{
  "ticker": {
    "uuid": "6970a879-158f-4bba-bf55-21370b5edff0",
    "symbol": "4528",
    "name": "Chian Hsing Forging Industrial Co., Ltd.",
    "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": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 85.901,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -59.974,
    "architecture_energy": 42.208,
    "architecture_maturity": 48.238,
    "architecture_confidence": 94.963,
    "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": 16.29,
        "rotation_up": 24.42,
        "upward_expansion": 5.74,
        "deceleration": 53.84,
        "rotation_down": 52.62,
        "downward_expansion": 81.41
      },
      "activity_lines": [
        15.25,
        15.340909,
        15.562619,
        16.031768
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.833333
    },
    "latest_close": 15.2,
    "trend_reference": 16.823004,
    "distance_from_trend": -0.096475,
    "trend_direction": "Weakening",
    "fair_value": 23.206871,
    "distance_from_fair_value": -0.345022,
    "fair_value_direction": "Improving",
    "relative_strength": -37.732477,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.223292,
    "excess_performance": -0.664664,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.096475,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.020955,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.345022,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.016485,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.377325,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.026778,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.223292,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.689115,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 73930,
      "relative_activity": 0.39538,
      "balance": 0.689115,
      "dry_up": 0.568057,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.048836,
      "annualized_volatility": 0.160671,
      "from_high_reference": -0.322519,
      "from_low_reference": 0.020134
    },
    "levels": {
      "trend_reference": 16.823004,
      "fair_value_reference": 23.206871,
      "structural_low": 14.9,
      "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": 42,
        "median_return": -0.006658,
        "positive_rate": 0.404762,
        "directional_follow_through": 0.595238,
        "median_excess_return": -0.032844,
        "regime_survival": 0.833333,
        "best_return": 0.190588,
        "worst_return": -0.16787,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": -0.02474,
        "positive_rate": 0.214286,
        "directional_follow_through": 0.785714,
        "median_excess_return": -0.138182,
        "regime_survival": 0.5,
        "best_return": 0.154545,
        "worst_return": -0.178947,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": -0.039761,
        "positive_rate": 0.125,
        "directional_follow_through": 0.875,
        "median_excess_return": -0.225194,
        "regime_survival": 0.25,
        "best_return": 0.095963,
        "worst_return": -0.310024,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.144551,
        "positive_rate": 0.25,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.23724,
        "regime_survival": 0.25,
        "best_return": 0.141521,
        "worst_return": -0.391615,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-04-12",
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        "return": -0.041401,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-04-19",
        "end": "2024-06-28",
        "tenure": "Developing",
        "return": -0.00678,
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      },
      {
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "New",
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      {
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      {
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        "label": "Downward Expansion",
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        "tenure": "Extended",
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        "regime": "rotation_up",
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      {
        "regime": "balance",
        "label": "Balance",
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        "active": false
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      {
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        "active": false
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 181823.45,
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        "fair_value": 23.767116,
        "relative_strength": -40.692067,
        "stage": 4,
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      },
      {
        "date": "2026-07-17",
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        "trend": 16.995368,
        "fair_value": 23.654544,
        "relative_strength": -35.725185,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -61.308214,
        "energy": 46.490438,
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      },
      {
        "date": "2026-07-24",
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        "volume": 101409,
        "typical_volume": 185671.85,
        "trend": 16.951919,
        "fair_value": 23.543507,
        "relative_strength": -36.366905,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -59.852145,
        "energy": 45.032159,
        "activity_lines": [
          15.396667,
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          15.817799,
          16.35867
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      },
      {
        "date": "2026-07-31",
        "close": 15.25,
        "volume": 149974,
        "typical_volume": 189418.55,
        "trend": 16.905116,
        "fair_value": 23.429359,
        "relative_strength": -35.39037,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -62.015009,
        "energy": 44.582899,
        "activity_lines": [
          15.343333,
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          16.248869
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      },
      {
        "date": "2026-08-07",
        "close": 15.2,
        "volume": 99559,
        "typical_volume": 189338.15,
        "trend": 16.859942,
        "fair_value": 23.318269,
        "relative_strength": -36.359399,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -61.241085,
        "energy": 43.052284,
        "activity_lines": [
          15.286667,
          15.401818,
          15.636146,
          16.138861
        ]
      },
      {
        "date": "2026-08-14",
        "close": 15.2,
        "volume": 73930,
        "typical_volume": 186984.65,
        "trend": 16.823004,
        "fair_value": 23.206871,
        "relative_strength": -37.732477,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -59.974129,
        "energy": 42.208422,
        "activity_lines": [
          15.25,
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          16.031768
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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."
    }
  }
}