{ "ticker": { "uuid": "a89d0d3a-3d85-4efb-b822-884a0b0e1c57", "symbol": "VLN", "name": "Velan Inc.", "exchange": "TOR", "country": "CA", "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": "^GSPTSE", "stage": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 93.991, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 87.221, "architecture_energy": 93.859, "architecture_maturity": 16.275, "architecture_confidence": 71.574, "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": 10.07, "rotation_up": 87.44, "upward_expansion": 99.97, "deceleration": 39.01, "rotation_down": 8.21, "downward_expansion": 21.97 }, "activity_lines": [ 17.896, 17.310909, 16.645524, 16.368968 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 1.0 }, "latest_close": 18.469999, "trend_reference": 16.013, "distance_from_trend": 0.153438, "trend_direction": "Weakening", "fair_value": 11.594816, "distance_from_fair_value": 0.592953, "fair_value_direction": "Improving", "relative_strength": 0.650717, "relative_strength_direction": "Improving", "price_momentum": 0.231333, "excess_performance": 0.110912, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.153438, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.025949, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.592953, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.207582, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.006507, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.134206, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.231333, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 8.75188, "read": "Demand-led" } ], "volume": { "latest": 2700, "relative_activity": 0.264966, "balance": 8.75188, "dry_up": 1.410697, "accumulation_observations": 4, "distribution_observations": 1 }, "risk": { "range_context": 0.0364, "annualized_volatility": 0.204242, "from_high_reference": -0.052821, "from_low_reference": 0.35709 }, "levels": { "trend_reference": 16.013, "fair_value_reference": 11.594816, "structural_low": 14.77, "invalidation": "A 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"stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.431038, "energy": 29.703524, "activity_lines": [ 15.566, 15.586545, 15.652714, 15.956833 ] }, { "date": "2026-06-05", "close": 15.75, "volume": 3700, "typical_volume": 20910.0, "trend": 16.417666, "fair_value": 11.288689, "relative_strength": -10.769023, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -37.091707, "energy": 19.760346, "activity_lines": [ 15.638, 15.607091, 15.668095, 15.912344 ] }, { "date": "2026-06-12", "close": 15.51, "volume": 800, "typical_volume": 15405.0, "trend": 16.338, "fair_value": 11.30916, "relative_strength": -13.2349, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -43.266648, "energy": 26.04188, "activity_lines": [ 15.596667, 15.584, 15.655952, 15.853785 ] }, { "date": "2026-06-19", "close": 16.91, "volume": 4700, "typical_volume": 13565.0, "trend": 16.308333, "fair_value": 11.338543, "relative_strength": -5.348486, "stage": 4, "regime": "rotation_up", "modifier": "Structural repair", "gate": "down", "direction": 12.301973, "energy": 17.07792, "activity_lines": [ 16.022667, 15.818909, 15.776286, 15.890688 ] }, { "date": "2026-06-26", "close": 16.09, "volume": 0, "typical_volume": 10700.0, "trend": 16.242, "fair_value": 11.36304, "relative_strength": -9.719628, "stage": 4, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "down", "direction": -10.597093, "energy": 19.491924, "activity_lines": [ 16.111333, 15.888, 15.809714, 15.876602 ] }, { "date": "2026-07-03", "close": 16.299999, "volume": 0, "typical_volume": 9950.0, "trend": 16.175333, "fair_value": 11.389069, "relative_strength": -9.054187, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 16.783037, "energy": 29.804885, "activity_lines": [ 16.224, 15.993636, 15.857952, 15.880344 ] }, { "date": "2026-07-10", "close": 16.889999, "volume": 21500, "typical_volume": 10545.0, "trend": 16.128333, "fair_value": 11.419002, "relative_strength": -5.689179, "stage": 4, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 43.186061, "energy": 51.684075, "activity_lines": [ 16.483333, 16.187636, 15.958286, 15.926451 ] }, { "date": "2026-07-17", "close": 17.1, "volume": 9400, "typical_volume": 10505.0, "trend": 16.089333, "fair_value": 11.450282, "relative_strength": -4.21442, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "mixed", "direction": 43.951705, "energy": 59.22831, "activity_lines": [ 16.736666, 16.39, 16.074619, 15.98914 ] }, { "date": "2026-07-24", "close": 17.4, "volume": 4700, "typical_volume": 9950.0, "trend": 16.059333, "fair_value": 11.483793, "relative_strength": -2.649488, "stage": 3, "regime": "rotation_up", "modifier": "Value reclamation", "gate": "up", "direction": 79.217607, "energy": 79.691662, "activity_lines": [ 16.984, 16.618182, 16.214286, 16.073699 ] }, { "date": "2026-07-31", "close": 18.200001, "volume": 40700, "typical_volume": 11035.0, "trend": 16.034, "fair_value": 11.53847, "relative_strength": 2.348382, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 88.208475, "energy": 89.938398, "activity_lines": [ 17.465333, 16.965454, 16.422286, 16.211806 ] }, { "date": "2026-08-07", "close": 18.469999, "volume": 2700, "typical_volume": 10190.0, "trend": 16.013, "fair_value": 11.594816, "relative_strength": 0.650717, "stage": 3, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 87.22133, "energy": 93.859019, "activity_lines": [ 17.896, 17.310909, 16.645524, 16.368968 ] } ], "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." } } }