{
  "ticker": {
    "uuid": "9780bf55-2e66-44f0-92eb-0603b0971a2c",
    "symbol": "STO",
    "name": "Santos Limited",
    "exchange": "ASX",
    "country": "AU",
    "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": "^AXJO",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 93.862,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Re-acceleration watch",
    "architecture_gate": "up",
    "architecture_direction": 36.794,
    "architecture_energy": 27.675,
    "architecture_maturity": 25.211,
    "architecture_confidence": 60.35,
    "architecture_tenure": "Developing",
    "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": 46.61,
        "rotation_up": 57.69,
        "upward_expansion": 66.8,
        "deceleration": 63.01,
        "rotation_down": 11.24,
        "downward_expansion": 10.14
      },
      "activity_lines": [
        7.77,
        7.642182,
        7.694,
        7.657183
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 7.66,
    "trend_reference": 7.471845,
    "distance_from_trend": 0.025182,
    "trend_direction": "Improving",
    "fair_value": 6.765852,
    "distance_from_fair_value": 0.132156,
    "fair_value_direction": "Improving",
    "relative_strength": 2.689868,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.135598,
    "excess_performance": 0.071893,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.025182,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.069227,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.132156,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.004166,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.026899,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.061772,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.135598,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.972919,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 47325470,
      "relative_activity": 0.90343,
      "balance": 1.972919,
      "dry_up": 1.134879,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.050462,
      "annualized_volatility": 0.308525,
      "from_high_reference": -0.070388,
      "from_low_reference": 0.326148
    },
    "levels": {
      "trend_reference": 7.471845,
      "fair_value_reference": 6.765852,
      "structural_low": 6.28521,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.008866,
        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.031043,
        "regime_survival": 0.25,
        "best_return": 0.052493,
        "worst_return": -0.076812,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.039113,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.077456,
        "regime_survival": 0.0,
        "best_return": -0.002144,
        "worst_return": -0.115942,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.004893,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.071377,
        "regime_survival": 0.0,
        "best_return": 0.176883,
        "worst_return": -0.073773,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.012962,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.104658,
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        "worst_return": -0.119176,
        "sufficient": false
      }
    ],
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        "regime": "rotation_up",
        "label": "Rotation Up",
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        "end": "2025-02-28",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-07",
        "end": "2025-06-06",
        "tenure": "Established",
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      },
      {
        "regime": "rotation_up",
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      },
      {
        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "tenure": "New",
        "return": -0.046377,
        "active": false
      },
      {
        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "end": "2025-11-21",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "return": 0.088509,
        "active": false
      },
      {
        "regime": "balance",
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        "color": "blue",
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        "active": false
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      {
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 57400304.95,
        "trend": 7.417208,
        "fair_value": 6.760349,
        "relative_strength": 8.391406,
        "stage": 2,
        "regime": "deceleration",
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        "direction": 40.140903,
        "energy": 29.009236,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-08-07",
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        "volume": 47325470,
        "typical_volume": 52384207.55,
        "trend": 7.471845,
        "fair_value": 6.765852,
        "relative_strength": 2.689868,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 36.793907,
        "energy": 27.675207,
        "activity_lines": [
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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."
    }
  }
}