{
  "ticker": {
    "uuid": "364d4931-a4db-4829-b9b5-f7f8731828c7",
    "symbol": "WHAUP",
    "name": "WHA Utilities and Power 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": 2,
    "stage_name": "Advancing",
    "phase": "2c",
    "phase_label": "Stage 2C \u00b7 Late 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": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 66.557,
    "architecture_energy": 66.814,
    "architecture_maturity": 78.984,
    "architecture_confidence": 83.054,
    "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": 8.05,
        "rotation_up": 65.65,
        "upward_expansion": 85.33,
        "deceleration": 68.59,
        "rotation_down": 19.8,
        "downward_expansion": 12.0
      },
      "activity_lines": [
        7.87,
        7.579091,
        6.733566,
        6.137259
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.666667
    },
    "latest_close": 7.75,
    "trend_reference": 5.458333,
    "distance_from_trend": 0.419848,
    "trend_direction": "Improving",
    "fair_value": 3.927073,
    "distance_from_fair_value": 0.97348,
    "fair_value_direction": "Improving",
    "relative_strength": 41.252174,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.81155,
    "excess_performance": 0.619225,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.419848,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.228086,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.97348,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.591049,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.412522,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.300427,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.81155,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.103582,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 75879000,
      "relative_activity": 1.589751,
      "balance": 1.103582,
      "dry_up": 2.315897,
      "accumulation_observations": 4,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.073151,
      "annualized_volatility": 0.384661,
      "from_high_reference": -0.088235,
      "from_low_reference": 1.468858
    },
    "levels": {
      "trend_reference": 5.458333,
      "fair_value_reference": 3.927073,
      "structural_low": 3.913602,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 27,
        "median_return": 0.004975,
        "positive_rate": 0.555556,
        "directional_follow_through": 0.555556,
        "median_excess_return": 0.00708,
        "regime_survival": 0.666667,
        "best_return": 0.186441,
        "worst_return": -0.114286,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": 0.045724,
        "positive_rate": 0.545455,
        "directional_follow_through": 0.545455,
        "median_excess_return": 0.071786,
        "regime_survival": 0.727273,
        "best_return": 0.397922,
        "worst_return": -0.074627,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.040755,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.025682,
        "regime_survival": 0.666667,
        "best_return": 0.173251,
        "worst_return": -0.190123,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.030422,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.06433,
        "regime_survival": 0.666667,
        "best_return": 0.245535,
        "worst_return": -0.045177,
        "sufficient": false
      }
    ],
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-08-09",
        "end": "2024-09-13",
        "tenure": "Developing",
        "return": 0.089553,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
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        "end": "2025-01-17",
        "tenure": "Developing",
        "return": -0.224,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-01-24",
        "end": "2025-02-14",
        "tenure": "New",
        "return": -0.105,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-21",
        "end": "2025-07-18",
        "tenure": "Established",
        "return": -0.016972,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-08-08",
        "tenure": "New",
        "return": 0.023669,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "active": false
      },
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        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
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        "regime": "balance",
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        "active": true
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      },
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        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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      },
      {
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 41723285.0,
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        "fair_value": 3.833916,
        "relative_strength": 48.287701,
        "stage": 2,
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        "direction": 86.345376,
        "energy": 89.731037,
        "activity_lines": [
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          6.093103,
          5.623367
        ]
      },
      {
        "date": "2026-07-24",
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        "volume": 111641600,
        "typical_volume": 44558455.0,
        "trend": 5.211777,
        "fair_value": 3.866639,
        "relative_strength": 47.753774,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 80.297321,
        "energy": 72.78807,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 7.8,
        "volume": 74561800,
        "typical_volume": 45120915.0,
        "trend": 5.337487,
        "fair_value": 3.897546,
        "relative_strength": 42.989276,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 68.375607,
        "energy": 68.404553,
        "activity_lines": [
          7.876667,
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          6.548814,
          5.981613
        ]
      },
      {
        "date": "2026-08-07",
        "close": 7.75,
        "volume": 75879000,
        "typical_volume": 47730110.0,
        "trend": 5.458333,
        "fair_value": 3.927073,
        "relative_strength": 41.252174,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 66.557453,
        "energy": 66.814039,
        "activity_lines": [
          7.87,
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          6.733566,
          6.137259
        ]
      }
    ],
    "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."
    }
  }
}