{
  "ticker": {
    "uuid": "7d54e57d-3930-4001-b308-0dcc10588a57",
    "symbol": "6148",
    "name": "Azion Corporation",
    "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": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -55.425,
    "architecture_energy": 54.706,
    "architecture_maturity": 13.027,
    "architecture_confidence": 91.308,
    "architecture_tenure": "New",
    "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": 34.73,
        "rotation_up": 11.71,
        "upward_expansion": 11.41,
        "deceleration": 38.61,
        "rotation_down": 63.23,
        "downward_expansion": 84.74
      },
      "activity_lines": [
        28.033333,
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        30.40119,
        31.115493
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 28.549999,
    "trend_reference": 32.181255,
    "distance_from_trend": -0.112838,
    "trend_direction": "Weakening",
    "fair_value": 34.72629,
    "distance_from_fair_value": -0.177856,
    "fair_value_direction": "Improving",
    "relative_strength": -46.491357,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.141824,
    "excess_performance": -0.583196,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.112838,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.075546,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.177856,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.019547,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.464914,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.102489,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.141824,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.700461,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1259710,
      "relative_activity": 0.367646,
      "balance": 0.700461,
      "dry_up": 0.540731,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.15937,
      "annualized_volatility": 0.50762,
      "from_high_reference": -0.543101,
      "from_low_reference": 0.15587
    },
    "levels": {
      "trend_reference": 32.181255,
      "fair_value_reference": 34.72629,
      "structural_low": 24.700001,
      "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": 25,
        "median_return": 0.01487,
        "positive_rate": 0.56,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.008572,
        "regime_survival": 0.76,
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        "worst_return": -0.140909,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
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        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
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        "regime_survival": 0.444444,
        "best_return": 0.131783,
        "worst_return": -0.190403,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.002864,
        "positive_rate": 0.4,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.169358,
        "regime_survival": 0.4,
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        "worst_return": -0.281975,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "directional_follow_through": 0.333333,
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        "regime_survival": 0.333333,
        "best_return": 2.613731,
        "worst_return": -0.051584,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2023-09-15",
        "tenure": "Developing",
        "return": -0.271663,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "active": false
      },
      {
        "regime": "balance",
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        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "Developing",
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        "active": false
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        "regime": "balance",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-06-06",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "tenure": "Developing",
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        "regime": "balance",
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      {
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      },
      {
        "date": "2026-04-24",
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      },
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      },
      {
        "date": "2026-07-24",
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        "volume": 900166,
        "typical_volume": 4136807.6,
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        "stage": 4,
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        "energy": 36.484843,
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          30.363333,
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      },
      {
        "date": "2026-07-31",
        "close": 26.5,
        "volume": 2838062,
        "typical_volume": 3815591.55,
        "trend": 32.833902,
        "fair_value": 34.844311,
        "relative_strength": -49.441329,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "energy": 55.493575,
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          28.863333,
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      },
      {
        "date": "2026-08-07",
        "close": 28.049999,
        "volume": 2413155,
        "typical_volume": 3469913.55,
        "trend": 32.468709,
        "fair_value": 34.777192,
        "relative_strength": -46.690001,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.106883,
        "energy": 57.348426,
        "activity_lines": [
          28.166666,
          29.888181,
          30.660103,
          31.368313
        ]
      },
      {
        "date": "2026-08-14",
        "close": 28.549999,
        "volume": 1259710,
        "typical_volume": 3426424.55,
        "trend": 32.181255,
        "fair_value": 34.72629,
        "relative_strength": -46.491357,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.425462,
        "energy": 54.706144,
        "activity_lines": [
          28.033333,
          29.396363,
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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."
    }
  }
}