{ "ticker": { "uuid": "c5e39e5b-42d0-40e6-9b06-390966a8705c", "symbol": "NZM", "name": "NZME Limited", "exchange": "NZE", "country": "NZ", "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": "^NZ50", "stage": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 62.823, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -55.735, "architecture_energy": 48.49, "architecture_maturity": 3.949, "architecture_confidence": 86.178, "architecture_tenure": "New", "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": 30.27, "rotation_up": 13.08, "upward_expansion": 9.23, "deceleration": 41.41, "rotation_down": 60.45, "downward_expansion": 82.56 }, "activity_lines": [ 1.072667, 1.082, 1.095214, 1.099795 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.666667 }, "latest_close": 1.075, "trend_reference": 1.101847, "distance_from_trend": -0.024366, "trend_direction": "Weakening", "fair_value": 0.943014, "distance_from_fair_value": 0.139962, "fair_value_direction": "Weakening", "relative_strength": -4.816309, "relative_strength_direction": "Weakening", "price_momentum": -0.011938, "excess_performance": -0.040211, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.024366, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.007475, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.139962, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.063171, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.048163, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.061787, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.011938, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.920643, "read": "Supply-led" } ], "volume": { "latest": 134549, "relative_activity": 0.184663, "balance": 0.920643, "dry_up": 0.186657, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.034347, "annualized_volatility": 0.196142, "from_high_reference": -0.088983, "from_low_reference": 0.125704 }, "levels": { "trend_reference": 1.101847, "fair_value_reference": 0.943014, "structural_low": 1.05, 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"Upper balance after advance", "gate": "mixed", "direction": -24.84387, "energy": 33.211359, "activity_lines": [ 1.091667, 1.102273, 1.106857, 1.10697 ] }, { "date": "2026-07-24", "close": 1.06, "volume": 206654, "typical_volume": 772371.5, "trend": 1.103522, "fair_value": 0.939292, "relative_strength": -6.079378, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -42.377091, "energy": 48.856081, "activity_lines": [ 1.080667, 1.092818, 1.101952, 1.10405 ] }, { "date": "2026-07-31", "close": 1.065, "volume": 106726, "typical_volume": 760940.5, "trend": 1.102439, "fair_value": 0.941096, "relative_strength": -5.00363, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "down", "direction": -64.603946, "energy": 60.11319, "activity_lines": [ 1.074333, 1.086, 1.097952, 1.101565 ] }, { "date": "2026-08-07", "close": 1.075, "volume": 134549, "typical_volume": 728619.2, "trend": 1.101847, "fair_value": 0.943014, "relative_strength": -4.816309, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -55.734533, "energy": 48.490381, "activity_lines": [ 1.072667, 1.082, 1.095214, 1.099795 ] } ], "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." } } }