{ "ticker": { "uuid": "ba7493cb-5256-48dc-8d11-d7561fb1e428", "symbol": "600009", "name": "Shanghai International Airport 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": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Established contraction", "architecture_gate": "down", "architecture_direction": -42.443, "architecture_energy": 30.987, "architecture_maturity": 100.0, "architecture_confidence": 80.845, "architecture_tenure": "Established", "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": 25.99, "rotation_up": 27.87, "upward_expansion": 22.64, "deceleration": 47.0, "rotation_down": 30.37, "downward_expansion": 61.31 }, "activity_lines": [ 23.942667, 23.616925, 24.215646, 25.273538 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 23.860001, "trend_reference": 26.914566, "distance_from_trend": -0.113491, "trend_direction": "Weakening", "fair_value": 32.467045, "distance_from_fair_value": -0.265101, "fair_value_direction": "Weakening", "relative_strength": -17.625007, "relative_strength_direction": "Improving", "price_momentum": -0.225325, "excess_performance": -0.182121, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.113491, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.100437, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.265101, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.0471, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.17625, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.035342, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.225325, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.677697, "read": "Supply-led" } ], "volume": { "latest": 62912387, "relative_activity": 1.437813, "balance": 0.677697, "dry_up": 1.599161, "accumulation_observations": 3, "distribution_observations": 5 }, "risk": { "range_context": 0.049575, "annualized_volatility": 0.165038, "from_high_reference": -0.316724, "from_low_reference": 0.075259 }, "levels": { "trend_reference": 26.914566, "fair_value_reference": 32.467045, 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"activity_lines": [ 23.343925, 23.36801, 24.435474, 25.671762 ] }, { "date": "2026-07-31", "close": 24.68, "volume": 67915611, "typical_volume": 42809683.9, "trend": 27.211232, "fair_value": 32.593326, "relative_strength": -13.04142, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -48.007654, "energy": 41.541837, "activity_lines": [ 23.838, 23.564864, 24.353679, 25.489747 ] }, { "date": "2026-08-07", "close": 23.860001, "volume": 62912387, "typical_volume": 43755599.9, "trend": 26.914566, "fair_value": 32.467045, "relative_strength": -17.625007, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -42.442517, "energy": 30.987264, "activity_lines": [ 23.942667, 23.616925, 24.215646, 25.273538 ] } ], "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." } } }