{ "ticker": { "uuid": "7b7c4ffa-5b66-43bb-800e-531f7cb23e72", "symbol": "STE", "name": "STERIS plc", "exchange": "NYSE", "country": "US", "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": "SPY", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 76.895, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "mixed", "architecture_direction": 32.714, "architecture_energy": 30.882, "architecture_maturity": 10.019, "architecture_confidence": 58.656, "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": 46.01, "rotation_up": 57.63, "upward_expansion": 34.52, "deceleration": 34.1, "rotation_down": 15.08, "downward_expansion": 20.85 }, "activity_lines": [ 226.322667, 220.946999, 217.431333, 219.417781 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.333333 }, "latest_close": 237.47, "trend_reference": 226.110639, "distance_from_trend": 0.050238, "trend_direction": "Weakening", "fair_value": 224.778845, "distance_from_fair_value": 0.056461, "fair_value_direction": "Improving", "relative_strength": -10.542297, "relative_strength_direction": "Improving", "price_momentum": -0.053007, "excess_performance": -0.178632, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.050238, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.055463, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.056461, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.134645, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.105423, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.131425, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.053007, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.391734, "read": "Demand-led" } ], "volume": { "latest": 4798439, "relative_activity": 1.279972, "balance": 1.391734, "dry_up": 1.02779, "accumulation_observations": 5, "distribution_observations": 2 }, "risk": { "range_context": 0.057463, "annualized_volatility": 0.244158, "from_high_reference": -0.113741, "from_low_reference": 0.220571 }, "levels": { "trend_reference": 226.110639, "fair_value_reference": 224.778845, "structural_low": 194.556414, "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": 14, "median_return": 0.028639, "positive_rate": 0.642857, "directional_follow_through": 0.642857, "median_excess_return": 0.006917, "regime_survival": 0.285714, "best_return": 0.132511, "worst_return": -0.122162, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.001392, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.033637, "regime_survival": 0.125, "best_return": 0.116859, "worst_return": -0.135966, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": -0.017218, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.0641, "regime_survival": 0.166667, "best_return": 0.16344, "worst_return": -0.085798, 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-16.237144, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -28.718243, "energy": 16.483085, "activity_lines": [ 216.118667, 213.985905, 214.103208, 218.657877 ] }, { "date": "2026-07-31", "close": 228.4, "volume": 4165686, "typical_volume": 3722560.5, "trend": 226.708183, "fair_value": 224.674933, "relative_strength": -11.306544, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": 2.241692, "energy": 10.019808, "activity_lines": [ 220.133333, 216.75534, 215.369823, 218.72347 ] }, { "date": "2026-08-07", "close": 237.47, "volume": 4798439, "typical_volume": 3748863.8, "trend": 226.110639, "fair_value": 224.778845, "relative_strength": -10.542297, "stage": 1, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 32.714159, "energy": 30.881525, "activity_lines": [ 226.322667, 220.946999, 217.431333, 219.417781 ] } ], "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." } } }