{
  "ticker": {
    "uuid": "5d7e695f-51aa-473c-8b6c-7476aacf638c",
    "symbol": "3491",
    "name": "Universal Microwave Technology, Inc.",
    "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": 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": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -29.559,
    "architecture_energy": 30.661,
    "architecture_maturity": 16.821,
    "architecture_confidence": 54.834,
    "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": 43.94,
        "rotation_up": 22.26,
        "upward_expansion": 10.58,
        "deceleration": 59.22,
        "rotation_down": 52.99,
        "downward_expansion": 47.58
      },
      "activity_lines": [
        1229.994149,
        1257.068353,
        1432.505938,
        1470.19156
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 1375.0,
    "trend_reference": 1453.493011,
    "distance_from_trend": -0.054003,
    "trend_direction": "Improving",
    "fair_value": 526.854287,
    "distance_from_fair_value": 1.60983,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.254043,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.101379,
    "excess_performance": -0.339993,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.054003,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.204531,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 1.60983,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -1.427013,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.02254,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.624234,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.101379,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.002347,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 8399399,
      "relative_activity": 0.89857,
      "balance": 1.002347,
      "dry_up": 1.00779,
      "accumulation_observations": 3,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.208204,
      "annualized_volatility": 0.936689,
      "from_high_reference": -0.371714,
      "from_low_reference": 3.138414
    },
    "levels": {
      "trend_reference": 1453.493011,
      "fair_value_reference": 526.854287,
      "structural_low": 909.0,
      "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": 5,
        "median_return": 0.074576,
        "positive_rate": 0.8,
        "directional_follow_through": 0.2,
        "median_excess_return": 0.064335,
        "regime_survival": 0.4,
        "best_return": 0.215613,
        "worst_return": -0.054653,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.157534,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.224516,
        "regime_survival": 0.0,
        "best_return": 0.309327,
        "worst_return": 0.036405,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.082192,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.064721,
        "regime_survival": 0.0,
        "best_return": 0.350786,
        "worst_return": -0.050547,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 1.126493,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.847403,
        "regime_survival": 0.0,
        "best_return": 5.618552,
        "worst_return": 0.313155,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-03-08",
        "end": "2024-04-19",
        "tenure": "Developing",
        "return": 0.169872,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-04-26",
        "end": "2024-10-11",
        "tenure": "Established",
        "return": 0.569429,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-10-18",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": 0.159869,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-10",
        "end": "2025-04-11",
        "tenure": "Established",
        "return": -0.017426,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-18",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": -0.029948,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-05-23",
        "end": "2025-06-27",
        "tenure": "Developing",
        "return": 0.094535,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-07-04",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": 0.065755,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-08-22",
        "end": "2025-09-05",
        "tenure": "New",
        "return": 0.268505,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-09-12",
        "end": "2025-10-03",
        "tenure": "New",
        "return": 0.067916,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-10",
        "end": "2025-11-07",
        "tenure": "Developing",
        "return": -0.082002,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-11-14",
        "end": "2025-11-28",
        "tenure": "New",
        "return": 0.103226,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-05",
        "end": "2026-07-03",
        "tenure": "Extended",
        "return": 1.533081,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "start": "2026-07-10",
        "end": "2026-07-17",
        "tenure": "New",
        "return": 0.066929,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-07-24",
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        "tenure": "New",
        "return": 0.155462,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-11",
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        "typical_volume": 8078700.0,
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      },
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      },
      {
        "date": "2026-07-31",
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      },
      {
        "date": "2026-08-07",
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        "volume": 9752521,
        "typical_volume": 9334215.6,
        "trend": 1433.523678,
        "fair_value": 518.96277,
        "relative_strength": -3.868488,
        "stage": 3,
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        "gate": "mixed",
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        "energy": 38.939052,
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      },
      {
        "date": "2026-08-14",
        "close": 1375.0,
        "volume": 8399399,
        "typical_volume": 9347515.75,
        "trend": 1453.493011,
        "fair_value": 526.854287,
        "relative_strength": 2.254043,
        "stage": 3,
        "regime": "rotation_down",
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        "gate": "mixed",
        "direction": -29.559133,
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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."
    }
  }
}