{
  "ticker": {
    "uuid": "d6bfed0b-8215-43ad-a6b6-a48576290bf9",
    "symbol": "4121",
    "name": "Rossmax International Ltd.",
    "exchange": "TWO",
    "country": "TW",
    "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": "2026-08-14",
    "benchmark": "^TWII",
    "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": -65.331,
    "architecture_energy": 52.928,
    "architecture_maturity": 51.64,
    "architecture_confidence": 94.323,
    "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": 9.39,
        "rotation_up": 25.64,
        "upward_expansion": 8.63,
        "deceleration": 55.86,
        "rotation_down": 55.92,
        "downward_expansion": 84.29
      },
      "activity_lines": [
        13.04,
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        13.549524,
        14.280753
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.833333
    },
    "latest_close": 12.95,
    "trend_reference": 15.288333,
    "distance_from_trend": -0.152949,
    "trend_direction": "Weakening",
    "fair_value": 18.476119,
    "distance_from_fair_value": -0.299095,
    "fair_value_direction": "Improving",
    "relative_strength": -40.012146,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.264205,
    "excess_performance": -0.705577,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.152949,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.041484,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.299095,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.002872,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.400121,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.009651,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.264205,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.784078,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 181298,
      "relative_activity": 0.29039,
      "balance": 0.784078,
      "dry_up": 0.642835,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.060588,
      "annualized_volatility": 0.366428,
      "from_high_reference": -0.378897,
      "from_low_reference": 0.031873
    },
    "levels": {
      "trend_reference": 15.288333,
      "fair_value_reference": 18.476119,
      "structural_low": 12.55,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 23,
        "median_return": 0.007212,
        "positive_rate": 0.521739,
        "directional_follow_through": 0.478261,
        "median_excess_return": -0.033459,
        "regime_survival": 0.782609,
        "best_return": 0.215881,
        "worst_return": -0.152125,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "median_return": 0.037128,
        "positive_rate": 0.625,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.058908,
        "regime_survival": 0.375,
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        "worst_return": -0.173389,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.006256,
        "positive_rate": 0.5,
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        "median_excess_return": -0.096508,
        "regime_survival": 0.333333,
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        "worst_return": -0.252533,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "positive_rate": 0.5,
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        "best_return": 0.308787,
        "worst_return": -0.232218,
        "sufficient": false
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    ],
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        "regime": "upward_expansion",
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        "start": "2024-03-22",
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        "tenure": "New",
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      {
        "regime": "balance",
        "label": "Balance",
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        "regime": "rotation_down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "tenure": "Extended",
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        "active": false
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      {
        "regime": "rotation_up",
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      {
        "regime": "balance",
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        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-09-05",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "balance",
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        "active": false
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        "regime": "deceleration",
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        "date": "2026-07-10",
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      },
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 1110939.25,
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        "fair_value": 18.756319,
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        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -60.767908,
        "energy": 50.317462,
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      },
      {
        "date": "2026-07-31",
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        "volume": 448247,
        "typical_volume": 953071.95,
        "trend": 15.443333,
        "fair_value": 18.65591,
        "relative_strength": -38.226665,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -70.651663,
        "energy": 55.591946,
        "activity_lines": [
          13.223333,
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      },
      {
        "date": "2026-08-07",
        "close": 13.0,
        "volume": 213104,
        "typical_volume": 657786.55,
        "trend": 15.358333,
        "fair_value": 18.563667,
        "relative_strength": -38.485386,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -64.654103,
        "energy": 52.976138,
        "activity_lines": [
          13.113333,
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          13.661905,
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      },
      {
        "date": "2026-08-14",
        "close": 12.95,
        "volume": 181298,
        "typical_volume": 624325.2,
        "trend": 15.288333,
        "fair_value": 18.476119,
        "relative_strength": -40.012146,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -65.330952,
        "energy": 52.927714,
        "activity_lines": [
          13.04,
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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."
    }
  }
}