{
  "ticker": {
    "uuid": "27b0a2bc-aef8-499d-a23b-bee93aa4a5a2",
    "symbol": "603269",
    "name": "Jiangsu Seagull Cooling Tower 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 7.295,
    "architecture_energy": 22.392,
    "architecture_maturity": 73.825,
    "architecture_confidence": 70.173,
    "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": 50.59,
        "rotation_up": 21.29,
        "upward_expansion": 45.87,
        "deceleration": 82.25,
        "rotation_down": 46.06,
        "downward_expansion": 35.21
      },
      "activity_lines": [
        12.714667,
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        14.058477,
        13.287817
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.166667
    },
    "latest_close": 14.12,
    "trend_reference": 12.169126,
    "distance_from_trend": 0.160313,
    "trend_direction": "Improving",
    "fair_value": 6.89936,
    "distance_from_fair_value": 1.046567,
    "fair_value_direction": "Improving",
    "relative_strength": 32.260987,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.6535,
    "excess_performance": 0.696703,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.160313,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.185985,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 1.046567,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.067378,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.32261,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.054188,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.6535,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.588994,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 142345274,
      "relative_activity": 0.923237,
      "balance": 2.588994,
      "dry_up": 0.783051,
      "accumulation_observations": 5,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.191827,
      "annualized_volatility": 0.829155,
      "from_high_reference": -0.267255,
      "from_low_reference": 0.987158
    },
    "levels": {
      "trend_reference": 12.169126,
      "fair_value_reference": 6.89936,
      "structural_low": 8.433516,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 14,
        "median_return": 0.036754,
        "positive_rate": 0.785714,
        "directional_follow_through": 0.785714,
        "median_excess_return": 0.075511,
        "regime_survival": 0.5,
        "best_return": 0.498589,
        "worst_return": -0.096026,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": 0.130624,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.155868,
        "regime_survival": 0.125,
        "best_return": 0.878049,
        "worst_return": -0.158205,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.473892,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.580265,
        "regime_survival": 0.0,
        "best_return": 0.891892,
        "worst_return": -0.009708,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.238409,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.288817,
        "regime_survival": 0.0,
        "best_return": 0.461689,
        "worst_return": 0.214071,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-05-17",
        "tenure": "Developing",
        "return": 0.236755,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-05-31",
        "tenure": "New",
        "return": -0.001377,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "return": 0.012371,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "New",
        "return": -0.089404,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2024-10-25",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "Developing",
        "return": 0.101803,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "tenure": "Established",
        "return": 0.047753,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "New",
        "return": -0.013295,
        "active": false
      },
      {
        "regime": "deceleration",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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      {
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      {
        "regime": "upward_expansion",
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      {
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      },
      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 163401494.05,
        "trend": 11.958012,
        "fair_value": 6.801351,
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        "stage": 3,
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 153705514.05,
        "trend": 12.006652,
        "fair_value": 6.839709,
        "relative_strength": 8.589858,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": 3.07499,
        "energy": 20.052339,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 14.12,
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        "typical_volume": 154180660.2,
        "trend": 12.169126,
        "fair_value": 6.89936,
        "relative_strength": 32.260987,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": 7.294578,
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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."
    }
  }
}