{
  "ticker": {
    "uuid": "bb251687-c972-4515-b384-9c3e7a2e4f34",
    "symbol": "HILS",
    "name": "Hill & Smith PLC",
    "exchange": "LSE",
    "country": "GB",
    "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": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 79.435,
    "architecture_energy": 63.581,
    "architecture_maturity": 61.358,
    "architecture_confidence": 89.82,
    "architecture_tenure": "Established",
    "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": 4.72,
        "rotation_up": 66.15,
        "upward_expansion": 85.51,
        "deceleration": 62.3,
        "rotation_down": 21.75,
        "downward_expansion": 9.85
      },
      "activity_lines": [
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        2696.070664
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.833333
    },
    "latest_close": 3095.0,
    "trend_reference": 2548.646826,
    "distance_from_trend": 0.21437,
    "trend_direction": "Improving",
    "fair_value": 2057.416514,
    "distance_from_fair_value": 0.504314,
    "fair_value_direction": "Improving",
    "relative_strength": 20.425056,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.388066,
    "excess_performance": 0.321788,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.21437,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.105768,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.504314,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.179878,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.204251,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.06329,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.388066,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.604604,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 838454,
      "relative_activity": 0.957684,
      "balance": 2.604604,
      "dry_up": 1.181293,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.052965,
      "annualized_volatility": 0.288963,
      "from_high_reference": -0.015898,
      "from_low_reference": 0.586041
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    "levels": {
      "trend_reference": 2548.646826,
      "fair_value_reference": 2057.416514,
      "structural_low": 1993.750362,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 35,
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        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.007429,
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        "worst_return": -0.090336,
        "sufficient": true
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        "horizon": "Intermediate",
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        "worst_return": -0.210245,
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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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      },
      {
        "date": "2026-07-31",
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      },
      {
        "date": "2026-08-07",
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        "typical_volume": 875501.9,
        "trend": 2548.646826,
        "fair_value": 2057.416514,
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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."
    }
  }
}