{
  "ticker": {
    "uuid": "bf3a2445-458a-4ad5-ae20-f9942ac3cc8c",
    "symbol": "PAM",
    "name": "Potter & Moore 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": 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": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "down",
    "architecture_direction": -43.452,
    "architecture_energy": 22.148,
    "architecture_maturity": 11.658,
    "architecture_confidence": 75.187,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 58.48,
        "rotation_up": 19.31,
        "upward_expansion": 1.32,
        "deceleration": 51.2,
        "rotation_down": 40.25,
        "downward_expansion": 69.99
      },
      "activity_lines": [
        0.229544,
        0.230435,
        0.231217,
        0.235886
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Stable",
      "price_acceptance": -0.333333
    },
    "latest_close": 0.235,
    "trend_reference": 0.245372,
    "distance_from_trend": -0.04227,
    "trend_direction": "Weakening",
    "fair_value": 0.276759,
    "distance_from_fair_value": -0.150886,
    "fair_value_direction": "Improving",
    "relative_strength": -20.019823,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.145455,
    "excess_performance": -0.19669,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.04227,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.081463,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.150886,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.054828,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.200198,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.114422,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.145455,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.938349,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 492240,
      "relative_activity": 1.077708,
      "balance": 0.938349,
      "dry_up": 0.956892,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.111459,
      "annualized_volatility": 0.340424,
      "from_high_reference": -0.347222,
      "from_low_reference": 0.119048
    },
    "levels": {
      "trend_reference": 0.245372,
      "fair_value_reference": 0.276759,
      "structural_low": 0.21,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 13,
        "median_return": -0.014085,
        "positive_rate": 0.384615,
        "directional_follow_through": 0.384615,
        "median_excess_return": 0.01684,
        "regime_survival": 0.461538,
        "best_return": 0.48125,
        "worst_return": -0.159421,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.01449,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": 0.057248,
        "regime_survival": 0.142857,
        "best_return": 0.413797,
        "worst_return": -0.290324,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.062971,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.068381,
        "regime_survival": 0.0,
        "best_return": 0.504093,
        "worst_return": -0.233333,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.358372,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.368805,
        "regime_survival": 0.0,
        "best_return": 0.725287,
        "worst_return": -0.434785,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-01",
        "end": "2024-11-15",
        "tenure": "New",
        "return": 0.213795,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-22",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": -0.088235,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-10",
        "end": "2025-03-07",
        "tenure": "Developing",
        "return": -0.01724,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-14",
        "end": "2025-03-28",
        "tenure": "New",
        "return": -0.01724,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-04",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.111111,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-02",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.042255,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-16",
        "end": "2025-05-23",
        "tenure": "New",
        "return": 0.114289,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-30",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": -0.097561,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-18",
        "end": "2025-08-29",
        "tenure": "Developing",
        "return": -0.044046,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-09-05",
        "end": "2025-10-17",
        "tenure": "Developing",
        "return": -0.196429,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-24",
        "end": "2025-12-19",
        "tenure": "Developing",
        "return": 0.034483,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-26",
        "end": "2026-01-16",
        "tenure": "New",
        "return": -0.083333,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-23",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": -0.18408,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.003703,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 377663.75,
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      },
      {
        "date": "2026-07-17",
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        "volume": 272665,
        "typical_volume": 423080.35,
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        "stage": 4,
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        "energy": 24.642194,
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          0.23242,
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      },
      {
        "date": "2026-07-24",
        "close": 0.234133,
        "volume": 319597,
        "typical_volume": 431304.7,
        "trend": 0.249555,
        "fair_value": 0.277729,
        "relative_strength": -21.230842,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -34.251553,
        "energy": 16.216318,
        "activity_lines": [
          0.232232,
          0.232123,
          0.232278,
          0.238602
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      },
      {
        "date": "2026-07-31",
        "close": 0.2195,
        "volume": 663728,
        "typical_volume": 448359.5,
        "trend": 0.247038,
        "fair_value": 0.277179,
        "relative_strength": -25.990867,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -53.515255,
        "energy": 26.299814,
        "activity_lines": [
          0.227955,
          0.229729,
          0.230913,
          0.236663
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.235,
        "volume": 492240,
        "typical_volume": 456747.05,
        "trend": 0.245372,
        "fair_value": 0.276759,
        "relative_strength": -20.019823,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -43.451911,
        "energy": 22.147817,
        "activity_lines": [
          0.229544,
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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."
    }
  }
}