{
  "ticker": {
    "uuid": "b8ca96cc-13fc-469f-9ab2-e9aa6187104c",
    "symbol": "4554",
    "name": "Orange Electronic 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 66.647,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 46.644,
    "architecture_energy": 23.311,
    "architecture_maturity": 30.423,
    "architecture_confidence": 76.32,
    "architecture_tenure": "New",
    "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": 46.27,
        "rotation_up": 34.33,
        "upward_expansion": 58.09,
        "deceleration": 88.55,
        "rotation_down": 22.11,
        "downward_expansion": 12.75
      },
      "activity_lines": [
        30.99,
        30.991818,
        30.787143,
        30.256022
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 31.9,
    "trend_reference": 29.415,
    "distance_from_trend": 0.084481,
    "trend_direction": "Improving",
    "fair_value": 27.324032,
    "distance_from_fair_value": 0.16747,
    "fair_value_direction": "Improving",
    "relative_strength": -23.192827,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.188082,
    "excess_performance": -0.25329,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.084481,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033435,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.16747,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.038079,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.231928,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.115692,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.188082,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.83536,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 331384,
      "relative_activity": 0.908358,
      "balance": 1.83536,
      "dry_up": 0.539884,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.055823,
      "annualized_volatility": 0.252721,
      "from_high_reference": -0.078035,
      "from_low_reference": 0.304703
    },
    "levels": {
      "trend_reference": 29.415,
      "fair_value_reference": 27.324032,
      "structural_low": 24.450001,
      "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": 12,
        "median_return": 0.004668,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.002454,
        "regime_survival": 0.416667,
        "best_return": 0.187809,
        "worst_return": -0.050435,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.021673,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.031437,
        "regime_survival": 0.333333,
        "best_return": 0.237062,
        "worst_return": -0.100826,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.020625,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.084028,
        "regime_survival": 0.0,
        "best_return": 0.220758,
        "worst_return": -0.188811,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.06003,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.242856,
        "regime_survival": 0.0,
        "best_return": 0.108896,
        "worst_return": -0.069518,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-10",
        "end": "2025-02-28",
        "tenure": "Developing",
        "return": 0.043166,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-07",
        "end": "2025-03-21",
        "tenure": "New",
        "return": 0.109756,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-03-28",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.096721,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-18",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.00335,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-16",
        "end": "2025-06-27",
        "tenure": "Developing",
        "return": -0.127485,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-04",
        "end": "2025-07-18",
        "tenure": "New",
        "return": 0.117493,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-08-15",
        "tenure": "New",
        "return": -0.151291,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-22",
        "end": "2025-10-31",
        "tenure": "Developing",
        "return": -0.071348,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-07",
        "end": "2026-04-10",
        "tenure": "Established",
        "return": 0.024735,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-04-17",
        "end": "2026-05-22",
        "tenure": "Developing",
        "return": 0.063545,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-06-19",
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        "return": -0.00659,
        "active": false
      },
      {
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        "return": 0.027157,
        "active": false
      },
      {
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        "return": -0.032051,
        "active": false
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      {
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        "return": 0.04419,
        "active": true
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      },
      {
        "date": "2026-05-01",
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        "trend": 28.478333,
        "fair_value": 26.631038,
        "relative_strength": -32.759244,
        "stage": 1,
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 326457.3,
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      },
      {
        "date": "2026-05-22",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 360582.75,
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        "stage": 1,
        "regime": "upward_expansion",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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        "trend": 28.516667,
        "fair_value": 26.863368,
        "relative_strength": -35.261999,
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      },
      {
        "date": "2026-06-19",
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        "typical_volume": 360180.65,
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        "stage": 1,
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      },
      {
        "date": "2026-06-26",
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        "stage": 3,
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 27.001593,
        "relative_strength": -31.149247,
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        "modifier": "Momentum cooling",
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        "energy": 46.583237,
        "activity_lines": [
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      },
      {
        "date": "2026-07-10",
        "close": 31.200001,
        "volume": 226319,
        "typical_volume": 394206.25,
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        "fair_value": 27.053857,
        "relative_strength": -30.005167,
        "stage": 3,
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-17",
        "close": 30.549999,
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        "typical_volume": 408783.1,
        "trend": 28.921667,
        "fair_value": 27.10483,
        "relative_strength": -26.006089,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 52.747533,
        "energy": 37.591265,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 31.0,
        "volume": 194100,
        "typical_volume": 412633.2,
        "trend": 29.045,
        "fair_value": 27.158165,
        "relative_strength": -25.282668,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 50.687843,
        "energy": 33.651834,
        "activity_lines": [
          31.093333,
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          30.598333,
          29.920108
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      },
      {
        "date": "2026-07-31",
        "close": 30.200001,
        "volume": 168562,
        "typical_volume": 412678.85,
        "trend": 29.143333,
        "fair_value": 27.208986,
        "relative_strength": -25.059899,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 35.273153,
        "energy": 18.41622,
        "activity_lines": [
          30.746667,
          30.811818,
          30.613572,
          29.994624
        ]
      },
      {
        "date": "2026-08-07",
        "close": 30.549999,
        "volume": 93789,
        "typical_volume": 360319.3,
        "trend": 29.255,
        "fair_value": 27.263359,
        "relative_strength": -24.78063,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 31.20471,
        "energy": 15.006848,
        "activity_lines": [
          30.59,
          30.780909,
          30.639524,
          30.085376
        ]
      },
      {
        "date": "2026-08-14",
        "close": 31.9,
        "volume": 331384,
        "typical_volume": 364816.5,
        "trend": 29.415,
        "fair_value": 27.324032,
        "relative_strength": -23.192827,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.644156,
        "energy": 23.311398,
        "activity_lines": [
          30.99,
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          30.787143,
          30.256022
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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."
    }
  }
}