{
  "ticker": {
    "uuid": "bf3373e8-52c8-4cf7-846e-b1f40f19ea83",
    "symbol": "GPE",
    "name": "Great Portland Estates 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": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 51.288,
    "architecture_energy": 67.617,
    "architecture_maturity": 17.923,
    "architecture_confidence": 65.257,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 7.9,
        "rotation_up": 74.87,
        "upward_expansion": 66.63,
        "deceleration": 18.68,
        "rotation_down": 18.66,
        "downward_expansion": 22.63
      },
      "activity_lines": [
        348.933333,
        341.665455,
        329.9369,
        325.376011
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 357.8,
    "trend_reference": 325.556293,
    "distance_from_trend": 0.099042,
    "trend_direction": "Improving",
    "fair_value": 324.882258,
    "distance_from_fair_value": 0.101322,
    "fair_value_direction": "Improving",
    "relative_strength": 2.19078,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.025392,
    "excess_performance": -0.025843,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.099042,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.016966,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.101322,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.137129,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.021908,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.110335,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.025392,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.504061,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 4735223,
      "relative_activity": 1.140514,
      "balance": 1.504061,
      "dry_up": 0.785874,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.045864,
      "annualized_volatility": 0.291901,
      "from_high_reference": -0.050764,
      "from_low_reference": 0.325415
    },
    "levels": {
      "trend_reference": 325.556293,
      "fair_value_reference": 324.882258,
      "structural_low": 269.953283,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": -0.010372,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.024317,
        "regime_survival": 0.333333,
        "best_return": 0.067981,
        "worst_return": -0.110145,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.011347,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.029339,
        "regime_survival": 0.0,
        "best_return": 0.033275,
        "worst_return": -0.10768,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.111785,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.141719,
        "regime_survival": 0.25,
        "best_return": 0.050628,
        "worst_return": -0.271333,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.199584,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.205537,
        "regime_survival": 0.0,
        "best_return": -0.067801,
        "worst_return": -0.331366,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.074132,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-07-25",
        "tenure": "Developing",
        "return": 0.049386,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-09-05",
        "tenure": "Developing",
        "return": -0.08397,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "active": false
      },
      {
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        "return": -0.110145,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-12-12",
        "tenure": "New",
        "return": -0.045383,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-01-09",
        "tenure": "New",
        "return": 0.058065,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "active": false
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        "regime": "upward_expansion",
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        "end": "2026-02-27",
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        "return": -0.005731,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-03-20",
        "tenure": "New",
        "return": -0.107034,
        "active": false
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      {
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        "return": 0.047359,
        "active": false
      },
      {
        "regime": "downward_expansion",
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        "end": "2026-06-05",
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        "active": false
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      {
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        "active": true
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      },
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 4873903.75,
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        "fair_value": 324.910132,
        "relative_strength": -1.266545,
        "stage": 1,
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        "direction": 31.169625,
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      },
      {
        "date": "2026-07-24",
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        "volume": 2329789,
        "typical_volume": 4502477.45,
        "trend": 323.409255,
        "fair_value": 324.881607,
        "relative_strength": -0.4801,
        "stage": 1,
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        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 44.020225,
        "energy": 58.824533,
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      },
      {
        "date": "2026-07-31",
        "close": 349.0,
        "volume": 3237242,
        "typical_volume": 4364650.85,
        "trend": 324.561069,
        "fair_value": 324.797885,
        "relative_strength": -0.31106,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 44.988405,
        "energy": 59.426151,
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      },
      {
        "date": "2026-08-07",
        "close": 357.8,
        "volume": 4735223,
        "typical_volume": 4151831.8,
        "trend": 325.556293,
        "fair_value": 324.882258,
        "relative_strength": 2.19078,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 51.288079,
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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."
    }
  }
}