{
  "ticker": {
    "uuid": "d6e8d7c1-b61e-467d-890a-61604bb2bb6f",
    "symbol": "3031",
    "name": "Bright LED Electronics Corp.",
    "exchange": "TAI",
    "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": 3,
    "stage_name": "Distribution",
    "phase": "3c",
    "phase_label": "Stage 3C \u00b7 Breakdown watch",
    "transition": "stage_3_to_4_watch",
    "transition_label": "Stage 3 \u2192 4 watch",
    "confidence": 59.588,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -23.66,
    "architecture_energy": 54.355,
    "architecture_maturity": 10.585,
    "architecture_confidence": 74.45,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 34.93,
        "rotation_up": 16.99,
        "upward_expansion": 28.83,
        "deceleration": 46.88,
        "rotation_down": 67.23,
        "downward_expansion": 53.83
      },
      "activity_lines": [
        22.74,
        24.784532,
        26.723157,
        26.362306
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 23.0,
    "trend_reference": 25.063142,
    "distance_from_trend": -0.082318,
    "trend_direction": "Improving",
    "fair_value": 19.36118,
    "distance_from_fair_value": 0.187944,
    "fair_value_direction": "Weakening",
    "relative_strength": -25.341856,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.20467,
    "excess_performance": -0.236702,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.082318,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.10578,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.187944,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.319254,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.253419,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.212152,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.20467,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.994129,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2079444,
      "relative_activity": 0.107272,
      "balance": 1.994129,
      "dry_up": 0.199355,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.164575,
      "annualized_volatility": 0.632347,
      "from_high_reference": -0.35108,
      "from_low_reference": 0.382237
    },
    "levels": {
      "trend_reference": 25.063142,
      "fair_value_reference": 19.36118,
      "structural_low": 17.890077,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 2,
        "median_return": 0.043135,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.011801,
        "regime_survival": 0.0,
        "best_return": 0.10089,
        "worst_return": -0.01462,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.089789,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.017158,
        "regime_survival": 0.0,
        "best_return": 0.096491,
        "worst_return": 0.083086,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 0.23893,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.033127,
        "regime_survival": 0.0,
        "best_return": 0.299497,
        "worst_return": 0.178363,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.626502,
        "positive_rate": 1.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.011984,
        "regime_survival": 0.0,
        "best_return": 1.084218,
        "worst_return": 0.168785,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-01-26",
        "end": "2024-08-09",
        "tenure": "Extended",
        "return": -0.036137,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-16",
        "end": "2024-10-18",
        "tenure": "Developing",
        "return": 0.247396,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-25",
        "end": "2024-11-29",
        "tenure": "Developing",
        "return": -0.047619,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-12-06",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": 0.083141,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-01-17",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": -0.032751,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-28",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.031325,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-11",
        "end": "2025-04-18",
        "tenure": "New",
        "return": 0.032641,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-25",
        "end": "2025-08-08",
        "tenure": "Established",
        "return": 0.019067,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-08-15",
        "end": "2025-09-26",
        "tenure": "Developing",
        "return": 0.017677,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-03",
        "end": "2025-11-14",
        "tenure": "Developing",
        "return": -0.066667,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-03-20",
        "tenure": "Established",
        "return": 0.224932,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Established",
        "return": 0.181435,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "tenure": "Developing",
        "return": -0.25737,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "return": 0.013216,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
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        "stage": 3,
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        "energy": 6.322282,
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      },
      {
        "date": "2026-07-31",
        "close": 21.0,
        "volume": 6034842,
        "typical_volume": 21361427.4,
        "trend": 24.796603,
        "fair_value": 19.267763,
        "relative_strength": -28.319252,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -34.963837,
        "energy": 41.121959,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 22.700001,
        "volume": 3701222,
        "typical_volume": 20644877.8,
        "trend": 24.91846,
        "fair_value": 19.312807,
        "relative_strength": -24.071292,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -24.815467,
        "energy": 50.225316,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-08-14",
        "close": 23.0,
        "volume": 2079444,
        "typical_volume": 19384809.5,
        "trend": 25.063142,
        "fair_value": 19.36118,
        "relative_strength": -25.341856,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -23.660237,
        "energy": 54.355432,
        "activity_lines": [
          22.74,
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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."
    }
  }
}