{ "ticker": { "uuid": "bf6f8e35-9a27-4d83-851e-58356da240dd", "symbol": "000685", "name": "Zhongshan Public Utilities Group Co.,Ltd", "exchange": "SHZ", "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": "399001.SZ", "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": -32.271, "architecture_energy": 15.104, "architecture_maturity": 53.811, "architecture_confidence": 62.796, "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": 52.09, "rotation_up": 22.42, "upward_expansion": 12.36, "deceleration": 43.21, "rotation_down": 28.56, "downward_expansion": 57.69 }, "activity_lines": [ 10.952908, 10.862896, 10.993708, 11.123415 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": -0.166667 }, "latest_close": 11.04, "trend_reference": 11.364465, "distance_from_trend": -0.028551, "trend_direction": "Weakening", "fair_value": 8.943511, "distance_from_fair_value": 0.234414, "fair_value_direction": "Weakening", "relative_strength": -6.896564, "relative_strength_direction": "Improving", "price_momentum": -0.106073, "excess_performance": -0.113473, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.028551, "read": "Below" }, { "label": "Trend direction", "positive": false, "value": -0.037209, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.234414, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.120868, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.068966, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.056812, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.106073, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.118253, "read": "Demand-led" } ], "volume": { "latest": 71591172, "relative_activity": 0.832332, "balance": 1.118253, "dry_up": 1.191684, "accumulation_observations": 2, "distribution_observations": 4 }, "risk": { "range_context": 0.06926, "annualized_volatility": 0.260287, "from_high_reference": -0.25355, "from_low_reference": 0.169492 }, "levels": { "trend_reference": 11.364465, "fair_value_reference": 8.943511, 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"volume": 121931773, "typical_volume": 85254349.65, "trend": 11.389465, "fair_value": 8.890409, "relative_strength": -4.675311, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -37.455047, "energy": 20.912913, "activity_lines": [ 10.805174, 10.79813, 10.998698, 11.165626 ] }, { "date": "2026-07-31", "close": 11.08, "volume": 84461130, "typical_volume": 86085556.9, "trend": 11.384798, "fair_value": 8.917204, "relative_strength": -1.791349, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -34.345276, "energy": 18.17053, "activity_lines": [ 10.898426, 10.824059, 10.996536, 11.14566 ] }, { "date": "2026-08-07", "close": 11.04, "volume": 71591172, "typical_volume": 86012793.0, "trend": 11.364465, "fair_value": 8.943511, "relative_strength": -6.896564, "stage": 4, "regime": "downward_expansion", "modifier": "Established contraction", "gate": "down", "direction": -32.270618, "energy": 15.103808, "activity_lines": [ 10.952908, 10.862896, 10.993708, 11.123415 ] } ], "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." } } }