{
  "ticker": {
    "uuid": "5d70ffa6-a6b5-4374-9d71-d6c624d0df20",
    "symbol": "MOGU",
    "name": "MOGU Inc",
    "exchange": "NYSE",
    "country": "US",
    "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": "SPY",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -51.887,
    "architecture_energy": 27.241,
    "architecture_maturity": 38.133,
    "architecture_confidence": 93.066,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 33.08,
        "rotation_up": 21.01,
        "upward_expansion": 2.32,
        "deceleration": 51.25,
        "rotation_down": 43.61,
        "downward_expansion": 73.32
      },
      "activity_lines": [
        1.931333,
        1.942909,
        2.019558,
        2.097691
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 1.87,
    "trend_reference": 2.178097,
    "distance_from_trend": -0.141452,
    "trend_direction": "Weakening",
    "fair_value": 2.26389,
    "distance_from_fair_value": -0.173988,
    "fair_value_direction": "Weakening",
    "relative_strength": -32.959461,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.224066,
    "excess_performance": -0.349691,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.141452,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.080718,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.173988,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.171787,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.329595,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.135835,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.224066,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.547568,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 26920,
      "relative_activity": 0.481722,
      "balance": 0.547568,
      "dry_up": 0.461027,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.209247,
      "annualized_volatility": 0.674776,
      "from_high_reference": -0.769136,
      "from_low_reference": 0.472441
    },
    "levels": {
      "trend_reference": 2.178097,
      "fair_value_reference": 2.26389,
      "structural_low": 1.27,
      "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": 31,
        "median_return": 0.008439,
        "positive_rate": 0.516129,
        "directional_follow_through": 0.483871,
        "median_excess_return": -0.006984,
        "regime_survival": 0.774194,
        "best_return": 0.310345,
        "worst_return": -0.421818,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": -0.01654,
        "positive_rate": 0.454545,
        "directional_follow_through": 0.545455,
        "median_excess_return": -0.060873,
        "regime_survival": 0.363636,
        "best_return": 0.644231,
        "worst_return": -0.627627,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": 0.120949,
        "positive_rate": 0.625,
        "directional_follow_through": 0.375,
        "median_excess_return": 0.026711,
        "regime_survival": 0.375,
        "best_return": 0.4,
        "worst_return": -0.756667,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.201292,
        "positive_rate": 0.75,
        "directional_follow_through": 0.25,
        "median_excess_return": 0.060203,
        "regime_survival": 0.25,
        "best_return": 0.496552,
        "worst_return": -0.878889,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-12-20",
        "end": "2025-01-10",
        "tenure": "New",
        "return": -0.024096,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-01-17",
        "end": "2025-01-31",
        "tenure": "New",
        "return": -0.019608,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-07",
        "end": "2025-03-14",
        "tenure": "Developing",
        "return": -0.219858,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-03-21",
        "end": "2025-03-28",
        "tenure": "New",
        "return": 0.087441,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.050691,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-06-20",
        "tenure": "Developing",
        "return": -0.00939,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-06-27",
        "end": "2025-07-11",
        "tenure": "New",
        "return": 0.144231,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-09-05",
        "tenure": "Developing",
        "return": 0.0375,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-10-17",
        "tenure": "Developing",
        "return": -0.369388,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-24",
        "end": "2025-12-19",
        "tenure": "Developing",
        "return": -0.192308,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-12-26",
        "end": "2026-01-23",
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        "return": -0.218,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-30",
        "end": "2026-04-10",
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        "return": 0.054852,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2026-05-22",
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        "return": -0.195388,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2026-08-07",
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        "return": -0.078818,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 56851.6,
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        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -15.963424,
        "energy": 9.722372,
        "activity_lines": [
          2.39922,
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          2.352585,
          2.389918
        ]
      },
      {
        "date": "2026-05-08",
        "close": 2.29,
        "volume": 36689,
        "typical_volume": 80014.0,
        "trend": 2.467013,
        "fair_value": 2.295051,
        "relative_strength": -19.376003,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -23.174033,
        "energy": 8.824209,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
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        "volume": 98181,
        "typical_volume": 83152.05,
        "trend": 2.43468,
        "fair_value": 2.292872,
        "relative_strength": -25.062134,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -52.803699,
        "energy": 30.86101,
        "activity_lines": [
          2.2727,
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          2.328271,
          2.353895
        ]
      },
      {
        "date": "2026-05-22",
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        "volume": 56769,
        "typical_volume": 83083.15,
        "trend": 2.39768,
        "fair_value": 2.289891,
        "relative_strength": -29.178145,
        "stage": 4,
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        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -60.481574,
        "energy": 47.756775,
        "activity_lines": [
          2.16544,
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 2.03,
        "volume": 17999,
        "typical_volume": 83490.85,
        "trend": 2.369347,
        "fair_value": 2.286558,
        "relative_strength": -29.148646,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -61.015331,
        "energy": 56.581294,
        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 2.06,
        "volume": 143368,
        "typical_volume": 88432.55,
        "trend": 2.35168,
        "fair_value": 2.283256,
        "relative_strength": -25.967136,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.018146,
        "energy": 58.65247,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 1.91,
        "volume": 51505,
        "typical_volume": 90321.65,
        "trend": 2.32568,
        "fair_value": 2.278577,
        "relative_strength": -31.414754,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "stage": 4,
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        "energy": 41.684382,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "volume": 325129,
        "typical_volume": 59387.45,
        "trend": 2.27693,
        "fair_value": 2.272103,
        "relative_strength": -38.543821,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -72.178357,
        "energy": 50.481041,
        "activity_lines": [
          1.911333,
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          2.140927,
          2.199094
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      },
      {
        "date": "2026-07-03",
        "close": 2.05,
        "volume": 73837,
        "typical_volume": 55866.95,
        "trend": 2.25693,
        "fair_value": 2.269154,
        "relative_strength": -25.904191,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -53.93866,
        "energy": 34.438652,
        "activity_lines": [
          1.942667,
          1.992742,
          2.122841,
          2.184453
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      },
      {
        "date": "2026-07-10",
        "close": 2.07,
        "volume": 23722,
        "typical_volume": 55589.1,
        "trend": 2.236263,
        "fair_value": 2.267679,
        "relative_strength": -25.760013,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -49.77748,
        "energy": 28.260913,
        "activity_lines": [
          1.979333,
          1.994909,
          2.109994,
          2.172393
        ]
      },
      {
        "date": "2026-07-17",
        "close": 1.9,
        "volume": 31938,
        "typical_volume": 55764.1,
        "trend": 2.215597,
        "fair_value": 2.264474,
        "relative_strength": -30.312611,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -53.724143,
        "energy": 30.629869,
        "activity_lines": [
          1.958667,
          1.970909,
          2.082909,
          2.150699
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.89,
        "volume": 10170,
        "typical_volume": 54662.2,
        "trend": 2.195263,
        "fair_value": 2.261903,
        "relative_strength": -29.90396,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -51.281217,
        "energy": 26.087238,
        "activity_lines": [
          1.935333,
          1.952182,
          2.057205,
          2.129692
        ]
      },
      {
        "date": "2026-07-31",
        "close": 2.02,
        "volume": 34026,
        "typical_volume": 55392.85,
        "trend": 2.190763,
        "fair_value": 2.261198,
        "relative_strength": -25.531052,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -37.595779,
        "energy": 19.657581,
        "activity_lines": [
          1.97,
          1.961273,
          2.045215,
          2.118385
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.87,
        "volume": 26920,
        "typical_volume": 55882.8,
        "trend": 2.178097,
        "fair_value": 2.26389,
        "relative_strength": -32.959461,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -51.886558,
        "energy": 27.241285,
        "activity_lines": [
          1.931333,
          1.942909,
          2.019558,
          2.097691
        ]
      }
    ],
    "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."
    }
  }
}