{ "ticker": { "uuid": "bc17d712-ec38-4bda-b5c1-98eacc45e566", "symbol": "600198", "name": "Datang Telecom Technology 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": "4a", "phase_label": "Stage 4A \u00b7 Breakdown", "transition": "stage_4_declining", "transition_label": "Stage 4 decline intact", "confidence": 96.0, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -63.643, "architecture_energy": 76.46, "architecture_maturity": 20.778, "architecture_confidence": 80.687, "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": 16.39, "rotation_up": 8.23, "upward_expansion": 17.28, "deceleration": 37.03, "rotation_down": 75.38, "downward_expansion": 90.62 }, "activity_lines": [ 7.071333, 7.732727, 8.172, 8.382344 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": -0.666667 }, "latest_close": 7.2, "trend_reference": 8.831333, "distance_from_trend": -0.184721, "trend_direction": "Weakening", "fair_value": 7.790769, "distance_from_fair_value": -0.075829, "fair_value_direction": "Weakening", "relative_strength": -16.988376, "relative_strength_direction": "Weakening", "price_momentum": -0.25078, "excess_performance": -0.207577, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.184721, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.018922, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.075829, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.230041, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.169884, "read": "Lagging" }, { "label": "Relative strength direction", "positive": false, "value": -0.092904, "read": "Weakening" }, { "label": "Price momentum", "positive": false, "value": -0.25078, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.895962, "read": "Supply-led" } ], "volume": { "latest": 89897750, "relative_activity": 0.67182, "balance": 0.895962, "dry_up": 0.80404, "accumulation_observations": 1, "distribution_observations": 5 }, "risk": { "range_context": 0.134081, "annualized_volatility": 0.46728, "from_high_reference": -0.423077, "from_low_reference": 0.112828 }, "levels": { "trend_reference": 8.831333, "fair_value_reference": 7.790769, "structural_low": 6.47, "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired." }, "outcomes": [ { "horizon": "Near term", "sample_count": 24, "median_return": 0.009163, "positive_rate": 0.583333, "directional_follow_through": 0.416667, "median_excess_return": -0.015219, "regime_survival": 0.791667, "best_return": 0.578431, "worst_return": -0.132331, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": -0.032161, "positive_rate": 0.375, "directional_follow_through": 0.625, "median_excess_return": -0.018287, "regime_survival": 0.375, "best_return": 1.153696, "worst_return": -0.114202, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": -0.001476, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.053903, "regime_survival": 0.5, "best_return": 0.773622, "worst_return": -0.206738, "sufficient": true }, { "horizon": "Full cycle", 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144568800, "typical_volume": 134254512.6, "trend": 9.078667, "fair_value": 7.784936, "relative_strength": -18.700139, "stage": 4, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -68.872166, "energy": 49.097741, "activity_lines": [ 8.234667, 8.574, 8.610905, 8.777441 ] }, { "date": "2026-07-24", "close": 6.65, "volume": 100691747, "typical_volume": 132838074.95, "trend": 8.992333, "fair_value": 7.784615, "relative_strength": -21.568277, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -75.80465, "energy": 71.939843, "activity_lines": [ 7.58, 8.195455, 8.425, 8.620753 ] }, { "date": "2026-07-31", "close": 7.01, "volume": 95202989, "typical_volume": 132852050.1, "trend": 8.913, "fair_value": 7.785897, "relative_strength": -17.302666, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -66.814275, "energy": 76.454594, "activity_lines": [ 7.202667, 7.930727, 8.285238, 8.49286 ] }, { "date": "2026-08-07", "close": 7.2, "volume": 89897750, "typical_volume": 133812205.05, "trend": 8.831333, "fair_value": 7.790769, "relative_strength": -16.988376, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.642528, "energy": 76.460069, "activity_lines": [ 7.071333, 7.732727, 8.172, 8.382344 ] } ], "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." } } }