{
  "ticker": {
    "uuid": "dbef4aa7-17b0-434a-b8cc-42f89abd45a6",
    "symbol": "200037",
    "name": "Shenzhen Nanshan Power 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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 33.47,
    "architecture_energy": 14.124,
    "architecture_maturity": 39.559,
    "architecture_confidence": 96,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 51.39,
        "rotation_up": 29.31,
        "upward_expansion": 57.2,
        "deceleration": 89.46,
        "rotation_down": 29.5,
        "downward_expansion": 18.87
      },
      "activity_lines": [
        2.331333,
        2.327709,
        2.359492,
        2.307967
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 2.44,
    "trend_reference": 2.218837,
    "distance_from_trend": 0.099675,
    "trend_direction": "Improving",
    "fair_value": 1.911251,
    "distance_from_fair_value": 0.276651,
    "fair_value_direction": "Improving",
    "relative_strength": 13.765417,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.244898,
    "excess_performance": 0.237498,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.099675,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.078527,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.276651,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.11614,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.137654,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.207456,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.244898,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.273909,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3644408,
      "relative_activity": 0.953424,
      "balance": 4.273909,
      "dry_up": 0.831774,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.084262,
      "annualized_volatility": 0.349296,
      "from_high_reference": -0.140671,
      "from_low_reference": 0.386364
    },
    "levels": {
      "trend_reference": 2.218837,
      "fair_value_reference": 1.911251,
      "structural_low": 1.93,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 12,
        "median_return": -0.001923,
        "positive_rate": 0.416667,
        "directional_follow_through": 0.416667,
        "median_excess_return": 0.000178,
        "regime_survival": 0.666667,
        "best_return": 0.114155,
        "worst_return": -0.033898,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": 0.016705,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.005141,
        "regime_survival": 0.333333,
        "best_return": 0.10582,
        "worst_return": -0.016304,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.008904,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.025415,
        "regime_survival": 0.0,
        "best_return": 0.1,
        "worst_return": -0.107692,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.033898,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.191548,
        "regime_survival": 0.666667,
        "best_return": 0.038251,
        "worst_return": -0.315385,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-03-22",
        "end": "2024-07-26",
        "tenure": "Established",
        "return": -0.028409,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-08-02",
        "end": "2024-10-18",
        "tenure": "Developing",
        "return": 0.076471,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-10-25",
        "end": "2024-11-08",
        "tenure": "New",
        "return": 0.119792,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-15",
        "end": "2024-12-27",
        "tenure": "Developing",
        "return": -0.029126,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-01-03",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": -0.027174,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-02-07",
        "end": "2025-02-21",
        "tenure": "New",
        "return": 0.022099,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-02-28",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": 0.011173,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-11",
        "end": "2025-06-13",
        "tenure": "Developing",
        "return": 0.065089,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-06-20",
        "end": "2025-07-11",
        "tenure": "New",
        "return": 0.062147,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-07-18",
        "end": "2025-08-01",
        "tenure": "New",
        "return": 0.010811,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-08",
        "end": "2025-09-19",
        "tenure": "Developing",
        "return": -0.010638,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-26",
        "end": "2026-01-30",
        "tenure": "Established",
        "return": 0.031579,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-02-06",
        "end": "2026-07-03",
        "tenure": "Established",
        "return": 0.137755,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-07-10",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.114155,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-07-28",
        "close": 2.32,
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        "typical_volume": 833478.25,
        "trend": 2.409667,
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      },
      {
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      {
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        "date": "2026-05-01",
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        "date": "2026-05-15",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
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        "fair_value": 1.912469,
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        "stage": 2,
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 3824849.3,
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        "fair_value": 1.911443,
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        "stage": 2,
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        "direction": 10.034926,
        "energy": 28.262641,
        "activity_lines": [
          2.232225,
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          2.276237
        ]
      },
      {
        "date": "2026-07-24",
        "close": 2.28,
        "volume": 4120038,
        "typical_volume": 3920132.65,
        "trend": 2.185504,
        "fair_value": 1.910802,
        "relative_strength": 10.521186,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 2.849124,
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        "activity_lines": [
          2.232,
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          2.344636,
          2.283172
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      },
      {
        "date": "2026-07-31",
        "close": 2.33,
        "volume": 2472913,
        "typical_volume": 3838677.9,
        "trend": 2.200171,
        "fair_value": 1.910546,
        "relative_strength": 14.498916,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 5.944739,
        "energy": 14.734233,
        "activity_lines": [
          2.267333,
          2.320782,
          2.347326,
          2.292494
        ]
      },
      {
        "date": "2026-08-07",
        "close": 2.44,
        "volume": 3644408,
        "typical_volume": 3822442.7,
        "trend": 2.218837,
        "fair_value": 1.911251,
        "relative_strength": 13.765417,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 33.470461,
        "energy": 14.12426,
        "activity_lines": [
          2.331333,
          2.327709,
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          2.307967
        ]
      }
    ],
    "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."
    }
  }
}