{
  "ticker": {
    "uuid": "ef034964-2a3d-4bff-8199-806a0c19e9b8",
    "symbol": "QLT",
    "name": "Quilter 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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 76.2,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 58.634,
    "architecture_energy": 33.789,
    "architecture_maturity": 33.163,
    "architecture_confidence": 70.72,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 23.61,
        "rotation_up": 47.5,
        "upward_expansion": 76.91,
        "deceleration": 62.98,
        "rotation_down": 23.08,
        "downward_expansion": 3.58
      },
      "activity_lines": [
        197.653333,
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        190.947061
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 200.0,
    "trend_reference": 188.814841,
    "distance_from_trend": 0.059239,
    "trend_direction": "Improving",
    "fair_value": 144.832389,
    "distance_from_fair_value": 0.380907,
    "fair_value_direction": "Improving",
    "relative_strength": 1.093097,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.058446,
    "excess_performance": 0.00721,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.059239,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.024938,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.380907,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.010269,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.010931,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.004279,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.058446,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.13751,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 22682570,
      "relative_activity": 1.435896,
      "balance": 1.13751,
      "dry_up": 1.18623,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.051112,
      "annualized_volatility": 0.244864,
      "from_high_reference": -0.043062,
      "from_low_reference": 0.326566
    },
    "levels": {
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      "fair_value_reference": 144.832389,
      "structural_low": 163.262262,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 24,
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        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
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        "worst_return": -0.131295,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.05815,
        "sufficient": true
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        "horizon": "Extended",
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      },
      {
        "date": "2026-04-17",
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      },
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      },
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        "date": "2026-05-01",
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      },
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        "date": "2026-05-08",
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      },
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      },
      {
        "date": "2026-05-29",
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      },
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        "date": "2026-06-05",
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        "relative_strength": 1.676185,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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      },
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      },
      {
        "date": "2026-06-26",
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        "direction": 54.921234,
        "energy": 37.799115,
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 5.036729,
        "stage": 2,
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        "modifier": "Early expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 15629985.35,
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        "fair_value": 141.756004,
        "relative_strength": 4.577355,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 62.947955,
        "energy": 52.418956,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 204.2,
        "volume": 22903765,
        "typical_volume": 16223772.0,
        "trend": 187.630585,
        "fair_value": 142.55316,
        "relative_strength": 6.102378,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 70.863928,
        "energy": 66.343595,
        "activity_lines": [
          200.1,
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          191.509227,
          189.40078
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      },
      {
        "date": "2026-07-24",
        "close": 194.8,
        "volume": 14869378,
        "typical_volume": 16189755.65,
        "trend": 188.051989,
        "fair_value": 143.296142,
        "relative_strength": -0.03359,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.846802,
        "energy": 58.31423,
        "activity_lines": [
          199.16,
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      },
      {
        "date": "2026-07-31",
        "close": 193.2,
        "volume": 14498851,
        "typical_volume": 15930907.7,
        "trend": 188.350075,
        "fair_value": 144.072718,
        "relative_strength": -2.003771,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 54.368539,
        "energy": 34.601945,
        "activity_lines": [
          197.306667,
          196.523636,
          192.780892,
          190.195453
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      },
      {
        "date": "2026-08-07",
        "close": 200.0,
        "volume": 22682570,
        "typical_volume": 15796801.55,
        "trend": 188.814841,
        "fair_value": 144.832389,
        "relative_strength": 1.093097,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 58.634441,
        "energy": 33.789401,
        "activity_lines": [
          197.653333,
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          190.947061
        ]
      }
    ],
    "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."
    }
  }
}