{
  "ticker": {
    "uuid": "112b94d0-dfca-40dd-87da-f2ca7d9d399f",
    "symbol": "9946",
    "name": "San Far Property Limited",
    "exchange": "TAI",
    "country": "TW",
    "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": "2026-08-14",
    "benchmark": "^TWII",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 40.826,
    "architecture_energy": 24.259,
    "architecture_maturity": 49.167,
    "architecture_confidence": 77.086,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 45.08,
        "rotation_up": 28.68,
        "upward_expansion": 56.84,
        "deceleration": 87.62,
        "rotation_down": 30.2,
        "downward_expansion": 18.17
      },
      "activity_lines": [
        18.336667,
        18.667273,
        18.237857,
        17.951828
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 19.049999,
    "trend_reference": 17.643333,
    "distance_from_trend": 0.079728,
    "trend_direction": "Improving",
    "fair_value": 21.770848,
    "distance_from_fair_value": -0.124977,
    "fair_value_direction": "Improving",
    "relative_strength": -24.895582,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.161585,
    "excess_performance": -0.279787,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.079728,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.015249,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.124977,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.086861,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.248956,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.138893,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.161585,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.681644,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1833684,
      "relative_activity": 0.59079,
      "balance": 2.681644,
      "dry_up": 0.46427,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.064607,
      "annualized_volatility": 0.31615,
      "from_high_reference": -0.128146,
      "from_low_reference": 0.229032
    },
    "levels": {
      "trend_reference": 17.643333,
      "fair_value_reference": 21.770848,
      "structural_low": 15.5,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": -0.035635,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.008701,
        "regime_survival": 0.666667,
        "best_return": 0.06338,
        "worst_return": -0.218841,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": -0.082032,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.056497,
        "regime_survival": 0.0,
        "best_return": 0.21349,
        "worst_return": -0.377554,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.043918,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.037187,
        "regime_survival": 0.0,
        "best_return": 0.556037,
        "worst_return": -0.468202,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.774095,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.578453,
        "regime_survival": 0.0,
        "best_return": 2.071989,
        "worst_return": -0.523799,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-14",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.090361,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-06-06",
        "tenure": "Developing",
        "return": 0.317143,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": -0.071926,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-07-18",
        "end": "2025-09-05",
        "tenure": "Developing",
        "return": 0.063991,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-10-03",
        "tenure": "New",
        "return": -0.060052,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-10",
        "end": "2025-12-26",
        "tenure": "Developing",
        "return": 0.046575,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2026-01-16",
        "tenure": "New",
        "return": -0.077121,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-03-20",
        "tenure": "Developing",
        "return": 0.108108,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "Developing",
        "return": -0.089636,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-06-12",
        "tenure": "Developing",
        "return": 0.128931,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": 0.005571,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "return": 0.061281,
        "active": true
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    ],
    "chart_path": [
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        "date": "2026-06-19",
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      },
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 3210854.3,
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        "stage": 1,
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        "direction": 46.205455,
        "energy": 31.596896,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
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        "volume": 1157416,
        "typical_volume": 3138167.9,
        "trend": 17.693333,
        "fair_value": 21.696975,
        "relative_strength": -26.401988,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 37.558059,
        "energy": 22.134886,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 17.950001,
        "volume": 981182,
        "typical_volume": 3081254.75,
        "trend": 17.643333,
        "fair_value": 21.730097,
        "relative_strength": -27.69121,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 29.872159,
        "energy": 26.926884,
        "activity_lines": [
          18.106667,
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        ]
      },
      {
        "date": "2026-08-14",
        "close": 19.049999,
        "volume": 1833684,
        "typical_volume": 3103783.65,
        "trend": 17.643333,
        "fair_value": 21.770848,
        "relative_strength": -24.895582,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 40.82561,
        "energy": 24.258857,
        "activity_lines": [
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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."
    }
  }
}