{
  "ticker": {
    "uuid": "5301e9af-a553-4a6e-8955-411c2240763a",
    "symbol": "BAFS",
    "name": "Bangkok Aviation Fuel 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": 65.456,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 86.401,
    "architecture_energy": 71.056,
    "architecture_maturity": 63.349,
    "architecture_confidence": 74.865,
    "architecture_tenure": "Developing",
    "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": 7.66,
        "rotation_up": 77.89,
        "upward_expansion": 87.36,
        "deceleration": 65.31,
        "rotation_down": 13.24,
        "downward_expansion": 11.7
      },
      "activity_lines": [
        10.933333,
        10.569091,
        9.836042,
        9.440567
      ],
      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 11.6,
    "trend_reference": 9.04209,
    "distance_from_trend": 0.282889,
    "trend_direction": "Improving",
    "fair_value": 13.527773,
    "distance_from_fair_value": -0.142505,
    "fair_value_direction": "Improving",
    "relative_strength": 11.55039,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.360939,
    "excess_performance": 0.168614,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.282889,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.072051,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.142505,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.299924,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.115504,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.257938,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.360939,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.157223,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3144600,
      "relative_activity": 2.723847,
      "balance": 3.157223,
      "dry_up": 2.273727,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.060013,
      "annualized_volatility": 0.366049,
      "from_high_reference": -0.016949,
      "from_low_reference": 0.507369
    },
    "levels": {
      "trend_reference": 9.04209,
      "fair_value_reference": 13.527773,
      "structural_low": 7.695529,
      "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": 16,
        "median_return": 0.004,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.009291,
        "regime_survival": 0.625,
        "best_return": 0.195266,
        "worst_return": -0.168317,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.004871,
        "positive_rate": 0.5,
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        "median_excess_return": 0.0075,
        "regime_survival": 0.166667,
        "best_return": 0.115385,
        "worst_return": -0.103448,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.056059,
        "positive_rate": 0.75,
        "directional_follow_through": 0.75,
        "median_excess_return": 0.003118,
        "regime_survival": 0.25,
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        "worst_return": 0.0,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
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        "worst_return": -0.022667,
        "sufficient": false
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        "date": "2026-04-10",
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      },
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      },
      {
        "date": "2026-07-03",
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        "relative_strength": 1.973865,
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      },
      {
        "date": "2026-07-10",
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        "fair_value": 13.986566,
        "relative_strength": 3.169567,
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        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 93.463135,
        "energy": 96.970043,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 10.3,
        "volume": 2454100,
        "typical_volume": 1013320.0,
        "trend": 8.77667,
        "fair_value": 13.867924,
        "relative_strength": -2.561101,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.023238,
        "energy": 85.661537,
        "activity_lines": [
          10.333333,
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          9.262716,
          9.03188
        ]
      },
      {
        "date": "2026-07-24",
        "close": 10.6,
        "volume": 4209200,
        "typical_volume": 1062575.0,
        "trend": 8.854004,
        "fair_value": 13.751205,
        "relative_strength": 0.012881,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 72.512274,
        "energy": 71.85301,
        "activity_lines": [
          10.483333,
          10.085455,
          9.43127,
          9.149514
        ]
      },
      {
        "date": "2026-07-31",
        "close": 10.7,
        "volume": 691900,
        "typical_volume": 1028640.0,
        "trend": 8.934671,
        "fair_value": 13.632172,
        "relative_strength": 2.194264,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 70.796257,
        "energy": 66.014431,
        "activity_lines": [
          10.6,
          10.266364,
          9.596909,
          9.268611
        ]
      },
      {
        "date": "2026-08-07",
        "close": 11.6,
        "volume": 3144600,
        "typical_volume": 1154470.0,
        "trend": 9.04209,
        "fair_value": 13.527773,
        "relative_strength": 11.55039,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 86.400714,
        "energy": 71.056162,
        "activity_lines": [
          10.933333,
          10.569091,
          9.836042,
          9.440567
        ]
      }
    ],
    "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."
    }
  }
}