{
  "ticker": {
    "uuid": "e4f1f2cf-bb54-4600-aab0-caa84c8879e6",
    "symbol": "HLAN",
    "name": "Hilan 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": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -52.394,
    "architecture_energy": 62.083,
    "architecture_maturity": 100.0,
    "architecture_confidence": 57.94,
    "architecture_tenure": "Established",
    "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": 25.9,
        "rotation_up": 27.9,
        "upward_expansion": 22.5,
        "deceleration": 66.66,
        "rotation_down": 43.67,
        "downward_expansion": 65.5
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 222.2,
    "trend_reference": 14465.914661,
    "distance_from_trend": -0.98464,
    "trend_direction": "Weakening",
    "fair_value": 20755.426573,
    "distance_from_fair_value": -0.989294,
    "fair_value_direction": "Weakening",
    "relative_strength": -98.999453,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.990409,
    "excess_performance": -1.019309,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.98464,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.375488,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.989294,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.013186,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.989995,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.661401,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.990409,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.466159,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 406410,
      "relative_activity": 1.59821,
      "balance": 1.466159,
      "dry_up": 1.084988,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 9.894793,
      "annualized_volatility": 6.368037,
      "from_high_reference": -0.991995,
      "from_low_reference": 0.169474
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    "levels": {
      "trend_reference": 14465.914661,
      "fair_value_reference": 20755.426573,
      "structural_low": 190.0,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 19,
        "median_return": 0.0,
        "positive_rate": 0.473684,
        "directional_follow_through": 0.473684,
        "median_excess_return": -0.006924,
        "regime_survival": 0.842105,
        "best_return": 0.156234,
        "worst_return": -0.989951,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
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        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.009463,
        "regime_survival": 0.4,
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        "worst_return": -0.118805,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.011114,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.013139,
        "regime_survival": 0.333333,
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        "worst_return": -0.137833,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
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        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.09459,
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        "worst_return": -0.12825,
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    ],
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        "tenure": "Developing",
        "return": 0.087719,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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      },
      {
        "regime": "deceleration",
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      },
      {
        "regime": "upward_expansion",
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      },
      {
        "regime": "deceleration",
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        "tenure": "Developing",
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      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2024-07-12",
        "tenure": "New",
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        "active": false
      },
      {
        "regime": "balance",
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        "tenure": "Developing",
        "return": -0.046116,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "start": "2024-08-30",
        "end": "2024-11-01",
        "tenure": "Developing",
        "return": 0.04391,
        "active": false
      },
      {
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      {
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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      },
      {
        "date": "2026-08-07",
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        "trend": 14465.914661,
        "fair_value": 20755.426573,
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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."
    }
  }
}