{ "ticker": { "uuid": "e9c56d89-dc73-4b94-af06-cebf1e16215b", "symbol": "SMWH", "name": "WH Smith PLC", "exchange": "LSE", "country": "GB", "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": "^FTSE", "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": -46.511, "architecture_energy": 40.479, "architecture_maturity": 90.18, "architecture_confidence": 92.395, "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": 25.57, "rotation_up": 27.78, "upward_expansion": 19.67, "deceleration": 43.38, "rotation_down": 35.84, "downward_expansion": 67.34 }, "activity_lines": [ 433.373333, 425.116364, 451.9, 486.424612 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 452.4, "trend_reference": 536.954823, "distance_from_trend": -0.157471, "trend_direction": "Weakening", "fair_value": 1005.977432, "distance_from_fair_value": -0.550288, "fair_value_direction": "Weakening", "relative_strength": -30.808601, "relative_strength_direction": "Improving", "price_momentum": -0.338596, "excess_performance": -0.389832, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.157471, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.120528, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.550288, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.013652, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.308086, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.0673, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.338596, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.080241, "read": "Demand-led" } ], "volume": { "latest": 3512187, "relative_activity": 1.459697, "balance": 1.080241, "dry_up": 1.044251, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.080572, "annualized_volatility": 0.484799, "from_high_reference": -0.596036, "from_low_reference": 0.162089 }, "levels": { "trend_reference": 536.954823, "fair_value_reference": 1005.977432, 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492.290608 ] }, { "date": "2026-08-07", "close": 452.4, "volume": 3512187, "typical_volume": 2406106.95, "trend": 536.954823, "fair_value": 1005.977432, "relative_strength": -30.808601, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -46.510986, "energy": 40.479236, "activity_lines": [ 433.373333, 425.116364, 451.9, 486.424612 ] } ], "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." } } }