{
  "ticker": {
    "uuid": "4a310ad3-6d42-4474-98f8-8a96dea36d3c",
    "symbol": "4721",
    "name": "Mechema Chemicals International Corp.",
    "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": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 71.683,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -22.654,
    "architecture_energy": 45.33,
    "architecture_maturity": 6.519,
    "architecture_confidence": 71.555,
    "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": 34.58,
        "rotation_up": 15.38,
        "upward_expansion": 24.18,
        "deceleration": 50.55,
        "rotation_down": 65.0,
        "downward_expansion": 53.85
      },
      "activity_lines": [
        72.153334,
        76.021765,
        80.709999,
        79.636385
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.833333
    },
    "latest_close": 74.300003,
    "trend_reference": 76.715103,
    "distance_from_trend": -0.031481,
    "trend_direction": "Improving",
    "fair_value": 70.210826,
    "distance_from_fair_value": 0.058241,
    "fair_value_direction": "Weakening",
    "relative_strength": -27.794541,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.207205,
    "excess_performance": -0.234167,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.031481,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.066603,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.058241,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.178383,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.277945,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.117338,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.207205,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.778983,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1840581,
      "relative_activity": 0.20203,
      "balance": 1.778983,
      "dry_up": 0.231926,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.142548,
      "annualized_volatility": 0.525512,
      "from_high_reference": -0.310479,
      "from_low_reference": 0.277743
    },
    "levels": {
      "trend_reference": 76.715103,
      "fair_value_reference": 70.210826,
      "structural_low": 58.149427,
      "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": 5,
        "median_return": -0.009972,
        "positive_rate": 0.4,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.051818,
        "regime_survival": 0.4,
        "best_return": 0.046316,
        "worst_return": -0.041985,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.06743,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.211813,
        "regime_survival": 0.0,
        "best_return": -0.042773,
        "worst_return": -0.130992,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.096718,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.316006,
        "regime_survival": 0.0,
        "best_return": 0.30531,
        "worst_return": -0.129616,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.163054,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.47734,
        "regime_survival": 0.0,
        "best_return": -0.163054,
        "worst_return": -0.163054,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-03-22",
        "end": "2024-06-07",
        "tenure": "Developing",
        "return": 0.043243,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-06-14",
        "end": "2024-07-05",
        "tenure": "New",
        "return": 0.14514,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-07-12",
        "end": "2024-07-26",
        "tenure": "New",
        "return": -0.104869,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-02",
        "end": "2025-01-10",
        "tenure": "Established",
        "return": -0.107914,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-17",
        "end": "2025-06-06",
        "tenure": "Established",
        "return": 0.009901,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-13",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.18,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-18",
        "end": "2025-07-25",
        "tenure": "New",
        "return": 0.222065,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-01",
        "end": "2025-09-12",
        "tenure": "Developing",
        "return": -0.142349,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-19",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.104457,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-11-28",
        "end": "2026-01-02",
        "tenure": "Developing",
        "return": 0.022124,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-09",
        "end": "2026-03-27",
        "tenure": "Developing",
        "return": 0.10162,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-04-03",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.26491,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-24",
        "end": "2026-07-31",
        "tenure": "Established",
        "return": -0.155264,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-08-07",
        "end": "2026-08-14",
        "tenure": "New",
        "return": 0.036262,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-11",
        "close": 74.246574,
        "volume": 2339000,
        "typical_volume": 2104650.0,
        "trend": 89.222003,
        "fair_value": 87.866865,
        "relative_strength": -27.021821,
        "stage": 4,
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        "activity_lines": [
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      },
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      },
      {
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      },
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      },
      {
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      },
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
        "close": 67.900002,
        "volume": 2836118,
        "typical_volume": 9427455.2,
        "trend": 76.288114,
        "fair_value": 70.336001,
        "relative_strength": -32.037028,
        "stage": 3,
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        "modifier": "Established expansion",
        "gate": "mixed",
        "direction": -31.611156,
        "energy": 34.549078,
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      },
      {
        "date": "2026-08-07",
        "close": 71.699997,
        "volume": 1813917,
        "typical_volume": 9226631.65,
        "trend": 76.435623,
        "fair_value": 70.267454,
        "relative_strength": -28.924804,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -24.152738,
        "energy": 46.314498,
        "activity_lines": [
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      },
      {
        "date": "2026-08-14",
        "close": 74.300003,
        "volume": 1840581,
        "typical_volume": 9110444.1,
        "trend": 76.715103,
        "fair_value": 70.210826,
        "relative_strength": -27.794541,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -22.65449,
        "energy": 45.329992,
        "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."
    }
  }
}