{
  "ticker": {
    "uuid": "5d42f708-5bf1-41f4-a02f-bdfa02be67ef",
    "symbol": "SPC",
    "name": "Saha Pathanapibul 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 84.109,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 65.38,
    "architecture_energy": 49.212,
    "architecture_maturity": 3.102,
    "architecture_confidence": 77.523,
    "architecture_tenure": "New",
    "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": 25.77,
        "rotation_up": 60.3,
        "upward_expansion": 84.83,
        "deceleration": 45.18,
        "rotation_down": 15.95,
        "downward_expansion": 9.16
      },
      "activity_lines": [
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 56.0,
    "trend_reference": 55.239083,
    "distance_from_trend": 0.013775,
    "trend_direction": "Weakening",
    "fair_value": 55.355871,
    "distance_from_fair_value": 0.011636,
    "fair_value_direction": "Improving",
    "relative_strength": -12.951906,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.010703,
    "excess_performance": -0.181622,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.013775,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.001703,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.011636,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.006401,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.129519,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.012101,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.010703,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.269285,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 136500,
      "relative_activity": 2.504978,
      "balance": 2.269285,
      "dry_up": 1.968656,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.012363,
      "annualized_volatility": 0.057501,
      "from_high_reference": -0.013216,
      "from_low_reference": 0.052239
    },
    "levels": {
      "trend_reference": 55.239083,
      "fair_value_reference": 55.355871,
      "structural_low": 53.219868,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 13,
        "median_return": 0.0,
        "positive_rate": 0.461538,
        "directional_follow_through": 0.461538,
        "median_excess_return": 0.024986,
        "regime_survival": 0.615385,
        "best_return": 0.03321,
        "worst_return": -0.036,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.0,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.003147,
        "regime_survival": 0.2,
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        "worst_return": -0.052419,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.038696,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.07583,
        "regime_survival": 0.0,
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        "worst_return": -0.068648,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "worst_return": -0.021642,
        "sufficient": false
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        "color": "amber",
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        "end": "2024-07-12",
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2025-02-07",
        "tenure": "Established",
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      },
      {
        "regime": "balance",
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        "regime": "upward_expansion",
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        "regime": "deceleration",
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        "energy": 25.259029,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 55.406986,
        "volume": 17200,
        "typical_volume": 33800.0,
        "trend": 55.305978,
        "fair_value": 55.47069,
        "relative_strength": -14.648523,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -22.79272,
        "energy": 20.294874,
        "activity_lines": [
          54.92096,
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 55.75,
        "volume": 62200,
        "typical_volume": 36625.0,
        "trend": 55.311157,
        "fair_value": 55.459641,
        "relative_strength": -14.161958,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -9.816198,
        "energy": 18.471985,
        "activity_lines": [
          55.278311,
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          54.970986,
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 55.5,
        "volume": 61500,
        "typical_volume": 39195.0,
        "trend": 55.323978,
        "fair_value": 55.441277,
        "relative_strength": -15.132493,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "mixed",
        "direction": 5.126114,
        "energy": 18.464092,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-22",
        "close": 55.25,
        "volume": 40600,
        "typical_volume": 40970.0,
        "trend": 55.320478,
        "fair_value": 55.424166,
        "relative_strength": -16.197335,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 12.91167,
        "energy": 20.578484,
        "activity_lines": [
          55.415662,
          55.076828,
          55.002843,
          55.167715
        ]
      },
      {
        "date": "2026-05-29",
        "close": 55.5,
        "volume": 61400,
        "typical_volume": 43205.0,
        "trend": 55.333298,
        "fair_value": 55.422938,
        "relative_strength": -16.904466,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 15.354506,
        "energy": 19.216374,
        "activity_lines": [
          55.460466,
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          55.179297
        ]
      },
      {
        "date": "2026-06-05",
        "close": 55.25,
        "volume": 16600,
        "typical_volume": 43740.0,
        "trend": 55.337786,
        "fair_value": 55.415824,
        "relative_strength": -17.469006,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 12.276911,
        "energy": 13.022295,
        "activity_lines": [
          55.383333,
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          55.044567,
          55.173923
        ]
      },
      {
        "date": "2026-06-12",
        "close": 55.0,
        "volume": 12200,
        "typical_volume": 43630.0,
        "trend": 55.317965,
        "fair_value": 55.405679,
        "relative_strength": -17.764603,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -21.458934,
        "energy": 11.140845,
        "activity_lines": [
          55.233333,
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      },
      {
        "date": "2026-06-19",
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        "volume": 1000,
        "typical_volume": 42845.0,
        "trend": 55.330786,
        "fair_value": 55.398739,
        "relative_strength": -15.289412,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 3.201463,
        "energy": 5.547045,
        "activity_lines": [
          55.3,
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 55.25,
        "volume": 4200,
        "typical_volume": 41850.0,
        "trend": 55.325553,
        "fair_value": 55.391624,
        "relative_strength": -13.391927,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -3.919492,
        "energy": 4.12494,
        "activity_lines": [
          55.283333,
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          55.096123,
          55.158662
        ]
      },
      {
        "date": "2026-07-03",
        "close": 55.5,
        "volume": 162730,
        "typical_volume": 49316.5,
        "trend": 55.312453,
        "fair_value": 55.386112,
        "relative_strength": -16.096209,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 3.170188,
        "energy": 4.830684,
        "activity_lines": [
          55.35,
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      },
      {
        "date": "2026-07-10",
        "close": 55.25,
        "volume": 64800,
        "typical_volume": 48396.5,
        "trend": 55.291019,
        "fair_value": 55.378998,
        "relative_strength": -16.370201,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 7.212017,
        "energy": 7.985767,
        "activity_lines": [
          55.333333,
          55.331818,
          55.160299,
          55.165888
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      },
      {
        "date": "2026-07-17",
        "close": 55.5,
        "volume": 92000,
        "typical_volume": 49376.5,
        "trend": 55.261717,
        "fair_value": 55.372058,
        "relative_strength": -16.39049,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 20.99817,
        "energy": 13.7726,
        "activity_lines": [
          55.4,
          55.354545,
          55.208869,
          55.17937
        ]
      },
      {
        "date": "2026-07-24",
        "close": 55.5,
        "volume": 112000,
        "typical_volume": 52281.5,
        "trend": 55.248617,
        "fair_value": 55.365118,
        "relative_strength": -16.13754,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 22.92365,
        "energy": 16.984845,
        "activity_lines": [
          55.433333,
          55.381818,
          55.258152,
          55.194743
        ]
      },
      {
        "date": "2026-07-31",
        "close": 55.5,
        "volume": 88600,
        "typical_volume": 51471.5,
        "trend": 55.235517,
        "fair_value": 55.359606,
        "relative_strength": -14.706819,
        "stage": 3,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 21.81102,
        "energy": 18.215848,
        "activity_lines": [
          55.466667,
          55.409091,
          55.305836,
          55.210962
        ]
      },
      {
        "date": "2026-08-07",
        "close": 56.0,
        "volume": 136500,
        "typical_volume": 54491.5,
        "trend": 55.239083,
        "fair_value": 55.355871,
        "relative_strength": -12.951906,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 65.37983,
        "energy": 49.212045,
        "activity_lines": [
          55.65,
          55.522727,
          55.396067,
          55.260283
        ]
      }
    ],
    "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."
    }
  }
}