{ "ticker": { "uuid": "71a958f9-5ed9-432f-933a-7c64c6b107af", "symbol": "600671", "name": "Hangzhou TianMuShan Pharmaceutical Enterprise 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": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "mixed", "architecture_direction": 31.532, "architecture_energy": 32.677, "architecture_maturity": 14.914, "architecture_confidence": 89.456, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "Directional pressure has compressed into balance.", "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base." }, "scores": { "balance": 46.45, "rotation_up": 65.9, "upward_expansion": 43.09, "deceleration": 30.45, "rotation_down": 14.65, "downward_expansion": 15.75 }, "activity_lines": [ 20.506, 19.596909, 19.125714, 19.390624 ], "activity_state": "Compressed", "activity_direction": "Stable", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 21.530001, "trend_reference": 19.547666, "distance_from_trend": 0.10141, "trend_direction": "Improving", "fair_value": 12.821923, "distance_from_fair_value": 0.679155, "fair_value_direction": "Weakening", "relative_strength": 15.001393, "relative_strength_direction": "Improving", "price_momentum": 0.125458, "excess_performance": 0.168661, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.10141, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.020464, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.679155, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.006605, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.150014, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.097629, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.125458, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.375511, "read": "Demand-led" } ], "volume": { "latest": 26843500, "relative_activity": 1.898883, "balance": 2.375511, "dry_up": 2.238364, "accumulation_observations": 4, "distribution_observations": 1 }, "risk": { "range_context": 0.093144, "annualized_volatility": 0.357384, "from_high_reference": -0.081485, "from_low_reference": 0.49826 }, "levels": { "trend_reference": 19.547666, "fair_value_reference": 12.821923, "structural_low": 15.87, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 4, "median_return": 0.010616, "positive_rate": 0.75, "directional_follow_through": 0.75, "median_excess_return": 0.024429, "regime_survival": 0.25, "best_return": 0.05, "worst_return": -0.156374, "sufficient": false }, { "horizon": "Intermediate", "sample_count": 3, "median_return": 0.072211, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": 0.062368, "regime_survival": 0.333333, "best_return": 0.075964, "worst_return": -0.094318, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": -0.025403, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.002425, "regime_survival": 0.0, "best_return": 0.094318, "worst_return": -0.145125, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 1, "median_return": 0.078409, "positive_rate": 1.0, "directional_follow_through": 1.0, "median_excess_return": 0.124923, "regime_survival": 0.0, "best_return": 0.078409, "worst_return": 0.078409, "sufficient": false } ], "ledger": [ { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2024-01-26", "end": "2024-02-23", "tenure": "New", "return": -0.162257, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-03-01", "end": "2024-03-22", "tenure": "New", "return": -0.031285, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2024-03-29", "end": "2024-10-18", "tenure": "Extended", "return": -0.156455, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2024-10-25", "end": "2024-11-22", "tenure": "Developing", "return": 0.048235, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2024-11-29", "end": "2025-01-03", "tenure": "Developing", "return": -0.093348, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-01-10", "end": "2025-02-07", "tenure": "Developing", "return": 0.193431, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-02-14", "end": "2025-06-13", "tenure": "Established", "return": 0.337079, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-06-20", "end": "2025-06-27", "tenure": "New", "return": 0.059375, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-07-04", "end": "2025-11-21", "tenure": "Established", "return": 0.22855, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-11-28", "end": "2026-01-30", "tenure": "Developing", "return": 0.104503, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2026-02-06", "end": "2026-05-01", "tenure": "Developing", "return": 0.008101, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-05-08", "end": "2026-05-29", "tenure": "New", "return": -0.130478, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2026-06-05", "end": "2026-07-17", "tenure": "Developing", "return": 0.226092, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-07-24", "end": "2026-08-07", "tenure": "New", "return": 0.113813, "active": true } ], "chart_path": [ { "date": "2023-07-28", "close": 9.11, "volume": 6044264, "typical_volume": 4059006.9, "trend": 8.420333, "fair_value": 8.636474, "relative_strength": 6.444597, "stage": 1, "regime": "downward_expansion", "modifier": "Established 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"energy": 19.066245, "activity_lines": [ 18.242666, 17.979272, 18.717714, 19.075591 ] }, { "date": "2026-07-17", "close": 20.77, "volume": 47771847, "typical_volume": 12466309.55, "trend": 19.239, "fair_value": 12.591218, "relative_strength": 17.764176, "stage": 3, "regime": "rotation_down", "modifier": "Structural failure", "gate": "down", "direction": -5.077972, "energy": 14.91534, "activity_lines": [ 19.218, 18.455818, 18.839857, 19.183247 ] }, { "date": "2026-07-24", "close": 19.33, "volume": 33294496, "typical_volume": 13315006.35, "trend": 19.299666, "fair_value": 12.662564, "relative_strength": 7.686046, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": -1.232282, "energy": 17.033797, "activity_lines": [ 19.426666, 18.658, 18.827476, 19.189118 ] }, { "date": "2026-07-31", "close": 20.299999, "volume": 18660410, "typical_volume": 13391082.4, "trend": 19.407, "fair_value": 12.739423, "relative_strength": 12.002007, "stage": 3, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 18.755951, "energy": 25.350023, "activity_lines": [ 19.867333, 19.028181, 18.915571, 19.253656 ] }, { "date": "2026-08-07", "close": 21.530001, "volume": 26843500, "typical_volume": 14136470.9, "trend": 19.547666, "fair_value": 12.821923, "relative_strength": 15.001393, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "mixed", "direction": 31.532245, "energy": 32.676557, "activity_lines": [ 20.506, 19.596909, 19.125714, 19.390624 ] } ], "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." } } }