{
  "ticker": {
    "uuid": "ba1b4f9b-548c-472e-8c2e-5308d6aad71d",
    "symbol": "600995",
    "name": "China Southern Power Grid Energy Storage 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": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 51.708,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -45.268,
    "architecture_energy": 31.96,
    "architecture_maturity": 39.113,
    "architecture_confidence": 54.282,
    "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": 33.87,
        "rotation_up": 22.57,
        "upward_expansion": 15.41,
        "deceleration": 65.98,
        "rotation_down": 42.64,
        "downward_expansion": 65.41
      },
      "activity_lines": [
        12.565333,
        12.519091,
        13.16514,
        13.502029
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 12.64,
    "trend_reference": 13.75782,
    "distance_from_trend": -0.08125,
    "trend_direction": "Improving",
    "fair_value": 10.73994,
    "distance_from_fair_value": 0.176915,
    "fair_value_direction": "Weakening",
    "relative_strength": -1.870421,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.059453,
    "excess_performance": -0.01625,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.08125,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.002879,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.176915,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.212823,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.018704,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.136614,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.059453,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.593519,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 71028735,
      "relative_activity": 0.648963,
      "balance": 0.593519,
      "dry_up": 0.853842,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.086317,
      "annualized_volatility": 0.391403,
      "from_high_reference": -0.250329,
      "from_low_reference": 0.278499
    },
    "levels": {
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      "fair_value_reference": 10.73994,
      "structural_low": 11.47,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 18,
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        "positive_rate": 0.555556,
        "directional_follow_through": 0.444444,
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        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
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        "horizon": "Extended",
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      {
        "horizon": "Full cycle",
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": -6.285719,
        "stage": 3,
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      },
      {
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        "fair_value": 10.697089,
        "relative_strength": -7.342207,
        "stage": 3,
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 131707006.6,
        "trend": 13.748042,
        "fair_value": 10.704559,
        "relative_strength": -3.037878,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -72.109127,
        "energy": 80.82452,
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          12.05,
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      },
      {
        "date": "2026-07-24",
        "close": 12.72,
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        "typical_volume": 128519655.85,
        "trend": 13.752838,
        "fair_value": 10.715872,
        "relative_strength": 2.568522,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -63.181047,
        "energy": 67.449682,
        "activity_lines": [
          12.227333,
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      },
      {
        "date": "2026-07-31",
        "close": 12.87,
        "volume": 81845600,
        "typical_volume": 115725602.8,
        "trend": 13.752054,
        "fair_value": 10.72796,
        "relative_strength": 2.969295,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -58.66691,
        "energy": 42.726925,
        "activity_lines": [
          12.462,
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      },
      {
        "date": "2026-08-07",
        "close": 12.64,
        "volume": 71028735,
        "typical_volume": 109449636.05,
        "trend": 13.75782,
        "fair_value": 10.73994,
        "relative_strength": -1.870421,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -45.268309,
        "energy": 31.959584,
        "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."
    }
  }
}