{
  "ticker": {
    "uuid": "f457974d-ad75-40d8-a8e7-0b0879b6027d",
    "symbol": "2867",
    "name": "Mercuries Life Insurance Company Ltd.",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 72.293,
    "architecture_energy": 86.546,
    "architecture_maturity": 30.718,
    "architecture_confidence": 67.84,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 4.33,
        "rotation_up": 83.22,
        "upward_expansion": 98.94,
        "deceleration": 39.58,
        "rotation_down": 8.83,
        "downward_expansion": 20.94
      },
      "activity_lines": [
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        8.788667,
        8.51572
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 9.75,
    "trend_reference": 8.235,
    "distance_from_trend": 0.183971,
    "trend_direction": "Improving",
    "fair_value": 6.549094,
    "distance_from_fair_value": 0.488756,
    "fair_value_direction": "Improving",
    "relative_strength": -7.106452,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.226415,
    "excess_performance": -0.214957,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.183971,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.063908,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.488756,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.255219,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.071065,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.137599,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.226415,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.469436,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "balance": 2.469436,
      "dry_up": 1.457132,
      "accumulation_observations": 7,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.051519,
      "annualized_volatility": 0.209942,
      "from_high_reference": -0.029851,
      "from_low_reference": 0.871401
    },
    "levels": {
      "trend_reference": 8.235,
      "fair_value_reference": 6.549094,
      "structural_low": 7.36,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 14,
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        "positive_rate": 0.571429,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.024055,
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        "worst_return": -0.063508,
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      },
      {
        "horizon": "Intermediate",
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      },
      {
        "horizon": "Extended",
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        "horizon": "Full cycle",
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      },
      {
        "date": "2026-07-31",
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        "fair_value": 6.491092,
        "relative_strength": 0.143317,
        "stage": 2,
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      },
      {
        "date": "2026-08-07",
        "close": 9.81,
        "volume": 79226990,
        "typical_volume": 65649224.9,
        "trend": 8.169667,
        "fair_value": 6.520093,
        "relative_strength": -3.244933,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 81.344886,
        "energy": 90.788256,
        "activity_lines": [
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      },
      {
        "date": "2026-08-14",
        "close": 9.75,
        "volume": 61893959,
        "typical_volume": 66821612.2,
        "trend": 8.235,
        "fair_value": 6.549094,
        "relative_strength": -7.106452,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 72.292973,
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        "activity_lines": [
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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."
    }
  }
}