{
  "ticker": {
    "uuid": "39f60a90-6ee3-4e66-96d1-ec4b4d420a20",
    "symbol": "SHANG",
    "name": "Shangri-La Hotel 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": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 72.475,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -60.816,
    "architecture_energy": 33.371,
    "architecture_maturity": 41.921,
    "architecture_confidence": 96,
    "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": 34.44,
        "rotation_up": 28.4,
        "upward_expansion": 13.93,
        "deceleration": 35.86,
        "rotation_down": 39.96,
        "downward_expansion": 69.26
      },
      "activity_lines": [
        44.216667,
        44.231818,
        44.673561,
        45.46737
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.666667
    },
    "latest_close": 43.75,
    "trend_reference": 46.529029,
    "distance_from_trend": -0.059727,
    "trend_direction": "Improving",
    "fair_value": 46.253607,
    "distance_from_fair_value": -0.054128,
    "fair_value_direction": "Improving",
    "relative_strength": -18.418326,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.058806,
    "excess_performance": -0.251131,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.059727,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.008153,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.054128,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.013702,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.184183,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.015361,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.058806,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.204644,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 600,
      "relative_activity": 0.05772,
      "balance": 0.204644,
      "dry_up": 1.587302,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.031648,
      "annualized_volatility": 0.375584,
      "from_high_reference": -0.280714,
      "from_low_reference": 0.164108
    },
    "levels": {
      "trend_reference": 46.529029,
      "fair_value_reference": 46.253607,
      "structural_low": 42.25,
      "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": 20,
        "median_return": 0.0,
        "positive_rate": 0.4,
        "directional_follow_through": 0.45,
        "median_excess_return": 0.019927,
        "regime_survival": 0.8,
        "best_return": 0.195122,
        "worst_return": -0.110497,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.009434,
        "positive_rate": 0.571429,
        "directional_follow_through": 0.428571,
        "median_excess_return": 0.047456,
        "regime_survival": 0.428571,
        "best_return": 0.316456,
        "worst_return": -0.069444,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.005102,
        "positive_rate": 0.4,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.030002,
        "regime_survival": 0.2,
        "best_return": 0.190295,
        "worst_return": -0.092593,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.004717,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.073135,
        "regime_survival": 0.333333,
        "best_return": 0.128993,
        "worst_return": -0.097222,
        "sufficient": false
      }
    ],
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        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-06-20",
        "end": "2025-06-27",
        "tenure": "New",
        "return": -0.072917,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-07-04",
        "end": "2025-07-25",
        "tenure": "New",
        "return": 0.101124,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "tenure": "Developing",
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      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2025-09-12",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
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        "regime": "upward_expansion",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-21",
        "tenure": "New",
        "return": -0.15625,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-11-28",
        "end": "2026-01-09",
        "tenure": "Developing",
        "return": 0.265823,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "end": "2026-02-20",
        "tenure": "Developing",
        "return": -0.024876,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "end": "2026-03-13",
        "tenure": "New",
        "return": -0.086538,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-03-20",
        "end": "2026-04-10",
        "tenure": "New",
        "return": 0.168539,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2026-04-17",
        "end": "2026-05-01",
        "tenure": "New",
        "return": -0.125,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-08",
        "end": "2026-05-15",
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      {
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      {
        "regime": "downward_expansion",
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        "active": true
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        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 45.987042,
        "energy": 45.893045,
        "activity_lines": [
          49.813187,
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          48.646389,
          47.628855
        ]
      },
      {
        "date": "2026-05-01",
        "close": 45.0,
        "volume": 55100,
        "typical_volume": 7530.0,
        "trend": 46.813187,
        "fair_value": 46.725294,
        "relative_strength": -17.210418,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 8.164695,
        "energy": 6.23459,
        "activity_lines": [
          48.098901,
          48.362637,
          48.382653,
          47.504431
        ]
      },
      {
        "date": "2026-05-08",
        "close": 43.5,
        "volume": 700,
        "typical_volume": 7450.0,
        "trend": 46.482967,
        "fair_value": 46.665312,
        "relative_strength": -19.954414,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -25.392441,
        "energy": 24.034447,
        "activity_lines": [
          46.181319,
          47.474026,
          47.958399,
          47.290677
        ]
      },
      {
        "date": "2026-05-15",
        "close": 43.5,
        "volume": 1300,
        "typical_volume": 7435.0,
        "trend": 46.317582,
        "fair_value": 46.615965,
        "relative_strength": -20.406565,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -28.617553,
        "energy": 36.042863,
        "activity_lines": [
          44.792308,
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          47.098228
        ]
      },
      {
        "date": "2026-05-22",
        "close": 43.5,
        "volume": 300,
        "typical_volume": 7425.0,
        "trend": 46.185165,
        "fair_value": 46.569657,
        "relative_strength": -20.968279,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -28.608784,
        "energy": 55.412169,
        "activity_lines": [
          43.931868,
          46.025874,
          47.100706,
          46.916448
        ]
      },
      {
        "date": "2026-05-29",
        "close": 46.5,
        "volume": 2100,
        "typical_volume": 7450.0,
        "trend": 46.152747,
        "fair_value": 46.536503,
        "relative_strength": -16.643281,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -23.010163,
        "energy": 47.559913,
        "activity_lines": [
          44.6,
          45.930869,
          46.974176,
          46.93676
        ]
      },
      {
        "date": "2026-06-05",
        "close": 44.25,
        "volume": 0,
        "typical_volume": 7200.0,
        "trend": 46.18544,
        "fair_value": 46.490444,
        "relative_strength": -20.845312,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -33.942422,
        "energy": 43.612988,
        "activity_lines": [
          44.55,
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          46.64741,
          46.814002
        ]
      },
      {
        "date": "2026-06-12",
        "close": 43.5,
        "volume": 2100,
        "typical_volume": 7190.0,
        "trend": 46.193132,
        "fair_value": 46.442617,
        "relative_strength": -22.078061,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -37.473362,
        "energy": 31.034209,
        "activity_lines": [
          44.3,
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        ]
      },
      {
        "date": "2026-06-19",
        "close": 45.0,
        "volume": 0,
        "typical_volume": 7105.0,
        "trend": 46.357967,
        "fair_value": 46.410483,
        "relative_strength": -17.654582,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -27.505793,
        "energy": 23.261217,
        "activity_lines": [
          44.55,
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 44.25,
        "volume": 0,
        "typical_volume": 7020.0,
        "trend": 46.530769,
        "fair_value": 46.372022,
        "relative_strength": -16.893133,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -50.482659,
        "energy": 44.528197,
        "activity_lines": [
          44.45,
          44.422328,
          45.816915,
          46.427774
        ]
      },
      {
        "date": "2026-07-03",
        "close": 44.25,
        "volume": 1000,
        "typical_volume": 6995.0,
        "trend": 46.621154,
        "fair_value": 46.350274,
        "relative_strength": -19.920992,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.527601,
        "energy": 56.407344,
        "activity_lines": [
          44.3,
          44.359091,
          45.569191,
          46.280627
        ]
      },
      {
        "date": "2026-07-10",
        "close": 43.0,
        "volume": 12800,
        "typical_volume": 7395.0,
        "trend": 46.678114,
        "fair_value": 46.326591,
        "relative_strength": -22.148757,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -70.094806,
        "energy": 57.424008,
        "activity_lines": [
          43.883333,
          44.118182,
          45.233072,
          46.047005
        ]
      },
      {
        "date": "2026-07-17",
        "close": 45.25,
        "volume": 12000,
        "typical_volume": 7945.0,
        "trend": 46.801832,
        "fair_value": 46.312773,
        "relative_strength": -18.389681,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -54.181192,
        "energy": 34.008315,
        "activity_lines": [
          44.3,
          44.322727,
          45.137245,
          45.954868
        ]
      },
      {
        "date": "2026-07-24",
        "close": 45.0,
        "volume": 33300,
        "typical_volume": 9570.0,
        "trend": 46.785348,
        "fair_value": 46.298872,
        "relative_strength": -18.494337,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -42.612354,
        "energy": 27.989464,
        "activity_lines": [
          44.516667,
          44.45,
          45.04703,
          45.838621
        ]
      },
      {
        "date": "2026-07-31",
        "close": 44.0,
        "volume": 20100,
        "typical_volume": 10570.0,
        "trend": 46.719048,
        "fair_value": 46.275521,
        "relative_strength": -18.891205,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -50.897148,
        "energy": 32.203397,
        "activity_lines": [
          44.4,
          44.368182,
          44.86511,
          45.658921
        ]
      },
      {
        "date": "2026-08-07",
        "close": 43.75,
        "volume": 600,
        "typical_volume": 10395.0,
        "trend": 46.529029,
        "fair_value": 46.253607,
        "relative_strength": -18.418326,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -60.815855,
        "energy": 33.371278,
        "activity_lines": [
          44.216667,
          44.231818,
          44.673561,
          45.46737
        ]
      }
    ],
    "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."
    }
  }
}