{
  "ticker": {
    "uuid": "7fcbe53e-2b5d-4cfe-9c18-61db16e59510",
    "symbol": "5254",
    "name": "Cen Link 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": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 78.816,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Momentum cooling",
    "architecture_gate": "mixed",
    "architecture_direction": -13.102,
    "architecture_energy": 23.794,
    "architecture_maturity": 30.846,
    "architecture_confidence": 42.931,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 47.59,
        "rotation_up": 16.78,
        "upward_expansion": 22.39,
        "deceleration": 55.91,
        "rotation_down": 50.97,
        "downward_expansion": 38.39
      },
      "activity_lines": [
        36.663333,
        37.769091,
        39.501666,
        38.488817
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 37.549999,
    "trend_reference": 36.728333,
    "distance_from_trend": 0.022371,
    "trend_direction": "Improving",
    "fair_value": 30.071282,
    "distance_from_fair_value": 0.2487,
    "fair_value_direction": "Weakening",
    "relative_strength": -22.299768,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.158951,
    "excess_performance": -0.282422,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.022371,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.073928,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.2487,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.543888,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.222998,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.295858,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.158951,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.395837,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 173481,
      "relative_activity": 0.289079,
      "balance": 0.395837,
      "dry_up": 0.300774,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.164089,
      "annualized_volatility": 0.608281,
      "from_high_reference": -0.403968,
      "from_low_reference": 0.299308
    },
    "levels": {
      "trend_reference": 36.728333,
      "fair_value_reference": 30.071282,
      "structural_low": 30.5,
      "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": 7,
        "median_return": 0.004762,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.024974,
        "regime_survival": 0.571429,
        "best_return": 0.082143,
        "worst_return": -0.156627,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.047445,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.001529,
        "regime_survival": 0.0,
        "best_return": 0.115689,
        "worst_return": -0.116981,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.03962,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.084757,
        "regime_survival": 0.0,
        "best_return": 0.60584,
        "worst_return": -0.049056,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.014815,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.209662,
        "regime_survival": 0.0,
        "best_return": 0.107721,
        "worst_return": -0.078091,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-12-06",
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        "return": -0.00317,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-10",
        "end": "2025-04-18",
        "tenure": "Established",
        "return": -0.042918,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "Developing",
        "return": -0.010769,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-07-18",
        "end": "2025-08-22",
        "tenure": "Developing",
        "return": 0.024615,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-08-29",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-10-03",
        "tenure": "Developing",
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        "active": false
      },
      {
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2026-01-02",
        "tenure": "New",
        "return": 0.003311,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-02-27",
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        "active": false
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      {
        "regime": "rotation_up",
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        "return": 0.001558,
        "active": false
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      {
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        "return": 0.147887,
        "active": false
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      {
        "regime": "deceleration",
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        "active": true
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 139829.7,
        "trend": 32.305,
        "fair_value": 28.937783,
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      },
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-19",
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      },
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        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.603305,
        "energy": 17.214772,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 40.599998,
        "volume": 102753,
        "typical_volume": 562931.15,
        "trend": 35.705,
        "fair_value": 29.628776,
        "relative_strength": -18.801369,
        "stage": 1,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 35.650002,
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        "typical_volume": 566915.85,
        "trend": 35.886667,
        "fair_value": 29.698008,
        "relative_strength": -23.538771,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 18.771276,
        "energy": 12.032066,
        "activity_lines": [
          39.36,
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      },
      {
        "date": "2026-07-24",
        "close": 35.0,
        "volume": 95121,
        "typical_volume": 570565.45,
        "trend": 36.046667,
        "fair_value": 29.781496,
        "relative_strength": -25.945665,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 2.916976,
        "energy": 10.204695,
        "activity_lines": [
          37.66,
          39.675454,
          39.976428,
          38.344624
        ]
      },
      {
        "date": "2026-07-31",
        "close": 37.450001,
        "volume": 267199,
        "typical_volume": 583625.1,
        "trend": 36.288333,
        "fair_value": 29.881772,
        "relative_strength": -19.139827,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 9.06636,
        "energy": 14.105989,
        "activity_lines": [
          37.16,
          38.968182,
          39.881905,
          38.435161
        ]
      },
      {
        "date": "2026-08-07",
        "close": 36.049999,
        "volume": 186195,
        "typical_volume": 592834.55,
        "trend": 36.48,
        "fair_value": 29.969282,
        "relative_strength": -23.446068,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -13.868589,
        "energy": 18.033305,
        "activity_lines": [
          36.463333,
          38.14,
          39.629047,
          38.419785
        ]
      },
      {
        "date": "2026-08-14",
        "close": 37.549999,
        "volume": 173481,
        "typical_volume": 600115.55,
        "trend": 36.728333,
        "fair_value": 30.071282,
        "relative_strength": -22.299768,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -13.102162,
        "energy": 23.794325,
        "activity_lines": [
          36.663333,
          37.769091,
          39.501666,
          38.488817
        ]
      }
    ],
    "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."
    }
  }
}