{
  "ticker": {
    "uuid": "81fcb20c-e80b-4f3d-a371-64f34405f4e3",
    "symbol": "8921",
    "name": "Shen's Art Printing 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": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 57.143,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": -19.329,
    "architecture_energy": 20.999,
    "architecture_maturity": 45.132,
    "architecture_confidence": 67.197,
    "architecture_tenure": "Established",
    "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": 55.38,
        "rotation_up": 22.98,
        "upward_expansion": 11.07,
        "deceleration": 49.9,
        "rotation_down": 43.38,
        "downward_expansion": 48.07
      },
      "activity_lines": [
        17.453333,
        17.566527,
        17.703592,
        17.673427
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 17.450001,
    "trend_reference": 17.700554,
    "distance_from_trend": -0.014155,
    "trend_direction": "Improving",
    "fair_value": 18.212872,
    "distance_from_fair_value": -0.041886,
    "fair_value_direction": "Weakening",
    "relative_strength": -28.755374,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.037608,
    "excess_performance": -0.47898,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.014155,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.012719,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.041886,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.022425,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.287554,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.035974,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.037608,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.850238,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 8000,
      "relative_activity": 0.366187,
      "balance": 0.850238,
      "dry_up": 0.492064,
      "accumulation_observations": 0,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.046507,
      "annualized_volatility": 0.215331,
      "from_high_reference": -0.09653,
      "from_low_reference": 0.093087
    },
    "levels": {
      "trend_reference": 17.700554,
      "fair_value_reference": 18.212872,
      "structural_low": 16.062511,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 19,
        "median_return": 0.003413,
        "positive_rate": 0.526316,
        "directional_follow_through": 0.526316,
        "median_excess_return": -0.034359,
        "regime_survival": 0.631579,
        "best_return": 0.283702,
        "worst_return": -0.05298,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 9,
        "median_return": 0.020979,
        "positive_rate": 0.555556,
        "directional_follow_through": 0.555556,
        "median_excess_return": -0.128584,
        "regime_survival": 0.444444,
        "best_return": 0.366438,
        "worst_return": -0.269618,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.010279,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.13193,
        "regime_survival": 0.5,
        "best_return": 0.395105,
        "worst_return": -0.297222,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.028284,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.005006,
        "regime_survival": 0.25,
        "best_return": 0.911572,
        "worst_return": -0.299259,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-03-01",
        "end": "2024-03-22",
        "tenure": "New",
        "return": 0.042857,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-29",
        "end": "2024-08-09",
        "tenure": "Established",
        "return": 0.350654,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-16",
        "end": "2024-09-06",
        "tenure": "New",
        "return": 0.047739,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-09-13",
        "end": "2024-10-25",
        "tenure": "Developing",
        "return": 0.086539,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-01",
        "end": "2024-11-15",
        "tenure": "New",
        "return": 0.040685,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-22",
        "end": "2025-02-28",
        "tenure": "Established",
        "return": 0.024691,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-07",
        "end": "2025-03-28",
        "tenure": "New",
        "return": 0.275654,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-04-04",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.103448,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-18",
        "end": "2025-05-16",
        "tenure": "Developing",
        "return": -0.10758,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-05-23",
        "end": "2025-12-12",
        "tenure": "Extended",
        "return": -0.056557,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-19",
        "end": "2026-01-09",
        "tenure": "New",
        "return": 0.064328,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-01-16",
        "end": "2026-01-30",
        "tenure": "New",
        "return": -0.010929,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": -0.065217,
        "active": false
      },
      {
        "regime": "balance",
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        "color": "blue",
        "start": "2026-03-20",
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        "tenure": "Established",
        "return": 0.029535,
        "active": true
      }
    ],
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        "date": "2023-08-11",
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      {
        "date": "2026-05-01",
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        "modifier": "Upper balance after advance",
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        "date": "2026-05-15",
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        "relative_strength": -30.89164,
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        "modifier": "Upper balance after advance",
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        "activity_lines": [
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        "typical_volume": 32734.55,
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        "relative_strength": -33.667463,
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      },
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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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        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": -33.236456,
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        "energy": 17.339595,
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      {
        "date": "2026-07-10",
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        "relative_strength": -30.994744,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
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        "energy": 14.172522,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 25196.75,
        "trend": 17.682957,
        "fair_value": 18.118635,
        "relative_strength": -28.6306,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -5.814231,
        "energy": 7.194785,
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      },
      {
        "date": "2026-07-24",
        "close": 17.65,
        "volume": 10000,
        "typical_volume": 21496.75,
        "trend": 17.709595,
        "fair_value": 18.14265,
        "relative_strength": -27.147685,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -4.172922,
        "energy": 8.46602,
        "activity_lines": [
          17.598988,
          17.736908,
          17.761132,
          17.721881
        ]
      },
      {
        "date": "2026-07-31",
        "close": 17.65,
        "volume": 6000,
        "typical_volume": 20946.75,
        "trend": 17.724737,
        "fair_value": 18.166007,
        "relative_strength": -25.360588,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -14.066549,
        "energy": 12.936772,
        "activity_lines": [
          17.583333,
          17.70137,
          17.762193,
          17.718036
        ]
      },
      {
        "date": "2026-08-07",
        "close": 17.299999,
        "volume": 19000,
        "typical_volume": 21896.75,
        "trend": 17.716715,
        "fair_value": 18.189265,
        "relative_strength": -27.754612,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -23.163309,
        "energy": 25.368027,
        "activity_lines": [
          17.47,
          17.611853,
          17.726585,
          17.690634
        ]
      },
      {
        "date": "2026-08-14",
        "close": 17.450001,
        "volume": 8000,
        "typical_volume": 21846.75,
        "trend": 17.700554,
        "fair_value": 18.212872,
        "relative_strength": -28.755374,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -19.32899,
        "energy": 20.999273,
        "activity_lines": [
          17.453333,
          17.566527,
          17.703592,
          17.673427
        ]
      }
    ],
    "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."
    }
  }
}