{
  "ticker": {
    "uuid": "2c2c5edf-678e-47f3-b230-d7081792c3e0",
    "symbol": "KSL",
    "name": "Khon Kaen Sugar Industry Public Company Limited",
    "exchange": "SET",
    "country": "TH",
    "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": "^SET.BK",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 58.38,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 67.49,
    "architecture_energy": 61.062,
    "architecture_maturity": 47.528,
    "architecture_confidence": 80.427,
    "architecture_tenure": "Established",
    "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": 16.42,
        "rotation_up": 71.34,
        "upward_expansion": 89.92,
        "deceleration": 41.49,
        "rotation_down": 13.09,
        "downward_expansion": 11.92
      },
      "activity_lines": [
        1.615333,
        1.586,
        1.561952,
        1.533155
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 1.64,
    "trend_reference": 1.465471,
    "distance_from_trend": 0.119094,
    "trend_direction": "Improving",
    "fair_value": 1.788349,
    "distance_from_fair_value": -0.082953,
    "fair_value_direction": "Improving",
    "relative_strength": 1.503491,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.374676,
    "excess_performance": 0.182351,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.119094,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.074262,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.082953,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.092139,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.015035,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.031829,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.374676,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.091506,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 18009900,
      "relative_activity": 1.343738,
      "balance": 2.091506,
      "dry_up": 1.328883,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.05394,
      "annualized_volatility": 0.379076,
      "from_high_reference": -0.093923,
      "from_low_reference": 0.420884
    },
    "levels": {
      "trend_reference": 1.465471,
      "fair_value_reference": 1.788349,
      "structural_low": 1.183308,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": -0.028068,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.046315,
        "regime_survival": 0.666667,
        "best_return": 0.078947,
        "worst_return": -0.083333,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.04878,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.110333,
        "regime_survival": 0.333333,
        "best_return": -0.005208,
        "worst_return": -0.063492,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 1,
        "median_return": -0.060328,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.098561,
        "regime_survival": 0.0,
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        "worst_return": -0.060328,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.122,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.122,
        "regime_survival": 0.0,
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        "worst_return": -0.122,
        "sufficient": false
      }
    ],
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      },
      {
        "regime": "balance",
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        "tenure": "New",
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      },
      {
        "regime": "downward_expansion",
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      },
      {
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      },
      {
        "regime": "downward_expansion",
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        "tenure": "Extended",
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      },
      {
        "regime": "rotation_up",
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2024-11-29",
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        "active": false
      },
      {
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        "active": false
      },
      {
        "regime": "downward_expansion",
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      },
      {
        "regime": "balance",
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      },
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        "regime": "downward_expansion",
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      },
      {
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      {
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        "active": true
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      },
      {
        "date": "2026-07-24",
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        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 1.61,
        "volume": 7770600,
        "typical_volume": 15423810.0,
        "trend": 1.449925,
        "fair_value": 1.795782,
        "relative_strength": -1.361125,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 60.843341,
        "energy": 54.519069,
        "activity_lines": [
          1.596667,
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          1.55381,
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      },
      {
        "date": "2026-08-07",
        "close": 1.64,
        "volume": 18009900,
        "typical_volume": 13402835.0,
        "trend": 1.465471,
        "fair_value": 1.788349,
        "relative_strength": 1.503491,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 67.489787,
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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."
    }
  }
}