,
        "typical_volume": 332678083.95,
        "trend": 110.00781,
        "fair_value": 81.601242,
        "relative_strength": 9.943394,
        "stage": 2,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": 0.416617,
        "energy": 7.335109,
        "activity_lines": [
          109.586667,
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      },
      {
        "date": "2026-07-24",
        "close": 114.6,
        "volume": 368896896,
        "typical_volume": 333351997.1,
        "trend": 110.58581,
        "fair_value": 81.851126,
        "relative_strength": 5.333456,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 6.552821,
        "energy": 5.688356,
        "activity_lines": [
          111.836667,
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      },
      {
        "date": "2026-07-31",
        "close": 117.85,
        "volume": 630768780,
        "typical_volume": 347537996.7,
        "trend": 111.206143,
        "fair_value": 82.135473,
        "relative_strength": 6.660207,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 45.564653,
        "energy": 31.461399,
        "activity_lines": [
          114.663333,
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      },
      {
        "date": "2026-08-07",
        "close": 120.5,
        "volume": 790532375,
        "typical_volume": 351763261.3,
        "trend": 111.849477,
        "fair_value": 82.442695,
        "relative_strength": 8.368284,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 61.180284,
        "energy": 42.121943,
        "activity_lines": [
          117.56,
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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."
    }
  }
}