{
  "ticker": {
    "uuid": "c5e170a4-674a-4a49-bdfd-2c02ee60bd6c",
    "symbol": "H1SB34",
    "name": "HSBC Holdings plc",
    "exchange": "SAO",
    "country": "BR",
    "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": "^BVSP",
    "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": 74.71,
    "architecture_energy": 84.487,
    "architecture_maturity": 44.72,
    "architecture_confidence": 85.443,
    "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": 0.52,
        "rotation_up": 81.61,
        "upward_expansion": 97.64,
        "deceleration": 40.68,
        "rotation_down": 10.78,
        "downward_expansion": 19.64
      },
      "activity_lines": [
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        123.587516,
        119.700282
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 134.0,
    "trend_reference": 115.617299,
    "distance_from_trend": 0.158996,
    "trend_direction": "Improving",
    "fair_value": 73.302575,
    "distance_from_fair_value": 0.828039,
    "fair_value_direction": "Improving",
    "relative_strength": 22.864365,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.199986,
    "excess_performance": 0.257034,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.158996,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.089069,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.828039,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.176414,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.228644,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.24211,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.199986,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.225672,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2481,
      "relative_activity": 1.005716,
      "balance": 4.225672,
      "dry_up": 0.828874,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.040177,
      "annualized_volatility": 0.224475,
      "from_high_reference": -0.03025,
      "from_low_reference": 0.667444
    },
    "levels": {
      "trend_reference": 115.617299,
      "fair_value_reference": 73.302575,
      "structural_low": 99.723132,
      "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": 38,
        "median_return": 0.036977,
        "positive_rate": 0.684211,
        "directional_follow_through": 0.684211,
        "median_excess_return": 0.011941,
        "regime_survival": 0.815789,
        "best_return": 0.117387,
        "worst_return": -0.11866,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.061428,
        "sufficient": true
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        "worst_return": 0.0202,
        "sufficient": true
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        "regime": "balance",
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      },
      {
        "date": "2026-04-24",
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        "typical_volume": 4836.5,
        "trend": 102.058624,
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        "relative_strength": -2.670786,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-01",
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        "relative_strength": 0.12408,
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      },
      {
        "date": "2026-05-08",
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        "trend": 103.481401,
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        "relative_strength": -1.346659,
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      },
      {
        "date": "2026-05-15",
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        "volume": 1030,
        "typical_volume": 4446.7,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 4492.0,
        "trend": 105.264558,
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        "relative_strength": 7.664783,
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 4469.75,
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": 13.951956,
        "stage": 2,
        "regime": "upward_expansion",
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        "activity_lines": [
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      {
        "date": "2026-06-12",
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        "typical_volume": 4227.4,
        "trend": 107.807068,
        "fair_value": 68.722525,
        "relative_strength": 11.563355,
        "stage": 2,
        "regime": "upward_expansion",
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      },
      {
        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "relative_strength": 13.804013,
        "stage": 2,
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        "gate": "up",
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        "energy": 74.08017,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 36,
        "typical_volume": 3309.55,
        "trend": 111.008121,
        "fair_value": 70.368772,
        "relative_strength": 17.079709,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 126.75,
        "volume": 926,
        "typical_volume": 3275.9,
        "trend": 111.959659,
        "fair_value": 70.928742,
        "relative_strength": 14.597205,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 79.127625,
        "energy": 87.370529,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 129.089996,
        "volume": 1476,
        "typical_volume": 3185.9,
        "trend": 112.769157,
        "fair_value": 71.502413,
        "relative_strength": 19.075345,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 80.058227,
        "energy": 88.347888,
        "activity_lines": [
          126.533999,
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          118.512012,
          115.843852
        ]
      },
      {
        "date": "2026-07-24",
        "close": 131.419998,
        "volume": 1431,
        "typical_volume": 2916.0,
        "trend": 113.613025,
        "fair_value": 72.090241,
        "relative_strength": 20.594672,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 81.226452,
        "energy": 89.722151,
        "activity_lines": [
          128.541999,
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          120.125249,
          117.047132
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      },
      {
        "date": "2026-07-31",
        "close": 135.369995,
        "volume": 2791,
        "typical_volume": 2646.25,
        "trend": 114.633149,
        "fair_value": 72.701051,
        "relative_strength": 20.906889,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 84.859093,
        "energy": 90.164242,
        "activity_lines": [
          131.315997,
          127.592181,
          121.996477,
          118.450808
        ]
      },
      {
        "date": "2026-08-07",
        "close": 134.0,
        "volume": 2481,
        "typical_volume": 2466.9,
        "trend": 115.617299,
        "fair_value": 73.302575,
        "relative_strength": 22.864365,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 74.709578,
        "energy": 84.487495,
        "activity_lines": [
          132.711331,
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          119.700282
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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."
    }
  }
}