{
  "ticker": {
    "uuid": "f9abf865-0a14-4072-b65e-97d535501a95",
    "symbol": "600455",
    "name": "But'one Information Corporation,Xi'an",
    "exchange": "SHH",
    "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": "000001.SS",
    "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": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -60.915,
    "architecture_energy": 48.169,
    "architecture_maturity": 39.642,
    "architecture_confidence": 89.856,
    "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": 11.01,
        "rotation_up": 21.49,
        "upward_expansion": 6.97,
        "deceleration": 59.25,
        "rotation_down": 55.99,
        "downward_expansion": 80.3
      },
      "activity_lines": [
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      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.666667
    },
    "latest_close": 23.77,
    "trend_reference": 26.038667,
    "distance_from_trend": -0.087127,
    "trend_direction": "Weakening",
    "fair_value": 23.091795,
    "distance_from_fair_value": 0.02937,
    "fair_value_direction": "Weakening",
    "relative_strength": -9.331595,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.16859,
    "excess_performance": -0.125387,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.087127,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.048178,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.02937,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.240912,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.093316,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.075611,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.16859,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.549212,
        "read": "Supply-led"
      }
    ],
    "volume": {
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      "relative_activity": 1.256803,
      "balance": 0.549212,
      "dry_up": 1.153559,
      "accumulation_observations": 3,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.086923,
      "annualized_volatility": 0.379143,
      "from_high_reference": -0.212392,
      "from_low_reference": 0.208439
    },
    "levels": {
      "trend_reference": 26.038667,
      "fair_value_reference": 23.091795,
      "structural_low": 19.67,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 16,
        "median_return": 0.037324,
        "positive_rate": 0.6875,
        "directional_follow_through": 0.3125,
        "median_excess_return": 0.038233,
        "regime_survival": 0.75,
        "best_return": 0.261538,
        "worst_return": -0.236085,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
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        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.333333,
        "best_return": 0.476768,
        "worst_return": -0.117647,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": 0.142857,
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        "regime_survival": 0.4,
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        "worst_return": -0.197297,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "sufficient": false
      }
    ],
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      },
      {
        "regime": "deceleration",
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      },
      {
        "regime": "deceleration",
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      {
        "regime": "balance",
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      },
      {
        "regime": "downward_expansion",
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      },
      {
        "regime": "balance",
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      {
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      },
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      },
      {
        "date": "2026-07-03",
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      },
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        "fair_value": 23.119231,
        "relative_strength": -17.78596,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
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        "direction": -70.388827,
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      },
      {
        "date": "2026-07-17",
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        "volume": 8334873,
        "typical_volume": 7858803.3,
        "trend": 26.429,
        "fair_value": 23.111667,
        "relative_strength": -16.221601,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -76.453191,
        "energy": 83.43765,
        "activity_lines": [
          22.150667,
          23.296182,
          24.866191,
          25.679957
        ]
      },
      {
        "date": "2026-07-24",
        "close": 20.110001,
        "volume": 9341300,
        "typical_volume": 7852088.45,
        "trend": 26.227,
        "fair_value": 23.091602,
        "relative_strength": -21.721534,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -81.186998,
        "energy": 80.003269,
        "activity_lines": [
          21.398667,
          22.474,
          24.327381,
          25.27228
        ]
      },
      {
        "date": "2026-07-31",
        "close": 22.23,
        "volume": 9086000,
        "typical_volume": 7884013.45,
        "trend": 26.112,
        "fair_value": 23.086282,
        "relative_strength": -13.353121,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.195004,
        "energy": 60.053243,
        "activity_lines": [
          21.572,
          22.205455,
          24.031381,
          25.014409
        ]
      },
      {
        "date": "2026-08-07",
        "close": 23.77,
        "volume": 10018000,
        "typical_volume": 7971018.45,
        "trend": 26.038667,
        "fair_value": 23.091795,
        "relative_strength": -9.331595,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -60.914922,
        "energy": 48.169217,
        "activity_lines": [
          22.224667,
          22.339091,
          23.91281,
          24.863312
        ]
      }
    ],
    "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."
    }
  }
}