{ "ticker": { "uuid": "68a68976-d30a-4bcd-baee-e6763a31232b", "symbol": "603607", "name": "Zhejiang Jinghua Laser Technology Co.,Ltd", "exchange": "SHH", "country": "CN", "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": "000001.SS", "stage": 4, "stage_name": "Declining", "phase": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "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": -48.454, "architecture_energy": 42.452, "architecture_maturity": 40.242, "architecture_confidence": 88.235, "architecture_tenure": "Established", "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": 30.31, "rotation_up": 17.82, "upward_expansion": 11.84, "deceleration": 36.59, "rotation_down": 56.76, "downward_expansion": 78.17 }, "activity_lines": [ 20.832, 21.392896, 21.751663, 22.157939 ], "activity_state": "Moderate", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.166667 }, "latest_close": 21.809999, "trend_reference": 23.031375, "distance_from_trend": -0.053031, "trend_direction": "Weakening", "fair_value": 18.675038, "distance_from_fair_value": 0.167869, "fair_value_direction": "Weakening", "relative_strength": -7.911488, "relative_strength_direction": "Improving", "price_momentum": -0.073492, "excess_performance": -0.030288, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.053031, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.047758, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.167869, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.135444, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.079115, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.044995, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.073492, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.781097, "read": "Supply-led" } ], "volume": { "latest": 19837204, "relative_activity": 1.076372, "balance": 0.781097, "dry_up": 1.358433, "accumulation_observations": 3, "distribution_observations": 4 }, "risk": { "range_context": 0.127854, "annualized_volatility": 0.515801, "from_high_reference": -0.253849, "from_low_reference": 0.211667 }, "levels": { "trend_reference": 23.031375, "fair_value_reference": 18.675038, "structural_low": 18.0, "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": 17, "median_return": 0.025535, "positive_rate": 0.647059, "directional_follow_through": 0.352941, "median_excess_return": -0.002198, "regime_survival": 0.764706, "best_return": 0.330739, "worst_return": -0.188544, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": 0.033723, "positive_rate": 0.714286, "directional_follow_through": 0.285714, "median_excess_return": 0.050233, "regime_survival": 0.428571, "best_return": 0.635677, "worst_return": -0.101985, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.034356, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": 0.068079, "regime_survival": 0.25, "best_return": 0.568793, "worst_return": -0.072288, "sufficient": false }, 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"typical_volume": 19408352.35, "trend": 23.384375, "fair_value": 18.577609, "relative_strength": -18.784094, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -64.305586, "energy": 27.581478, "activity_lines": [ 21.382666, 21.569462, 21.952104, 22.441085 ] }, { "date": "2026-07-31", "close": 20.4, "volume": 28548382, "typical_volume": 19779587.4, "trend": 23.214375, "fair_value": 18.621197, "relative_strength": -11.698386, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -52.194235, "energy": 40.517196, "activity_lines": [ 20.819333, 21.321649, 21.77486, 22.248544 ] }, { "date": "2026-08-07", "close": 21.809999, "volume": 19837204, "typical_volume": 18429694.95, "trend": 23.031375, "fair_value": 18.675038, "relative_strength": -7.911488, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.453986, "energy": 42.452153, "activity_lines": [ 20.832, 21.392896, 21.751663, 22.157939 ] } ], "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." } } }