{ "ticker": { "uuid": "b01222d1-2e1a-413f-b6ba-3e7a13d7707f", "symbol": "600938", "name": "CNOOC Limited", "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": 3, "stage_name": "Distribution", "phase": "3a", "phase_label": "Stage 3A \u00b7 Churning", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 49.177, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -40.957, "architecture_energy": 28.549, "architecture_maturity": 68.38, "architecture_confidence": 72.236, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding downward.", "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation." }, "scores": { "balance": 33.71, "rotation_up": 28.68, "upward_expansion": 18.4, "deceleration": 46.98, "rotation_down": 27.32, "downward_expansion": 66.07 }, "activity_lines": [ 31.167333, 30.274111, 32.076886, 33.600895 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 31.33, "trend_reference": 34.5138, "distance_from_trend": -0.092247, "trend_direction": "Improving", "fair_value": 26.379662, "distance_from_fair_value": 0.187657, "fair_value_direction": "Weakening", "relative_strength": 0.959082, "relative_strength_direction": "Weakening", "price_momentum": -0.117962, "excess_performance": -0.074758, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.092247, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.019108, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.187657, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.261434, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.009591, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.117646, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.117962, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.673446, "read": "Demand-led" } ], "volume": { "latest": 241005959, "relative_activity": 1.028235, "balance": 1.673446, "dry_up": 1.445454, "accumulation_observations": 4, "distribution_observations": 1 }, "risk": { "range_context": 0.073327, "annualized_volatility": 0.37725, "from_high_reference": -0.296587, "from_low_reference": 0.264882 }, "levels": { "trend_reference": 34.5138, "fair_value_reference": 26.379662, "structural_low": 26.406356, 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"direction": -68.100684, "energy": 87.788027, "activity_lines": [ 28.2076, 29.89033, 33.00161, 34.086426 ] }, { "date": "2026-07-24", "close": 31.91, "volume": 472781410, "typical_volume": 268943359.1, "trend": 34.3438, "fair_value": 26.187593, "relative_strength": 6.793794, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -64.132088, "energy": 60.982387, "activity_lines": [ 29.415494, 29.954803, 32.657972, 33.938267 ] }, { "date": "2026-07-31", "close": 32.259998, "volume": 316062920, "typical_volume": 246300112.5, "trend": 34.475466, "fair_value": 26.285495, "relative_strength": 7.101494, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -47.647201, "energy": 38.694411, "activity_lines": [ 30.624822, 30.166548, 32.388524, 33.803828 ] }, { "date": "2026-08-07", "close": 31.33, "volume": 241005959, "typical_volume": 234388024.85, "trend": 34.5138, "fair_value": 26.379662, "relative_strength": 0.959082, "stage": 3, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.956547, "energy": 28.548522, "activity_lines": [ 31.167333, 30.274111, 32.076886, 33.600895 ] } ], "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." } } }