{
  "ticker": {
    "uuid": "6d8cc4ef-049b-4288-a289-98252af31007",
    "symbol": "002132",
    "name": "Henan Hengxing Science & Technology Co.,Ltd.",
    "exchange": "SHZ",
    "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": "399001.SZ",
    "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": 54.479,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -20.489,
    "architecture_energy": 36.693,
    "architecture_maturity": 7.454,
    "architecture_confidence": 73.631,
    "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": 35.7,
        "rotation_up": 19.5,
        "upward_expansion": 22.99,
        "deceleration": 53.15,
        "rotation_down": 66.22,
        "downward_expansion": 45.66
      },
      "activity_lines": [
        4.203333,
        4.617506,
        4.870044,
        4.732722
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 4.19,
    "trend_reference": 4.496555,
    "distance_from_trend": -0.068175,
    "trend_direction": "Improving",
    "fair_value": 3.28969,
    "distance_from_fair_value": 0.273676,
    "fair_value_direction": "Weakening",
    "relative_strength": -2.660474,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.060759,
    "excess_performance": 0.05336,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.068175,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.097077,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.273676,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.534449,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.026605,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.246059,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.060759,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.51463,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 288533092,
      "relative_activity": 0.761335,
      "balance": 0.51463,
      "dry_up": 0.990765,
      "accumulation_observations": 1,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.176971,
      "annualized_volatility": 0.625742,
      "from_high_reference": -0.342229,
      "from_low_reference": 0.265861
    },
    "levels": {
      "trend_reference": 4.496555,
      "fair_value_reference": 3.28969,
      "structural_low": 3.51,
      "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": 0.024658,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.032181,
        "regime_survival": 0.4,
        "best_return": 0.080078,
        "worst_return": -0.045908,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.105469,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.062,
        "regime_survival": 0.0,
        "best_return": 0.109195,
        "worst_return": -0.061876,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.384766,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.3493,
        "regime_survival": 0.0,
        "best_return": 0.550363,
        "worst_return": -0.157685,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.099609,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.019841,
        "regime_survival": 0.0,
        "best_return": -0.099609,
        "worst_return": -0.099609,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-10-04",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": 0.087912,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-15",
        "end": "2025-01-03",
        "tenure": "Developing",
        "return": -0.061818,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-10",
        "end": "2025-03-07",
        "tenure": "Developing",
        "return": 0.18254,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-05-02",
        "tenure": "Developing",
        "return": 0.067114,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-05-09",
        "end": "2025-05-30",
        "tenure": "New",
        "return": 0.024768,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-06",
        "end": "2025-09-05",
        "tenure": "Established",
        "return": 0.12754,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-12",
        "end": "2025-10-10",
        "tenure": "Developing",
        "return": 0.050802,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-11-28",
        "tenure": "Developing",
        "return": -0.086207,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-05",
        "end": "2025-12-12",
        "tenure": "New",
        "return": -0.068493,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-12-19",
        "end": "2026-01-16",
        "tenure": "Developing",
        "return": 0.048851,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-23",
        "end": "2026-04-17",
        "tenure": "Developing",
        "return": 0.120988,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-06-19",
        "tenure": "Developing",
        "return": 0.099344,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2026-07-31",
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        "return": -0.288265,
        "active": false
      },
      {
        "regime": "rotation_down",
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        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-07-28",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 359590104.9,
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        "stage": 2,
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        "energy": 17.864965,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 371909964.8,
        "trend": 4.467888,
        "fair_value": 3.282196,
        "relative_strength": -2.711162,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": -3.632969,
        "energy": 10.94228,
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      },
      {
        "date": "2026-07-31",
        "close": 3.84,
        "volume": 277768330,
        "typical_volume": 374390031.1,
        "trend": 4.475221,
        "fair_value": 3.284573,
        "relative_strength": -6.271985,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -28.55569,
        "energy": 31.320417,
        "activity_lines": [
          4.367618,
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          4.928504,
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      },
      {
        "date": "2026-08-07",
        "close": 4.19,
        "volume": 288533092,
        "typical_volume": 378983245.0,
        "trend": 4.496555,
        "fair_value": 3.28969,
        "relative_strength": -2.660474,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -20.488951,
        "energy": 36.693414,
        "activity_lines": [
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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."
    }
  }
}