{ "ticker": { "uuid": "0d8a0b8a-3e41-45d2-ad9b-d60886ee4286", "symbol": "002065", "name": "DHC Software Co.,Ltd.", "exchange": "SHZ", "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": "399001.SZ", "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": -48.112, "architecture_energy": 39.77, "architecture_maturity": 95.919, "architecture_confidence": 66.464, "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": 24.33, "rotation_up": 25.5, "upward_expansion": 12.55, "deceleration": 66.81, "rotation_down": 43.66, "downward_expansion": 71.55 }, "activity_lines": [ 7.081333, 7.047648, 7.337524, 7.673526 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.5 }, "latest_close": 7.35, "trend_reference": 8.223865, "distance_from_trend": -0.10626, "trend_direction": "Weakening", "fair_value": 7.605345, "distance_from_fair_value": -0.033574, "fair_value_direction": "Weakening", "relative_strength": -21.875471, "relative_strength_direction": "Improving", "price_momentum": -0.242268, "excess_performance": -0.249668, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.10626, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.101806, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.033574, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.191665, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.218755, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.039322, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.242268, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.789992, "read": "Supply-led" } ], "volume": { "latest": 322849732, "relative_activity": 1.963114, "balance": 0.789992, "dry_up": 1.600527, "accumulation_observations": 3, "distribution_observations": 5 }, "risk": { "range_context": 0.070944, "annualized_volatility": 0.315143, "from_high_reference": -0.404858, "from_low_reference": 0.136012 }, "levels": { "trend_reference": 8.223865, "fair_value_reference": 7.605345, "structural_low": 6.47, "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": 26, "median_return": -0.027209, "positive_rate": 0.423077, "directional_follow_through": 0.576923, "median_excess_return": -0.020318, "regime_survival": 0.846154, "best_return": 0.274468, "worst_return": -0.17862, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.028306, "positive_rate": 0.25, "directional_follow_through": 0.75, "median_excess_return": -0.08693, "regime_survival": 0.625, "best_return": 0.277308, "worst_return": -0.212894, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.045613, "positive_rate": 0.4, "directional_follow_through": 0.6, "median_excess_return": 0.013189, "regime_survival": 0.4, "best_return": 1.385106, "worst_return": -0.219347, "sufficient": true }, { "horizon": "Full cycle", 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contraction", "gate": "down", "direction": -64.520034, "energy": 61.47419, "activity_lines": [ 7.082315, 7.242626, 7.651113, 8.038243 ] }, { "date": "2026-07-17", "close": 6.73, "volume": 235217927, "typical_volume": 157715014.25, "trend": 8.431865, "fair_value": 7.597838, "relative_strength": -27.549205, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -75.875758, "energy": 64.229022, "activity_lines": [ 6.969129, 7.100154, 7.530371, 7.921564 ] }, { "date": "2026-07-24", "close": 6.63, "volume": 252233135, "typical_volume": 155570552.2, "trend": 8.348865, "fair_value": 7.597415, "relative_strength": -28.189688, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -74.037269, "energy": 62.991297, "activity_lines": [ 6.837286, 6.977137, 7.414104, 7.805315 ] }, { "date": "2026-07-31", "close": 7.24, "volume": 242576730, "typical_volume": 156322610.45, "trend": 8.283865, "fair_value": 7.600271, "relative_strength": -19.689834, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -61.128115, "energy": 49.863953, "activity_lines": [ 6.950638, 6.995029, 7.36679, 7.733775 ] }, { "date": "2026-08-07", "close": 7.35, "volume": 322849732, "typical_volume": 164457947.4, "trend": 8.223865, "fair_value": 7.605345, "relative_strength": -21.875471, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.112364, "energy": 39.769714, "activity_lines": [ 7.081333, 7.047648, 7.337524, 7.673526 ] } ], "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." } } }