{
  "ticker": {
    "uuid": "4f54cffe-6217-4487-bd86-fc686caeda26",
    "symbol": "DU4",
    "name": "Mermaid Maritime Public Company Limited",
    "exchange": "SES",
    "country": "SG",
    "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": "^STI",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 59.543,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Re-acceleration watch",
    "architecture_gate": "up",
    "architecture_direction": 35.464,
    "architecture_energy": 23.264,
    "architecture_maturity": 20.857,
    "architecture_confidence": 58.932,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The prior uptrend is attempting to re-accelerate.",
        "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set."
      },
      "scores": {
        "balance": 43.38,
        "rotation_up": 47.45,
        "upward_expansion": 66.89,
        "deceleration": 54.16,
        "rotation_down": 17.89,
        "downward_expansion": 10.22
      },
      "activity_lines": [
        0.1054,
        0.103673,
        0.104759,
        0.102255
      ],
      "activity_state": "Compressed",
      "activity_direction": "Stable",
      "rotation_direction": "Improving",
      "price_acceptance": 0.333333
    },
    "latest_close": 0.104,
    "trend_reference": 0.098837,
    "distance_from_trend": 0.052234,
    "trend_direction": "Improving",
    "fair_value": 0.091362,
    "distance_from_fair_value": 0.138331,
    "fair_value_direction": "Weakening",
    "relative_strength": -7.841812,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.159679,
    "excess_performance": 0.004844,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.052234,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.044146,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.138331,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.237652,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.078418,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.3057,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.159679,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.908359,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1851500,
      "relative_activity": 0.861279,
      "balance": 0.908359,
      "dry_up": 1.070075,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.087278,
      "annualized_volatility": 0.553378,
      "from_high_reference": -0.154472,
      "from_low_reference": 0.262304
    },
    "levels": {
      "trend_reference": 0.098837,
      "fair_value_reference": 0.091362,
      "structural_low": 0.083118,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 17,
        "median_return": 0.0,
        "positive_rate": 0.470588,
        "directional_follow_through": 0.470588,
        "median_excess_return": -0.004795,
        "regime_survival": 0.529412,
        "best_return": 0.338248,
        "worst_return": -0.193332,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
        "median_return": 0.073539,
        "positive_rate": 0.888889,
        "directional_follow_through": 0.888889,
        "median_excess_return": 0.058209,
        "regime_survival": 0.333333,
        "best_return": 0.350002,
        "worst_return": -0.073332,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.161782,
        "positive_rate": 0.8,
        "directional_follow_through": 0.8,
        "median_excess_return": 0.046689,
        "regime_survival": 0.4,
        "best_return": 0.581408,
        "worst_return": -0.10666,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.132354,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.078212,
        "regime_survival": 0.0,
        "best_return": 0.863016,
        "worst_return": -0.206664,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-10-11",
        "end": "2024-11-01",
        "tenure": "New",
        "return": -0.105883,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-22",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
        "return": -0.17605,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "New",
        "return": 0.02542,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Developing",
        "return": -0.053023,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "Established",
        "return": -0.032006,
        "active": false
      },
      {
        "regime": "balance",
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        "return": 0.008706,
        "active": false
      },
      {
        "regime": "downward_expansion",
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      },
      {
        "regime": "upward_expansion",
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        "active": true
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    ],
    "chart_path": [
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 5100420.0,
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        "stage": 2,
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      },
      {
        "date": "2026-07-24",
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        "volume": 2633000,
        "typical_volume": 3406420.0,
        "trend": 0.098062,
        "fair_value": 0.090965,
        "relative_strength": 0.715701,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": 47.758176,
        "energy": 23.315421,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 0.103,
        "volume": 962300,
        "typical_volume": 2491670.0,
        "trend": 0.098384,
        "fair_value": 0.091149,
        "relative_strength": -7.792145,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 35.427915,
        "energy": 25.309425,
        "activity_lines": [
          0.105333,
          0.103582,
          0.104562,
          0.101893
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.104,
        "volume": 1851500,
        "typical_volume": 2149710.0,
        "trend": 0.098837,
        "fair_value": 0.091362,
        "relative_strength": -7.841812,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 35.464286,
        "energy": 23.264478,
        "activity_lines": [
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          0.103673,
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          0.102255
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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."
    }
  }
}