{
  "ticker": {
    "uuid": "9df41689-2f4b-4330-90d6-c01f0979b16f",
    "symbol": "4139",
    "name": "Ma Kuang Healthcare Holding Limited",
    "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": "2c",
    "phase_label": "Stage 2C \u00b7 Late advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 66.442,
    "architecture_energy": 83.497,
    "architecture_maturity": 30.0,
    "architecture_confidence": 72.792,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 18.14,
        "rotation_up": 77.37,
        "upward_expansion": 93.56,
        "deceleration": 45.81,
        "rotation_down": 8.27,
        "downward_expansion": 20.23
      },
      "activity_lines": [
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        28.063333
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 35.099998,
    "trend_reference": 26.32,
    "distance_from_trend": 0.333587,
    "trend_direction": "Improving",
    "fair_value": 30.0125,
    "distance_from_fair_value": 0.169513,
    "fair_value_direction": "Improving",
    "relative_strength": -2.547247,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.4625,
    "excess_performance": 0.021128,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.333587,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.09469,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.169513,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.3714,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.025472,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.340756,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.4625,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.267516,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 93559,
      "relative_activity": 0.599112,
      "balance": 3.267516,
      "dry_up": 1.558879,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.106838,
      "annualized_volatility": 0.632065,
      "from_high_reference": -0.183721,
      "from_low_reference": 0.671428
    },
    "levels": {
      "trend_reference": 26.32,
      "fair_value_reference": 30.0125,
      "structural_low": 21.549999,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": -0.03375,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": -0.003208,
        "regime_survival": 0.571429,
        "best_return": 0.039419,
        "worst_return": -0.088146,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "positive_rate": 0.333333,
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        "worst_return": -0.12875,
        "sufficient": false
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      {
        "horizon": "Extended",
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        "regime_survival": 0.0,
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        "sufficient": false
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        "horizon": "Full cycle",
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        "worst_return": -0.318465,
        "sufficient": false
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      {
        "regime": "deceleration",
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      {
        "date": "2026-05-08",
        "close": 23.9,
        "volume": 32000,
        "typical_volume": 51244.4,
        "trend": 24.263333,
        "fair_value": 30.656731,
        "relative_strength": -39.564201,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -27.521542,
        "energy": 16.735241,
        "activity_lines": [
          24.073333,
          24.245454,
          24.23619,
          24.228064
        ]
      },
      {
        "date": "2026-05-15",
        "close": 24.4,
        "volume": 74000,
        "typical_volume": 51694.4,
        "trend": 24.26,
        "fair_value": 30.572115,
        "relative_strength": -36.622842,
        "stage": 4,
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        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": -1.508195,
        "energy": 9.457027,
        "activity_lines": [
          24.103333,
          24.27,
          24.243333,
          24.236882
        ]
      },
      {
        "date": "2026-05-22",
        "close": 23.75,
        "volume": 69056,
        "typical_volume": 53547.0,
        "trend": 24.21,
        "fair_value": 30.484295,
        "relative_strength": -38.972111,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -49.117773,
        "energy": 28.416676,
        "activity_lines": [
          23.963333,
          24.166364,
          24.189286,
          24.203978
        ]
      },
      {
        "date": "2026-05-29",
        "close": 22.799999,
        "volume": 81131,
        "typical_volume": 56788.4,
        "trend": 24.121667,
        "fair_value": 30.389423,
        "relative_strength": -43.693019,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -67.372449,
        "energy": 51.891252,
        "activity_lines": [
          23.583333,
          23.892727,
          24.049762,
          24.113011
        ]
      },
      {
        "date": "2026-06-05",
        "close": 22.35,
        "volume": 85000,
        "typical_volume": 57931.85,
        "trend": 24.043333,
        "fair_value": 30.292628,
        "relative_strength": -44.24648,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -71.973915,
        "energy": 63.439667,
        "activity_lines": [
          23.126666,
          23.569091,
          23.877619,
          23.99871
        ]
      },
      {
        "date": "2026-06-12",
        "close": 24.4,
        "volume": 108564,
        "typical_volume": 62010.05,
        "trend": 24.051667,
        "fair_value": 30.210256,
        "relative_strength": -36.889095,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -42.013557,
        "energy": 39.68449,
        "activity_lines": [
          23.446666,
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          23.913333,
          24.02172
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      },
      {
        "date": "2026-06-19",
        "close": 24.75,
        "volume": 78455,
        "typical_volume": 64932.55,
        "trend": 24.078333,
        "fair_value": 30.133654,
        "relative_strength": -38.162963,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -19.726568,
        "energy": 13.515362,
        "activity_lines": [
          23.85,
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          24.066774
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      },
      {
        "date": "2026-06-26",
        "close": 23.6,
        "volume": 46500,
        "typical_volume": 64857.55,
        "trend": 24.105,
        "fair_value": 30.048718,
        "relative_strength": -37.491519,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -35.477939,
        "energy": 14.673982,
        "activity_lines": [
          23.846667,
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          24.035914
        ]
      },
      {
        "date": "2026-07-03",
        "close": 24.6,
        "volume": 128102,
        "typical_volume": 68812.65,
        "trend": 24.17,
        "fair_value": 29.973077,
        "relative_strength": -36.922037,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 2.984111,
        "energy": 11.790012,
        "activity_lines": [
          24.186667,
          23.91,
          24.00119,
          24.067849
        ]
      },
      {
        "date": "2026-07-10",
        "close": 24.9,
        "volume": 180849,
        "typical_volume": 74687.8,
        "trend": 24.218333,
        "fair_value": 29.902564,
        "relative_strength": -33.103607,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 17.981921,
        "energy": 19.424673,
        "activity_lines": [
          24.506667,
          24.104545,
          24.082619,
          24.114946
        ]
      },
      {
        "date": "2026-07-17",
        "close": 38.0,
        "volume": 908790,
        "typical_volume": 116427.3,
        "trend": 24.668333,
        "fair_value": 29.91891,
        "relative_strength": 9.359991,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 94.831767,
        "energy": 91.82982,
        "activity_lines": [
          29.023333,
          26.66,
          25.40619,
          25.004086
        ]
      },
      {
        "date": "2026-07-24",
        "close": 39.599998,
        "volume": 632082,
        "typical_volume": 146181.35,
        "trend": 25.17,
        "fair_value": 29.950641,
        "relative_strength": 12.143171,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 95.386232,
        "energy": 97.730567,
        "activity_lines": [
          33.166666,
          29.25,
          26.814762,
          25.967419
        ]
      },
      {
        "date": "2026-07-31",
        "close": 38.0,
        "volume": 152010,
        "typical_volume": 151230.2,
        "trend": 25.61,
        "fair_value": 29.980449,
        "relative_strength": 9.854058,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 81.888327,
        "energy": 93.239779,
        "activity_lines": [
          35.786666,
          31.272727,
          27.995952,
          26.795161
        ]
      },
      {
        "date": "2026-08-07",
        "close": 36.150002,
        "volume": 96105,
        "typical_volume": 153834.9,
        "trend": 25.983333,
        "fair_value": 30.0,
        "relative_strength": 2.912664,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.237011,
        "energy": 88.509189,
        "activity_lines": [
          36.83,
          32.7,
          28.933809,
          27.475161
        ]
      },
      {
        "date": "2026-08-14",
        "close": 35.099998,
        "volume": 93559,
        "typical_volume": 156162.85,
        "trend": 26.32,
        "fair_value": 30.0125,
        "relative_strength": -2.547247,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.441501,
        "energy": 83.497174,
        "activity_lines": [
          36.753333,
          33.693636,
          29.716428,
          28.063333
        ]
      }
    ],
    "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."
    }
  }
}