{
  "ticker": {
    "uuid": "367cce8a-465b-409f-bbaa-0ad7ef1644a5",
    "symbol": "1269",
    "name": "Kanpai Co., Ltd",
    "exchange": "TWO",
    "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": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "down",
    "architecture_direction": -60.37,
    "architecture_energy": 53.027,
    "architecture_maturity": 28.12,
    "architecture_confidence": 92.795,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 29.45,
        "rotation_up": 12.25,
        "upward_expansion": 11.02,
        "deceleration": 38.65,
        "rotation_down": 67.02,
        "downward_expansion": 89.02
      },
      "activity_lines": [
        64.900001,
        66.798182,
        68.725238,
        69.124946
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -1.0
    },
    "latest_close": 63.900002,
    "trend_reference": 69.193333,
    "distance_from_trend": -0.076501,
    "trend_direction": "Improving",
    "fair_value": 83.935184,
    "distance_from_fair_value": -0.238698,
    "fair_value_direction": "Improving",
    "relative_strength": -29.430913,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.077922,
    "excess_performance": -0.519294,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.076501,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.040866,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.238698,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.006972,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.294309,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.013605,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.077922,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.575255,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 28644,
      "relative_activity": 0.502531,
      "balance": 0.575255,
      "dry_up": 1.051808,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.10762,
      "annualized_volatility": 0.405616,
      "from_high_reference": -0.251756,
      "from_low_reference": 0.257874
    },
    "levels": {
      "trend_reference": 69.193333,
      "fair_value_reference": 83.935184,
      "structural_low": 58.5,
      "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": 13,
        "median_return": 0.009009,
        "positive_rate": 0.538462,
        "directional_follow_through": 0.538462,
        "median_excess_return": -0.030299,
        "regime_survival": 0.538462,
        "best_return": 0.13782,
        "worst_return": -0.132824,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.061905,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.093037,
        "regime_survival": 0.0,
        "best_return": 0.150278,
        "worst_return": -0.160216,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.180672,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.169,
        "regime_survival": 0.25,
        "best_return": 0.338095,
        "worst_return": -0.12633,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.023948,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.67548,
        "regime_survival": 0.333333,
        "best_return": 0.42534,
        "worst_return": -0.39884,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-09-29",
        "end": "2023-11-24",
        "tenure": "Developing",
        "return": -0.021661,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-12-01",
        "end": "2023-12-29",
        "tenure": "Developing",
        "return": -0.02963,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-01-05",
        "end": "2024-01-26",
        "tenure": "New",
        "return": -0.022988,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-02-02",
        "end": "2024-07-12",
        "tenure": "Established",
        "return": -0.213548,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-07-19",
        "end": "2024-07-26",
        "tenure": "New",
        "return": -0.005236,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-08-02",
        "end": "2025-06-06",
        "tenure": "Extended",
        "return": -0.221398,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-07-04",
        "tenure": "New",
        "return": -0.096542,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-07-11",
        "end": "2025-07-25",
        "tenure": "New",
        "return": 0.114729,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-08-01",
        "end": "2025-09-05",
        "tenure": "Developing",
        "return": -0.109601,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-09-12",
        "end": "2025-12-12",
        "tenure": "Established",
        "return": 0.040351,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-19",
        "end": "2026-01-09",
        "tenure": "New",
        "return": 0.080672,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-16",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": 0.082813,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-27",
        "end": "2026-05-29",
        "tenure": "Established",
        "return": -0.002861,
        "active": false
      },
      {
        "regime": "balance",
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        "start": "2026-06-05",
        "end": "2026-08-14",
        "tenure": "Developing",
        "return": -0.041979,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-11",
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        "typical_volume": 42933.85,
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      },
      {
        "date": "2026-05-01",
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        "fair_value": 89.312232,
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        "regime": "upward_expansion",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 51208.85,
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 51199.4,
        "trend": 65.593334,
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        "energy": 19.253912,
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        "date": "2026-05-29",
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          69.02
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      },
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        "date": "2026-06-05",
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        "date": "2026-06-12",
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      },
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        "date": "2026-06-19",
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        "fair_value": 86.987513,
        "relative_strength": -31.658162,
        "stage": 1,
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      },
      {
        "date": "2026-07-03",
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        "stage": 1,
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      },
      {
        "date": "2026-07-10",
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        "relative_strength": -28.001056,
        "stage": 1,
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      },
      {
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        "typical_volume": 52086.8,
        "trend": 68.79,
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        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "energy": 3.399044,
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      },
      {
        "date": "2026-07-24",
        "close": 66.400002,
        "volume": 49883,
        "typical_volume": 52859.45,
        "trend": 69.02,
        "fair_value": 85.068034,
        "relative_strength": -26.133193,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -14.637856,
        "energy": 18.824939,
        "activity_lines": [
          68.04,
          69.125454,
          70.35,
          69.967957
        ]
      },
      {
        "date": "2026-07-31",
        "close": 66.0,
        "volume": 33694,
        "typical_volume": 52508.75,
        "trend": 69.14,
        "fair_value": 84.656888,
        "relative_strength": -24.625886,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -16.375564,
        "energy": 28.787972,
        "activity_lines": [
          66.766667,
          68.483636,
          69.943333,
          69.773118
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      },
      {
        "date": "2026-08-07",
        "close": 64.400002,
        "volume": 127589,
        "typical_volume": 56964.25,
        "trend": 69.206667,
        "fair_value": 84.310069,
        "relative_strength": -27.315696,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -31.950137,
        "energy": 41.458052,
        "activity_lines": [
          65.693334,
          67.638182,
          69.365714,
          69.467312
        ]
      },
      {
        "date": "2026-08-14",
        "close": 63.900002,
        "volume": 28644,
        "typical_volume": 56999.45,
        "trend": 69.193333,
        "fair_value": 83.935184,
        "relative_strength": -29.430913,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -60.369896,
        "energy": 53.027415,
        "activity_lines": [
          64.900001,
          66.798182,
          68.725238,
          69.124946
        ]
      }
    ],
    "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."
    }
  }
}