{
  "ticker": {
    "uuid": "bec1984d-6089-4e3f-b01d-f988b00010d9",
    "symbol": "688019",
    "name": "Anji Microelectronics Technology (Shanghai) 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": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": 2.799,
    "architecture_energy": 9.117,
    "architecture_maturity": 34.486,
    "architecture_confidence": 43.135,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 63.56,
        "rotation_up": 22.71,
        "upward_expansion": 27.78,
        "deceleration": 67.24,
        "rotation_down": 42.32,
        "downward_expansion": 27.78
      },
      "activity_lines": [
        251.220663,
        257.678383,
        243.615673,
        240.786939
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 251.679993,
    "trend_reference": 244.095016,
    "distance_from_trend": 0.031074,
    "trend_direction": "Improving",
    "fair_value": 144.497761,
    "distance_from_fair_value": 0.741757,
    "fair_value_direction": "Improving",
    "relative_strength": 13.573309,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.067057,
    "excess_performance": -0.023853,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.031074,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.073112,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.741757,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.259269,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.135733,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.217901,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.067057,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.017021,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 44980754,
      "relative_activity": 1.343744,
      "balance": 2.017021,
      "dry_up": 1.552358,
      "accumulation_observations": 6,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.173151,
      "annualized_volatility": 0.66758,
      "from_high_reference": -0.305691,
      "from_low_reference": 0.735724
    },
    "levels": {
      "trend_reference": 244.095016,
      "fair_value_reference": 144.497761,
      "structural_low": 176.611035,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": -0.047279,
        "positive_rate": 0.2,
        "directional_follow_through": 0.2,
        "median_excess_return": -0.027433,
        "regime_survival": 0.3,
        "best_return": 0.108203,
        "worst_return": -0.183675,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.015665,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.052929,
        "regime_survival": 0.333333,
        "best_return": 0.529097,
        "worst_return": -0.155394,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.002711,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.065575,
        "regime_survival": 0.0,
        "best_return": 0.360645,
        "worst_return": -0.045757,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.064377,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.057738,
        "regime_survival": 0.0,
        "best_return": 0.46077,
        "worst_return": -0.117744,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2024-08-09",
        "tenure": "New",
        "return": -0.019631,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "return": 0.035156,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-13",
        "end": "2024-09-27",
        "tenure": "New",
        "return": 0.155684,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "tenure": "Developing",
        "return": 0.041047,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-02-07",
        "tenure": "Developing",
        "return": 0.044383,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-11-07",
        "tenure": "Extended",
        "return": 0.758327,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-12-26",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "upward_expansion",
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        "tenure": "Developing",
        "return": 0.13482,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "active": false
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      {
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        "active": false
      },
      {
        "regime": "balance",
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      {
        "regime": "rotation_up",
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      {
        "regime": "balance",
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        "active": true
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    ],
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 29993966.95,
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        "fair_value": 142.516162,
        "relative_strength": 21.243024,
        "stage": 1,
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        "direction": 28.244499,
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      },
      {
        "date": "2026-07-31",
        "close": 237.380005,
        "volume": 50730980,
        "typical_volume": 31910545.2,
        "trend": 242.969683,
        "fair_value": 143.444677,
        "relative_strength": 10.984559,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 8.367154,
        "energy": 11.383108,
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      },
      {
        "date": "2026-08-07",
        "close": 251.679993,
        "volume": 44980754,
        "typical_volume": 33474198.7,
        "trend": 244.095016,
        "fair_value": 144.497761,
        "relative_strength": 13.573309,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 2.799476,
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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."
    }
  }
}