{
  "ticker": {
    "uuid": "a39e85fd-2fc4-4edf-a1a4-6fe73f244fbb",
    "symbol": "THL",
    "name": "Tourism Holdings 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": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 58.428,
    "architecture_energy": 44.772,
    "architecture_maturity": 32.713,
    "architecture_confidence": 71.421,
    "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": 24.37,
        "rotation_up": 49.62,
        "upward_expansion": 77.88,
        "deceleration": 67.6,
        "rotation_down": 22.69,
        "downward_expansion": 6.88
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
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    "latest_close": 2.37,
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    "distance_from_trend": 0.149496,
    "trend_direction": "Improving",
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    "distance_from_fair_value": 0.119009,
    "fair_value_direction": "Improving",
    "relative_strength": 7.025521,
    "relative_strength_direction": "Improving",
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        "label": "Price vs Trend",
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        "value": 0.149496,
        "read": "Above"
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      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.025341,
        "read": "Rising"
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      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.119009,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.319912,
        "read": "Closing upward"
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      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.070255,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.181852,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
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        "value": 0.213576,
        "read": "Positive"
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      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.215909,
        "read": "Demand-led"
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      "relative_activity": 1.10556,
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      "dry_up": 0.812587,
      "accumulation_observations": 2,
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      "annualized_volatility": 0.536435,
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      "from_low_reference": 0.5
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      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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        "trend": 2.016414,
        "fair_value": 2.136283,
        "relative_strength": 11.203017,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 35.483853,
        "energy": 59.433063,
        "activity_lines": [
          2.188,
          2.055545,
          1.961566,
          1.976452
        ]
      },
      {
        "date": "2026-07-03",
        "close": 2.46,
        "volume": 49921,
        "typical_volume": 75288.9,
        "trend": 2.025098,
        "fair_value": 2.133617,
        "relative_strength": 18.926886,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 55.917256,
        "energy": 71.587773,
        "activity_lines": [
          2.283333,
          2.148636,
          2.010652,
          2.00507
        ]
      },
      {
        "date": "2026-07-10",
        "close": 2.44,
        "volume": 182774,
        "typical_volume": 83166.6,
        "trend": 2.036074,
        "fair_value": 2.130483,
        "relative_strength": 17.885023,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 48.178992,
        "energy": 69.315378,
        "activity_lines": [
          2.354667,
          2.224273,
          2.055652,
          2.031838
        ]
      },
      {
        "date": "2026-07-17",
        "close": 2.33,
        "volume": 15624,
        "typical_volume": 76482.0,
        "trend": 2.042726,
        "fair_value": 2.127325,
        "relative_strength": 12.203324,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 64.055913,
        "energy": 72.739486,
        "activity_lines": [
          2.362,
          2.266818,
          2.088068,
          2.050801
        ]
      },
      {
        "date": "2026-07-24",
        "close": 2.41,
        "volume": 17729,
        "typical_volume": 73982.85,
        "trend": 2.051058,
        "fair_value": 2.124339,
        "relative_strength": 15.827838,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.05952,
        "energy": 71.128927,
        "activity_lines": [
          2.392,
          2.313273,
          2.12767,
          2.074496
        ]
      },
      {
        "date": "2026-07-31",
        "close": 2.38,
        "volume": 140056,
        "typical_volume": 78277.2,
        "trend": 2.055103,
        "fair_value": 2.121472,
        "relative_strength": 11.270459,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 62.235287,
        "energy": 56.759607,
        "activity_lines": [
          2.391333,
          2.341636,
          2.162802,
          2.095718
        ]
      },
      {
        "date": "2026-08-07",
        "close": 2.37,
        "volume": 89386,
        "typical_volume": 80851.35,
        "trend": 2.061773,
        "fair_value": 2.117946,
        "relative_strength": 7.025521,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.428161,
        "energy": 44.772172,
        "activity_lines": [
          2.38,
          2.356364,
          2.194548,
          2.116034
        ]
      }
    ],
    "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."
    }
  }
}