{ "ticker": { "uuid": "e7436479-a978-45b0-a28e-05936e1d88b4", "symbol": "200028", "name": "China National Accord Medicines Corporation 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": 3, "stage_name": "Distribution", "phase": "3b", "phase_label": "Stage 3B \u00b7 Distribution", "transition": "stage_3_churning", "transition_label": "Stage 3 range intact", "confidence": 56.513, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "mixed", "architecture_direction": -6.053, "architecture_energy": 8.175, "architecture_maturity": 48.463, "architecture_confidence": 88.794, "architecture_tenure": "Established", "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": 71.92, "rotation_up": 41.77, "upward_expansion": 29.34, "deceleration": 35.03, "rotation_down": 24.29, "downward_expansion": 23.34 }, "activity_lines": [ 11.89, 11.856425, 11.860019, 11.86954 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.0 }, "latest_close": 11.86, "trend_reference": 11.880494, "distance_from_trend": -0.001725, "trend_direction": "Improving", "fair_value": 11.371373, "distance_from_fair_value": 0.04297, "fair_value_direction": "Weakening", "relative_strength": -3.010699, "relative_strength_direction": "Improving", "price_momentum": -0.019305, "excess_performance": -0.026705, "evidence": [ { "label": "Price vs Trend", "positive": false, "value": -0.001725, "read": "Below" }, { "label": "Trend direction", "positive": true, "value": 0.0037, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.04297, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.013978, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.030107, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.123401, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.019305, "read": "Negative" }, { "label": "Volume balance", "positive": false, "value": 0.898128, "read": "Supply-led" } ], "volume": { "latest": 551218, "relative_activity": 0.680116, "balance": 0.898128, "dry_up": 0.867954, "accumulation_observations": 2, "distribution_observations": 4 }, "risk": { "range_context": 0.022923, "annualized_volatility": 0.083479, "from_high_reference": -0.024177, "from_low_reference": 0.043198 }, "levels": { "trend_reference": 11.880494, "fair_value_reference": 11.371373, "structural_low": 11.36889, "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": 16, "median_return": -0.003903, "positive_rate": 0.4375, "directional_follow_through": 0.4375, "median_excess_return": -0.011101, "regime_survival": 0.5625, "best_return": 0.120272, "worst_return": -0.109646, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 8, "median_return": 0.019599, "positive_rate": 0.625, "directional_follow_through": 0.625, "median_excess_return": -0.093732, "regime_survival": 0.25, "best_return": 0.116283, "worst_return": -0.196894, "sufficient": true }, { "horizon": "Extended", "sample_count": 6, "median_return": 0.074859, "positive_rate": 0.666667, "directional_follow_through": 0.666667, "median_excess_return": -0.095409, "regime_survival": 0.333333, "best_return": 0.164535, "worst_return": -0.091693, 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11.802667, 11.807428, 11.8429, 11.858129 ] }, { "date": "2026-07-31", "close": 12.04, "volume": 810864, "typical_volume": 852396.65, "trend": 11.869011, "fair_value": 11.370843, "relative_strength": 3.239009, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": 13.038449, "energy": 6.899496, "activity_lines": [ 11.884, 11.849843, 11.860376, 11.870121 ] }, { "date": "2026-08-07", "close": 11.86, "volume": 551218, "typical_volume": 810476.05, "trend": 11.880494, "fair_value": 11.371373, "relative_strength": -3.010699, "stage": 3, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -6.053332, "energy": 8.174639, "activity_lines": [ 11.89, 11.856425, 11.860019, 11.86954 ] } ], "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." } } }