{
  "ticker": {
    "uuid": "d451482e-e58c-4245-b316-a4be1625ed7d",
    "symbol": "9585",
    "name": "Mulkia Investment Co.",
    "exchange": "SAU",
    "country": "SA",
    "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": "^TASI.SR",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 96.0,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -33.569,
    "architecture_energy": 34.448,
    "architecture_maturity": 8.519,
    "architecture_confidence": 60.296,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 37.51,
        "rotation_up": 21.86,
        "upward_expansion": 28.99,
        "deceleration": 49.26,
        "rotation_down": 53.49,
        "downward_expansion": 37.99
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      "activity_lines": [
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        34.444435,
        34.369025
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      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 31.959999,
    "trend_reference": 33.873409,
    "distance_from_trend": -0.056487,
    "trend_direction": "Improving",
    "fair_value": 27.565076,
    "distance_from_fair_value": 0.159438,
    "fair_value_direction": "Weakening",
    "relative_strength": -1.192439,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.100447,
    "excess_performance": -0.068618,
    "evidence": [
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        "positive": false,
        "value": -0.056487,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.038892,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.159438,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.155619,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.011924,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.111758,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.100447,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.076237,
        "read": "Supply-led"
      }
    ],
    "volume": {
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      "relative_activity": 1.063456,
      "balance": 0.076237,
      "dry_up": 0.450432,
      "accumulation_observations": 0,
      "distribution_observations": 2
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    "risk": {
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      "annualized_volatility": 0.36077,
      "from_high_reference": -0.228955,
      "from_low_reference": 0.271239
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    "levels": {
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      "fair_value_reference": 27.565076,
      "structural_low": 28.000055,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
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        "sample_count": 0,
        "median_return": null,
        "positive_rate": null,
        "directional_follow_through": null,
        "median_excess_return": null,
        "regime_survival": null,
        "best_return": null,
        "worst_return": null,
        "sufficient": false
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        "horizon": "Intermediate",
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        "sufficient": false
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      {
        "horizon": "Extended",
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      {
        "horizon": "Full cycle",
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        "sufficient": false
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        "end": "2025-08-08",
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        "active": false
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      {
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        "label": "Deceleration",
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        "end": "2025-10-03",
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        "active": false
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        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2025-10-24",
        "tenure": "New",
        "return": -0.075,
        "active": false
      },
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2026-01-02",
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        "return": -0.008746,
        "active": false
      },
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-01-30",
        "tenure": "New",
        "return": 0.204242,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
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        "active": false
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        "label": "Rotation Up",
        "color": "teal",
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        "end": "2026-03-06",
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        "return": -0.139203,
        "active": false
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        "regime": "balance",
        "label": "Balance",
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        "end": "2026-04-03",
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        "active": false
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        "regime": "upward_expansion",
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        "active": false
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        "end": "2026-08-07",
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        "active": true
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        "regime": "balance",
        "modifier": "Upper balance after advance",
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        "energy": 8.437564,
        "activity_lines": [
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      },
      {
        "date": "2026-03-20",
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        "typical_volume": 3840.3,
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        "energy": 10.325829,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-03-27",
        "close": 37.203697,
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        "fair_value": 26.429293,
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        "modifier": "Upper balance after advance",
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        "energy": 18.388787,
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      },
      {
        "date": "2026-04-03",
        "close": 37.220615,
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        "typical_volume": 5530.6,
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        "fair_value": 26.517028,
        "relative_strength": 16.019131,
        "stage": 2,
        "regime": "balance",
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        "energy": 36.821511,
        "activity_lines": [
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      },
      {
        "date": "2026-04-10",
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        "fair_value": 26.595843,
        "relative_strength": 11.751352,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-04-17",
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 5643.05,
        "trend": 32.226849,
        "fair_value": 26.808722,
        "relative_strength": 7.624375,
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        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "volume": 580,
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        "trend": 32.27704,
        "fair_value": 26.875393,
        "relative_strength": 9.983385,
        "stage": 2,
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        "energy": 27.006825,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 5590.05,
        "trend": 32.304699,
        "fair_value": 26.935791,
        "relative_strength": 7.766304,
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        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
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        "energy": 19.291603,
        "activity_lines": [
          35.128611,
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      },
      {
        "date": "2026-05-22",
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        "fair_value": 26.995259,
        "relative_strength": 7.064079,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.531982,
        "energy": 17.977655,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-29",
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        "fair_value": 27.053819,
        "relative_strength": 6.814527,
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        "modifier": "Recompressing",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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        "volume": 182,
        "typical_volume": 5066.65,
        "trend": 32.771089,
        "fair_value": 27.110836,
        "relative_strength": 6.720934,
        "stage": 2,
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        "gate": "up",
        "direction": 30.870125,
        "energy": 14.631688,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 0,
        "typical_volume": 5048.4,
        "trend": 32.827439,
        "fair_value": 27.166995,
        "relative_strength": 5.947911,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "fair_value": 27.222316,
        "relative_strength": 5.096459,
        "stage": 2,
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        "energy": 13.676725,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 17124,
        "typical_volume": 4970.95,
        "trend": 33.023546,
        "fair_value": 27.27104,
        "relative_strength": 4.323316,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 12.114509,
        "energy": 10.665392,
        "activity_lines": [
          34.325778,
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          34.656506,
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      },
      {
        "date": "2026-07-03",
        "close": 34.562668,
        "volume": 1249,
        "typical_volume": 4849.2,
        "trend": 33.180266,
        "fair_value": 27.324654,
        "relative_strength": 7.675093,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
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        "direction": 15.707557,
        "energy": 12.536292,
        "activity_lines": [
          34.366223,
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        ]
      },
      {
        "date": "2026-07-10",
        "close": 34.562668,
        "volume": 52,
        "typical_volume": 4136.25,
        "trend": 33.260852,
        "fair_value": 27.377487,
        "relative_strength": 7.800685,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 15.421776,
        "energy": 17.079623,
        "activity_lines": [
          34.413601,
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          34.697718,
          34.243826
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      },
      {
        "date": "2026-07-17",
        "close": 36.0,
        "volume": 520,
        "typical_volume": 4061.65,
        "trend": 33.389349,
        "fair_value": 27.439969,
        "relative_strength": 12.887784,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 55.86504,
        "energy": 39.99471,
        "activity_lines": [
          34.941245,
          34.743007,
          34.854702,
          34.420546
        ]
      },
      {
        "date": "2026-07-24",
        "close": 36.0,
        "volume": 643,
        "typical_volume": 3808.9,
        "trend": 33.630637,
        "fair_value": 27.501552,
        "relative_strength": 11.825411,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 54.756802,
        "energy": 53.071834,
        "activity_lines": [
          35.374223,
          34.985455,
          34.997276,
          34.588975
        ]
      },
      {
        "date": "2026-07-31",
        "close": 32.0,
        "volume": 1382,
        "typical_volume": 3489.6,
        "trend": 33.738591,
        "fair_value": 27.533683,
        "relative_strength": 1.31545,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "up",
        "direction": -11.547462,
        "energy": 9.12382,
        "activity_lines": [
          34.3792,
          34.476388,
          34.728457,
          34.483772
        ]
      },
      {
        "date": "2026-08-07",
        "close": 31.959999,
        "volume": 3666,
        "typical_volume": 3447.25,
        "trend": 33.873409,
        "fair_value": 27.565076,
        "relative_strength": -1.192439,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -33.569451,
        "energy": 34.44789,
        "activity_lines": [
          33.490844,
          34.008534,
          34.444435,
          34.369025
        ]
      }
    ],
    "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."
    }
  }
}