{ "ticker": { "uuid": "a31b0dd1-0fcb-42c6-adc3-b9e126e87e2f", "symbol": "600276", "name": "Jiangsu Hengrui Pharmaceuticals Co.,Ltd", "exchange": "SHH", "country": "CN", "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": "2026-08-07", "benchmark": "000001.SS", "stage": 4, "stage_name": "Declining", "phase": "4b", "phase_label": "Stage 4B \u00b7 Declining", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 83.367, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": -2.131, "architecture_energy": 11.744, "architecture_maturity": 12.921, "architecture_confidence": 70.391, "architecture_tenure": "New", "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": 58.44, "rotation_up": 39.95, "upward_expansion": 37.18, "deceleration": 35.75, "rotation_down": 16.9, "downward_expansion": 40.85 }, "activity_lines": [ 54.126667, 53.156364, 52.482703, 53.150462 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.666667 }, "latest_close": 54.619999, "trend_reference": 54.564951, "distance_from_trend": 0.001009, "trend_direction": "Weakening", "fair_value": 49.986533, "distance_from_fair_value": 0.092694, "fair_value_direction": "Improving", "relative_strength": -6.655978, "relative_strength_direction": "Improving", "price_momentum": -0.057033, "excess_performance": -0.01383, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.001009, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.055333, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.092694, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.031655, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.06656, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.126323, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.057033, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.460099, "read": "Demand-led" } ], "volume": { "latest": 433503895, "relative_activity": 1.308848, "balance": 1.460099, "dry_up": 1.36229, "accumulation_observations": 4, "distribution_observations": 3 }, "risk": { "range_context": 0.070005, "annualized_volatility": 0.244912, "from_high_reference": -0.25928, "from_low_reference": 0.17311 }, "levels": { "trend_reference": 54.564951, "fair_value_reference": 49.986533, "structural_low": 46.560001, "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": 17, "median_return": -0.01016, "positive_rate": 0.470588, "directional_follow_through": 0.470588, "median_excess_return": 0.010066, "regime_survival": 0.411765, "best_return": 0.190883, "worst_return": -0.121972, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 9, "median_return": 0.071964, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": 0.06881, "regime_survival": 0.444444, "best_return": 0.213941, "worst_return": -0.228506, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.019479, "positive_rate": 0.6, "directional_follow_through": 0.6, "median_excess_return": 0.123883, "regime_survival": 0.0, "best_return": 0.359544, "worst_return": -0.427198, "sufficient": true 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15.596136, "activity_lines": [ 52.526, 51.16129, 52.186643, 53.474675 ] }, { "date": "2026-07-17", "close": 53.189999, "volume": 622018272, "typical_volume": 304858266.1, "trend": 55.184694, "fair_value": 49.844942, "relative_strength": -5.749694, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -23.986152, "energy": 22.63269, "activity_lines": [ 53.203999, 51.565458, 52.182569, 53.324839 ] }, { "date": "2026-07-24", "close": 53.450001, "volume": 446208265, "typical_volume": 312523887.4, "trend": 54.946273, "fair_value": 49.881267, "relative_strength": -6.225638, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -18.520873, "energy": 24.104428, "activity_lines": [ 53.655333, 52.005906, 52.21821, 53.212924 ] }, { "date": "2026-07-31", "close": 54.080002, "volume": 303086610, "typical_volume": 319018451.55, "trend": 54.72188, "fair_value": 49.927137, "relative_strength": -5.382649, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -5.210001, "energy": 17.307776, "activity_lines": [ 53.981334, 52.566728, 52.322823, 53.157035 ] }, { "date": "2026-08-07", "close": 54.619999, "volume": 433503895, "typical_volume": 331210160.55, "trend": 54.564951, "fair_value": 49.986533, "relative_strength": -6.655978, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -2.130907, "energy": 11.743864, "activity_lines": [ 54.126667, 53.156364, 52.482703, 53.150462 ] } ], "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." } } }