{
  "ticker": {
    "uuid": "4a5acba9-aff1-4d29-8628-30d65c70150f",
    "symbol": "BDMS",
    "name": "Bangkok Dusit Medical Services 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": 96.0,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "mixed",
    "architecture_direction": 49.301,
    "architecture_energy": 37.389,
    "architecture_maturity": 25.938,
    "architecture_confidence": 56.705,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 31.75,
        "rotation_up": 60.67,
        "upward_expansion": 49.98,
        "deceleration": 43.52,
        "rotation_down": 21.74,
        "downward_expansion": 10.65
      },
      "activity_lines": [
        19.533334,
        19.38,
        18.987143,
        18.976382
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 20.1,
    "trend_reference": 19.064818,
    "distance_from_trend": 0.054298,
    "trend_direction": "Improving",
    "fair_value": 22.368805,
    "distance_from_fair_value": -0.101427,
    "fair_value_direction": "Improving",
    "relative_strength": -9.3296,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.004578,
    "excess_performance": -0.196903,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.054298,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.00955,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.101427,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.095284,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.093296,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.094734,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.004578,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.146707,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 422231500,
      "relative_activity": 1.916187,
      "balance": 1.146707,
      "dry_up": 1.272733,
      "accumulation_observations": 2,
      "distribution_observations": 4
    },
    "risk": {
      "range_context": 0.03253,
      "annualized_volatility": 0.244491,
      "from_high_reference": -0.075966,
      "from_low_reference": 0.19565
    },
    "levels": {
      "trend_reference": 19.064818,
      "fair_value_reference": 22.368805,
      "structural_low": 17.777083,
      "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": 5,
        "median_return": 0.017094,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.014997,
        "regime_survival": 0.4,
        "best_return": 0.058155,
        "worst_return": -0.110806,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.148444,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.167504,
        "regime_survival": 0.0,
        "best_return": 0.031124,
        "worst_return": -0.162393,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": -0.085626,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.025994,
        "regime_survival": 0.0,
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        "worst_return": -0.165217,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
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        "regime_survival": 0.0,
        "best_return": -0.112368,
        "worst_return": -0.112368,
        "sufficient": false
      }
    ],
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-07-26",
        "end": "2024-09-06",
        "tenure": "Developing",
        "return": 0.09434,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "New",
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      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2024-10-25",
        "tenure": "New",
        "return": -0.05042,
        "active": false
      },
      {
        "regime": "deceleration",
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        "color": "amber",
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        "end": "2024-11-22",
        "tenure": "New",
        "return": -0.045045,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "tenure": "New",
        "return": -0.069307,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-27",
        "end": "2025-04-18",
        "tenure": "Established",
        "return": -0.024135,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-05-30",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "active": false
      },
      {
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      {
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      {
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      {
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      {
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        "active": true
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    ],
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      },
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        "gate": "mixed",
        "direction": 32.465874,
        "energy": 60.131008,
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      },
      {
        "date": "2026-07-24",
        "close": 18.9,
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        "typical_volume": 238331292.35,
        "trend": 18.985043,
        "fair_value": 22.445455,
        "relative_strength": -17.270058,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 24.961778,
        "energy": 49.057464,
        "activity_lines": [
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      },
      {
        "date": "2026-07-31",
        "close": 19.200001,
        "volume": 142057500,
        "typical_volume": 217162317.35,
        "trend": 19.003489,
        "fair_value": 22.405687,
        "relative_strength": -14.477667,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 20.822575,
        "energy": 28.571255,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 20.1,
        "volume": 422231500,
        "typical_volume": 220349807.35,
        "trend": 19.064818,
        "fair_value": 22.368805,
        "relative_strength": -9.3296,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 49.30128,
        "energy": 37.389215,
        "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."
    }
  }
}