{ "ticker": { "uuid": "ef4e28c4-4f20-4dfc-85a5-f1417751fc96", "symbol": "MLPD", "name": "Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)", "exchange": "MIL", "country": "IT", "assetType": "etf" }, "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": "FTSEMIB.MI", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 91.212, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Re-accelerating", "architecture_gate": "up", "architecture_direction": 63.853, "architecture_energy": 73.547, "architecture_maturity": 26.298, "architecture_confidence": 69.462, "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": 12.86, "rotation_up": 76.09, "upward_expansion": 92.15, "deceleration": 41.93, "rotation_down": 8.95, "downward_expansion": 16.48 }, "activity_lines": [ 49.912667, 48.985525, 48.213785, 47.819883 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 49.529999, "trend_reference": 47.004589, "distance_from_trend": 0.053727, "trend_direction": "Improving", "fair_value": 41.714729, "distance_from_fair_value": 0.18735, "fair_value_direction": "Improving", "relative_strength": -4.444732, "relative_strength_direction": "Improving", "price_momentum": 0.127096, "excess_performance": -0.043795, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.053727, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.051344, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.18735, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.032402, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.044447, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.005851, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.127096, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.719853, "read": "Demand-led" } ], "volume": { "latest": 29393, "relative_activity": 1.316313, "balance": 1.719853, "dry_up": 1.575036, "accumulation_observations": 4, "distribution_observations": 3 }, "risk": { "range_context": 0.034125, "annualized_volatility": 0.204595, "from_high_reference": -0.034315, "from_low_reference": 0.277596 }, "levels": { "trend_reference": 47.004589, "fair_value_reference": 41.714729, "structural_low": 43.440728, 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"volume": 32416, "typical_volume": 20715.1, "trend": 46.419992, "fair_value": 41.486463, "relative_strength": 1.315469, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 77.822057, "energy": 71.584977, "activity_lines": [ 49.128334, 48.2576, 47.763423, 47.377888 ] }, { "date": "2026-07-31", "close": 50.490002, "volume": 44171, "typical_volume": 22136.65, "trend": 46.749088, "fair_value": 41.604579, "relative_strength": 0.130068, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 72.865574, "energy": 76.035961, "activity_lines": [ 49.799334, 48.722664, 48.040307, 47.64047 ] }, { "date": "2026-08-07", "close": 49.529999, "volume": 29393, "typical_volume": 22329.8, "trend": 47.004589, "fair_value": 41.714729, "relative_strength": -4.444732, "stage": 2, "regime": "upward_expansion", "modifier": "Re-accelerating", "gate": "up", "direction": 63.853349, "energy": 73.546794, "activity_lines": [ 49.912667, 48.985525, 48.213785, 47.819883 ] } ], "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." } } }