{
  "ticker": {
    "uuid": "abd25ed7-06d4-4c90-b6a9-36167b7a2840",
    "symbol": "AFHL",
    "name": "Afcon Holdings Ltd",
    "exchange": "TLV",
    "country": "IL",
    "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": "TA35.TA",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -52.064,
    "architecture_energy": 61.289,
    "architecture_maturity": 67.389,
    "architecture_confidence": 64.858,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 27.07,
        "rotation_up": 27.72,
        "upward_expansion": 22.5,
        "deceleration": 62.14,
        "rotation_down": 43.23,
        "downward_expansion": 65.5
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 550.0,
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    "distance_from_trend": -0.978734,
    "trend_direction": "Weakening",
    "fair_value": 17187.01115,
    "distance_from_fair_value": -0.967999,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.077221,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.982469,
    "excess_performance": -1.011369,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.978734,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.280543,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.967999,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -2.704065,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.980772,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -1.30253,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.982469,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.747317,
        "read": "Supply-led"
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    ],
    "volume": {
      "latest": 94624,
      "relative_activity": 3.211343,
      "balance": 0.747317,
      "dry_up": 2.301764,
      "accumulation_observations": 2,
      "distribution_observations": 4
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    "risk": {
      "range_context": 8.740154,
      "annualized_volatility": 6.328409,
      "from_high_reference": -0.98873,
      "from_low_reference": 0.301159
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    "levels": {
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      "fair_value_reference": 17187.01115,
      "structural_low": 422.7,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 19,
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        "positive_rate": 0.421053,
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        "median_excess_return": -0.022116,
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        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 23365.5,
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      },
      {
        "date": "2026-07-31",
        "close": 600.0,
        "volume": 52888,
        "typical_volume": 25355.25,
        "trend": 26999.129531,
        "fair_value": 17259.559021,
        "relative_strength": -97.929564,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -62.594891,
        "energy": 65.384713,
        "activity_lines": [
          583.666667,
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      },
      {
        "date": "2026-08-07",
        "close": 550.0,
        "volume": 94624,
        "typical_volume": 29465.55,
        "trend": 25862.376016,
        "fair_value": 17187.01115,
        "relative_strength": -98.077221,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
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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."
    }
  }
}