{
  "ticker": {
    "uuid": "adc150c8-6893-40f7-9306-d21b34c2e715",
    "symbol": "6165",
    "name": "Lang Inc.",
    "exchange": "TAI",
    "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": "2026-08-21",
    "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": 62.012,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 15.728,
    "architecture_energy": 7.268,
    "architecture_maturity": 37.866,
    "architecture_confidence": 47.299,
    "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": 67.29,
        "rotation_up": 32.26,
        "upward_expansion": 50.94,
        "deceleration": 75.12,
        "rotation_down": 22.33,
        "downward_expansion": 24.28
      },
      "activity_lines": [
        48.996666,
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        49.170952,
        48.713548
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 48.099998,
    "trend_reference": 47.63,
    "distance_from_trend": 0.009868,
    "trend_direction": "Improving",
    "fair_value": 44.51934,
    "distance_from_fair_value": 0.080429,
    "fair_value_direction": "Weakening",
    "relative_strength": -29.537744,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.095672,
    "excess_performance": -0.25006,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.009868,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.010109,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.080429,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.06707,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.295377,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.070228,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.095672,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.578674,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1730400,
      "relative_activity": 0.447136,
      "balance": 0.578674,
      "dry_up": 1.016609,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.054934,
      "annualized_volatility": 0.326439,
      "from_high_reference": -0.216612,
      "from_low_reference": 0.217721
    },
    "levels": {
      "trend_reference": 47.63,
      "fair_value_reference": 44.51934,
      "structural_low": 39.5,
      "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": 17,
        "median_return": 0.00998,
        "positive_rate": 0.588235,
        "directional_follow_through": 0.588235,
        "median_excess_return": -0.01121,
        "regime_survival": 0.647059,
        "best_return": 0.13093,
        "worst_return": -0.142617,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.017777,
        "positive_rate": 1.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.04636,
        "regime_survival": 0.0,
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        "worst_return": 0.014084,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.095775,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.110004,
        "regime_survival": 0.2,
        "best_return": 0.280624,
        "worst_return": -0.125031,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.173559,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.147434,
        "regime_survival": 0.333333,
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        "worst_return": -0.070288,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-07-26",
        "tenure": "New",
        "return": -0.098214,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-08-02",
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        "tenure": "Developing",
        "return": 0.169889,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "violet",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "return": 0.095768,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "active": false
      },
      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "active": false
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      {
        "regime": "upward_expansion",
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      {
        "regime": "balance",
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      {
        "regime": "downward_expansion",
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      {
        "regime": "rotation_up",
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      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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        "fair_value": 42.962467,
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        "modifier": "Value reclamation",
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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "typical_volume": 3499583.3,
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        "energy": 18.189304,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "modifier": "Recompressing",
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 3538238.75,
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        "fair_value": 43.532656,
        "relative_strength": -39.264899,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 3534726.75,
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "modifier": "Recompressing",
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        "energy": 17.087844,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 49.5,
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        "typical_volume": 3555950.5,
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        "stage": 3,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 3711213.75,
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        "fair_value": 44.077163,
        "relative_strength": -28.356219,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
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        "direction": 51.626403,
        "energy": 32.263018,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
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        "volume": 7827064,
        "typical_volume": 3871363.6,
        "trend": 47.355,
        "fair_value": 44.185681,
        "relative_strength": -28.535406,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 37.377913,
        "energy": 25.017133,
        "activity_lines": [
          49.356666,
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      },
      {
        "date": "2026-08-07",
        "close": 50.599998,
        "volume": 4492310,
        "typical_volume": 3854653.7,
        "trend": 47.47,
        "fair_value": 44.303888,
        "relative_strength": -26.388178,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 57.438912,
        "energy": 35.941495,
        "activity_lines": [
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      },
      {
        "date": "2026-08-14",
        "close": 48.900002,
        "volume": 1687199,
        "typical_volume": 3840541.95,
        "trend": 47.541666,
        "fair_value": 44.411825,
        "relative_strength": -30.373859,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.492015,
        "energy": 23.523066,
        "activity_lines": [
          49.463333,
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        ]
      },
      {
        "date": "2026-08-21",
        "close": 48.099998,
        "volume": 1730400,
        "typical_volume": 3869966.45,
        "trend": 47.63,
        "fair_value": 44.51934,
        "relative_strength": -29.537744,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 15.728385,
        "energy": 7.268074,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}