{
  "ticker": {
    "uuid": "c92c5782-f8c2-4886-b72a-b54a5df9d236",
    "symbol": "NVMI",
    "name": "Nova Ltd.",
    "exchange": "TLV",
    "country": "IL",
    "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": "TA35.TA",
    "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": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -68.073,
    "architecture_energy": 67.323,
    "architecture_maturity": 79.463,
    "architecture_confidence": 95.389,
    "architecture_tenure": "Developing",
    "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": 4.37,
        "rotation_up": 29.83,
        "upward_expansion": 12.0,
        "deceleration": 60.18,
        "rotation_down": 58.64,
        "downward_expansion": 87.67
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      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.833333
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    "latest_close": 1204.1,
    "trend_reference": 97103.353333,
    "distance_from_trend": -0.9876,
    "trend_direction": "Weakening",
    "fair_value": 78957.247436,
    "distance_from_fair_value": -0.98475,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.895563,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.991114,
    "excess_performance": -1.020014,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.9876,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.259702,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.98475,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.862699,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.988956,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -1.039541,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.991114,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.62376,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 509983,
      "relative_activity": 2.034912,
      "balance": 0.62376,
      "dry_up": 1.709182,
      "accumulation_observations": 3,
      "distribution_observations": 4
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    "risk": {
      "range_context": 13.291447,
      "annualized_volatility": 6.367444,
      "from_high_reference": -0.992677,
      "from_low_reference": 0.063881
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    "levels": {
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      "fair_value_reference": 78957.247436,
      "structural_low": 1131.8,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 13,
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        "positive_rate": 0.692308,
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        "worst_return": -0.166153,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.175234,
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      },
      {
        "horizon": "Extended",
        "sample_count": 4,
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        "directional_follow_through": 0.25,
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      {
        "horizon": "Full cycle",
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        "regime": "rotation_down",
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        "regime": "downward_expansion",
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        "regime": "rotation_up",
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 239841.45,
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        "fair_value": 79514.430128,
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        "stage": 4,
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 243135.3,
        "trend": 101074.883333,
        "fair_value": 79240.939103,
        "relative_strength": -98.895556,
        "stage": 4,
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        "modifier": "Early contraction",
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        "direction": -68.28721,
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        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 1204.1,
        "volume": 509983,
        "typical_volume": 250616.75,
        "trend": 97103.353333,
        "fair_value": 78957.247436,
        "relative_strength": -98.895563,
        "stage": 4,
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        "modifier": "Early contraction",
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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."
    }
  }
}