{ "ticker": { "uuid": "6a10cecf-03b9-43d0-bd52-6667968d6ec1", "symbol": "3190", "name": "Fubon Shanghai-Shenzhen-Hong Kong High Dividend Yield ETF", "exchange": "HKG", "country": "HK", "assetType": "etf" }, "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": "^HSI", "stage": 3, "stage_name": "Distribution", "phase": "3c", "phase_label": "Stage 3C \u00b7 Breakdown watch", "transition": "stage_3_to_4_watch", "transition_label": "Stage 3 \u2192 4 watch", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -25.941, "architecture_energy": 30.147, "architecture_maturity": 66.62, "architecture_confidence": 58.139, "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": 49.98, "rotation_up": 41.4, "upward_expansion": 21.88, "deceleration": 44.16, "rotation_down": 20.96, "downward_expansion": 55.88 }, "activity_lines": [ 16.77, 16.439528, 16.649099, 16.896537 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.0 }, "latest_close": 16.77, "trend_reference": 17.116718, "distance_from_trend": -0.020256, "trend_direction": "Weakening", "fair_value": 12.618557, "distance_from_fair_value": 0.328995, "fair_value_direction": "Weakening", "relative_strength": 1.401815, "relative_strength_direction": "Weakening", "price_momentum": -0.022078, "excess_performance": 0.011503, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.020256, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.000922, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.328995, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.136282, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.014018, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.049468, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.022078, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.570558, "read": "Supply-led" } ], "volume": { "latest": 890066, "relative_activity": 0.716632, "balance": 0.570558, "dry_up": 0.948822, "accumulation_observations": 2, "distribution_observations": 4 }, "risk": { "range_context": 0.032719, "annualized_volatility": 0.156819, "from_high_reference": -0.086852, "from_low_reference": 0.142372 }, "levels": { "trend_reference": 17.116718, "fair_value_reference": 12.618557, "structural_low": 15.29, 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3.209687, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.105249, "energy": 85.478125, "activity_lines": [ 15.865333, 16.141618, 16.671326, 16.923585 ] }, { "date": "2026-07-24", "close": 16.790001, "volume": 1040197, "typical_volume": 1311069.1, "trend": 17.076837, "fair_value": 12.511346, "relative_strength": 4.705458, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -59.865153, "energy": 48.760991, "activity_lines": [ 16.188667, 16.206933, 16.645107, 16.906329 ] }, { "date": "2026-07-31", "close": 17.26, "volume": 1567428, "typical_volume": 1320432.7, "trend": 17.104944, "fair_value": 12.566255, "relative_strength": 3.60932, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -19.753035, "energy": 21.941766, "activity_lines": [ 16.622667, 16.369213, 16.6687, 16.918146 ] }, { "date": "2026-08-07", "close": 16.77, "volume": 890066, "typical_volume": 1242012.85, "trend": 17.116718, "fair_value": 12.618557, "relative_strength": 1.401815, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -25.941291, "energy": 30.146798, "activity_lines": [ 16.77, 16.439528, 16.649099, 16.896537 ] } ], "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." } } }