{ "ticker": { "uuid": "bce680d3-176f-47e9-819e-54521908de5b", "symbol": "600054", "name": "Huangshan Tourism Development 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": "4c", "phase_label": "Stage 4C \u00b7 Repair watch", "transition": "stage_4_to_1_watch", "transition_label": "Stage 4 \u2192 1 repair watch", "confidence": 70.097, "architecture_regime": "downward_expansion", "architecture_regime_label": "Downward Expansion", "architecture_modifier": "Early contraction", "architecture_gate": "down", "architecture_direction": -40.106, "architecture_energy": 26.982, "architecture_maturity": 62.856, "architecture_confidence": 75.582, "architecture_tenure": "Developing", "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": 28.03, "rotation_up": 27.62, "upward_expansion": 21.14, "deceleration": 46.09, "rotation_down": 29.51, "downward_expansion": 59.8 }, "activity_lines": [ 11.102667, 11.012364, 11.120943, 11.475832 ], "activity_state": "Wide", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.333333 }, "latest_close": 11.24, "trend_reference": 11.842789, "distance_from_trend": -0.050899, "trend_direction": "Weakening", "fair_value": 11.462061, "distance_from_fair_value": -0.019374, "fair_value_direction": "Weakening", "relative_strength": -3.680416, "relative_strength_direction": "Improving", "price_momentum": -0.118431, "excess_performance": -0.075228, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.050899, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.00863, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.019374, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": false, "value": -0.001027, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.036804, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.084965, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.118431, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.524508, "read": "Supply-led" } ], "volume": { "latest": 34160709, "relative_activity": 1.016135, "balance": 0.524508, "dry_up": 0.917981, "accumulation_observations": 1, "distribution_observations": 4 }, "risk": { "range_context": 0.036641, "annualized_volatility": 0.211601, "from_high_reference": -0.238482, "from_low_reference": 0.062403 }, "levels": { "trend_reference": 11.842789, "fair_value_reference": 11.462061, "structural_low": 10.57979, "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": 15, "median_return": 0.018601, "positive_rate": 0.6, "directional_follow_through": 0.4, "median_excess_return": 0.00758, "regime_survival": 0.666667, "best_return": 0.201883, "worst_return": -0.089516, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 6, "median_return": 0.147293, "positive_rate": 0.833333, "directional_follow_through": 0.166667, "median_excess_return": 0.062427, "regime_survival": 0.166667, "best_return": 0.224436, "worst_return": -0.08629, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": 0.064725, "positive_rate": 0.8, "directional_follow_through": 0.2, "median_excess_return": 0.069822, "regime_survival": 0.0, "best_return": 0.349397, "worst_return": -0.021368, "sufficient": true }, { "horizon": "Full cycle", 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"date": "2026-07-24", "close": 10.82, "volume": 29656785, "typical_volume": 37651332.1, "trend": 11.843745, "fair_value": 11.481876, "relative_strength": -4.646997, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -63.109022, "energy": 49.114607, "activity_lines": [ 10.871245, 10.882097, 11.185014, 11.549833 ] }, { "date": "2026-07-31", "close": 11.3, "volume": 34542064, "typical_volume": 36112636.1, "trend": 11.843272, "fair_value": 11.471883, "relative_strength": -0.688841, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -45.785933, "energy": 35.551035, "activity_lines": [ 11.015333, 10.956162, 11.150693, 11.514752 ] }, { "date": "2026-08-07", "close": 11.24, "volume": 34160709, "typical_volume": 33618263.65, "trend": 11.842789, "fair_value": 11.462061, "relative_strength": -3.680416, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -40.106206, "energy": 26.982465, "activity_lines": [ 11.102667, 11.012364, 11.120943, 11.475832 ] } ], "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." } } }