{
  "ticker": {
    "uuid": "940b6d58-8d75-49c4-9f93-f30802ad83a7",
    "symbol": "6780",
    "name": "Study King 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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 78.252,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 59.167,
    "architecture_energy": 46.017,
    "architecture_maturity": 48.159,
    "architecture_confidence": 67.654,
    "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": 22.79,
        "rotation_up": 45.82,
        "upward_expansion": 76.4,
        "deceleration": 60.54,
        "rotation_down": 29.21,
        "downward_expansion": 12.06
      },
      "activity_lines": [
        40.456667,
        40.379091,
        39.940682,
        37.950182
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 40.5,
    "trend_reference": 35.290666,
    "distance_from_trend": 0.147612,
    "trend_direction": "Improving",
    "fair_value": 21.340184,
    "distance_from_fair_value": 0.897828,
    "fair_value_direction": "Weakening",
    "relative_strength": -7.14636,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.408364,
    "excess_performance": -0.033008,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.147612,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.108989,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.897828,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.130139,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.071464,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.105577,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.408364,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.059772,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 14000,
      "relative_activity": 0.332244,
      "balance": 2.059772,
      "dry_up": 1.514085,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.044634,
      "annualized_volatility": 0.393616,
      "from_high_reference": -0.05041,
      "from_low_reference": 0.740086
    },
    "levels": {
      "trend_reference": 35.290666,
      "fair_value_reference": 21.340184,
      "structural_low": 27.169853,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 5,
        "median_return": 0.0125,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.042757,
        "regime_survival": 0.6,
        "best_return": 0.331081,
        "worst_return": -0.136086,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.395653,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.225324,
        "regime_survival": 0.0,
        "best_return": 0.408364,
        "worst_return": 0.382942,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.565164,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.25242,
        "regime_survival": 0.5,
        "best_return": 0.721964,
        "worst_return": 0.408364,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": 0.913293,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": 0.405512,
        "regime_survival": 0.0,
        "best_return": 0.913293,
        "worst_return": 0.913293,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-08-16",
        "tenure": "Developing",
        "return": -0.164634,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-08-23",
        "end": "2024-12-27",
        "tenure": "Established",
        "return": 0.082734,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-03",
        "end": "2025-01-10",
        "tenure": "New",
        "return": 0.003345,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-02-14",
        "tenure": "New",
        "return": 0.118644,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-21",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": -0.146067,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-03-28",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.114409,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-01-30",
        "tenure": "Extended",
        "return": 0.439394,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2026-03-13",
        "tenure": "Developing",
        "return": 0.093646,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-03-27",
        "tenure": "New",
        "return": -0.04968,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2026-04-10",
        "tenure": "New",
        "return": -0.008772,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "start": "2026-04-17",
        "end": "2026-04-17",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "active": false
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      {
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        "return": -0.020808,
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        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "up",
        "direction": 68.730467,
        "energy": 34.964964,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
        "close": 35.0,
        "volume": 32715,
        "typical_volume": 14428.2,
        "trend": 29.434515,
        "fair_value": 19.781099,
        "relative_strength": -4.544726,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 17462.3,
        "trend": 29.919372,
        "fair_value": 19.87836,
        "relative_strength": 3.684897,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 40.5,
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        "typical_volume": 21966.85,
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        "fair_value": 19.970736,
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 23531.85,
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        "relative_strength": 1.894088,
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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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        "typical_volume": 28500.8,
        "trend": 32.605573,
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        "relative_strength": -7.046235,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 20.571244,
        "relative_strength": -5.919666,
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      },
      {
        "date": "2026-07-03",
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        "volume": 30880,
        "typical_volume": 29794.75,
        "trend": 33.307225,
        "fair_value": 20.668255,
        "relative_strength": -11.31743,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 52.177432,
        "energy": 51.630754,
        "activity_lines": [
          40.503333,
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          37.629874,
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      },
      {
        "date": "2026-07-10",
        "close": 40.0,
        "volume": 5033,
        "typical_volume": 29596.4,
        "trend": 33.632309,
        "fair_value": 20.766522,
        "relative_strength": -8.12802,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 48.811897,
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        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 32600,
        "typical_volume": 30621.4,
        "trend": 33.971818,
        "fair_value": 20.868016,
        "relative_strength": -2.245163,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 45.936822,
        "energy": 37.863237,
        "activity_lines": [
          40.106666,
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          38.528145,
          36.401929
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      },
      {
        "date": "2026-07-24",
        "close": 40.5,
        "volume": 85000,
        "typical_volume": 34220.75,
        "trend": 34.329598,
        "fair_value": 20.979757,
        "relative_strength": -3.121839,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.902566,
        "energy": 38.993205,
        "activity_lines": [
          40.166666,
          40.423636,
          38.953522,
          36.823102
        ]
      },
      {
        "date": "2026-07-31",
        "close": 40.450001,
        "volume": 89400,
        "typical_volume": 38590.5,
        "trend": 34.685711,
        "fair_value": 21.097925,
        "relative_strength": -1.958799,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.377297,
        "energy": 37.935405,
        "activity_lines": [
          40.273334,
          40.389091,
          39.324629,
          37.217966
        ]
      },
      {
        "date": "2026-08-07",
        "close": 40.5,
        "volume": 66800,
        "typical_volume": 41628.45,
        "trend": 34.964946,
        "fair_value": 21.216121,
        "relative_strength": -4.060407,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 58.791409,
        "energy": 45.399145,
        "activity_lines": [
          40.386667,
          40.374545,
          39.657639,
          37.593082
        ]
      },
      {
        "date": "2026-08-14",
        "close": 40.5,
        "volume": 14000,
        "typical_volume": 42137.65,
        "trend": 35.290666,
        "fair_value": 21.340184,
        "relative_strength": -7.14636,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 59.166532,
        "energy": 46.017373,
        "activity_lines": [
          40.456667,
          40.379091,
          39.940682,
          37.950182
        ]
      }
    ],
    "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."
    }
  }
}