{
  "ticker": {
    "uuid": "07bc7954-fe60-4b84-b4b4-2e1ac5a7449a",
    "symbol": "688272",
    "name": "Beijing Fjr Optoelectronic Technology Co., Ltd.",
    "exchange": "SHH",
    "country": "CN",
    "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": "000001.SS",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 82.651,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Structural failure",
    "architecture_gate": "down",
    "architecture_direction": -62.083,
    "architecture_energy": 74.704,
    "architecture_maturity": 19.198,
    "architecture_confidence": 83.93,
    "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": 20.53,
        "rotation_up": 11.17,
        "upward_expansion": 19.46,
        "deceleration": 34.22,
        "rotation_down": 73.98,
        "downward_expansion": 90.46
      },
      "activity_lines": [
        27.461333,
        31.131273,
        34.665667,
        35.882538
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 29.190001,
    "trend_reference": 36.036,
    "distance_from_trend": -0.189977,
    "trend_direction": "Improving",
    "fair_value": 23.251987,
    "distance_from_fair_value": 0.255377,
    "fair_value_direction": "Weakening",
    "relative_strength": -8.114025,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.020798,
    "excess_performance": 0.022406,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.189977,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.056227,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.255377,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.776234,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.08114,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.475856,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.020798,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.208623,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 8338211,
      "relative_activity": 0.661891,
      "balance": 0.208623,
      "dry_up": 0.813536,
      "accumulation_observations": 0,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.215827,
      "annualized_volatility": 0.900736,
      "from_high_reference": -0.483363,
      "from_low_reference": 0.325613
    },
    "levels": {
      "trend_reference": 36.036,
      "fair_value_reference": 23.251987,
      "structural_low": 22.02,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 3,
        "median_return": -0.064743,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.052107,
        "regime_survival": 0.333333,
        "best_return": -0.015801,
        "worst_return": -0.313869,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 1,
        "median_return": 0.247713,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.106302,
        "regime_survival": 0.0,
        "best_return": 0.247713,
        "worst_return": 0.247713,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 1,
        "median_return": 0.225897,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.10077,
        "regime_survival": 0.0,
        "best_return": 0.225897,
        "worst_return": 0.225897,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.863476,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.620383,
        "regime_survival": 0.0,
        "best_return": 0.863476,
        "worst_return": 0.863476,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-10-25",
        "end": "2024-12-06",
        "tenure": "Developing",
        "return": 0.076706,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-12-13",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": -0.190976,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-02-07",
        "tenure": "New",
        "return": 0.071215,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-14",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": 0.016199,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-11",
        "end": "2025-07-18",
        "tenure": "Established",
        "return": 0.148727,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-25",
        "end": "2025-09-19",
        "tenure": "Developing",
        "return": -0.074773,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-09-26",
        "end": "2025-12-19",
        "tenure": "Established",
        "return": 0.125871,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-26",
        "end": "2026-02-06",
        "tenure": "Developing",
        "return": 0.023327,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-02-13",
        "end": "2026-02-27",
        "tenure": "New",
        "return": 0.004109,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-03-06",
        "end": "2026-05-22",
        "tenure": "Developing",
        "return": 0.046823,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-05-29",
        "end": "2026-06-19",
        "tenure": "New",
        "return": 0.047706,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-06-26",
        "end": "2026-07-03",
        "tenure": "New",
        "return": 0.264396,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-10",
        "end": "2026-07-24",
        "tenure": "New",
        "return": -0.290467,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.160175,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-07-28",
        "close": 17.950001,
        "volume": 1090760,
        "typical_volume": 2606957.55,
        "trend": 20.385333,
        "fair_value": 29.273718,
        "relative_strength": -19.623782,
        "stage": 4,
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        "modifier": "Established contraction",
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        "direction": -70.696741,
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      },
      {
        "date": "2023-08-04",
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      },
      {
        "date": "2023-08-11",
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      },
      {
        "date": "2023-08-18",
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      },
      {
        "date": "2023-08-25",
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      },
      {
        "date": "2023-09-01",
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      },
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      },
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      },
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      },
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        "date": "2023-09-29",
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      },
      {
        "date": "2026-05-01",
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
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        "date": "2026-05-29",
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      {
        "date": "2026-06-05",
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      },
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        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "stage": 2,
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        "gate": "mixed",
        "direction": -17.937266,
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 22.932756,
        "relative_strength": 43.56607,
        "stage": 2,
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      },
      {
        "date": "2026-07-10",
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        "trend": 36.433667,
        "fair_value": 23.042436,
        "relative_strength": 10.627201,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
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      },
      {
        "date": "2026-07-17",
        "close": 26.709999,
        "volume": 12823940,
        "typical_volume": 13929030.5,
        "trend": 36.368333,
        "fair_value": 23.092756,
        "relative_strength": -12.298936,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -35.780904,
        "energy": 19.079386,
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          35.026667,
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      },
      {
        "date": "2026-07-24",
        "close": 25.379999,
        "volume": 11193130,
        "typical_volume": 13241754.15,
        "trend": 36.299,
        "fair_value": 23.136602,
        "relative_strength": -17.63737,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -48.793547,
        "energy": 48.542101,
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          31.438666,
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          37.050322
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      },
      {
        "date": "2026-07-31",
        "close": 25.16,
        "volume": 8638951,
        "typical_volume": 12763858.6,
        "trend": 36.151667,
        "fair_value": 23.180897,
        "relative_strength": -18.5805,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -46.905671,
        "energy": 68.280287,
        "activity_lines": [
          28.384,
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          36.331677
        ]
      },
      {
        "date": "2026-08-07",
        "close": 29.190001,
        "volume": 8338211,
        "typical_volume": 12597553.6,
        "trend": 36.036,
        "fair_value": 23.251987,
        "relative_strength": -8.114025,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -62.0834,
        "energy": 74.704378,
        "activity_lines": [
          27.461333,
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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."
    }
  }
}