{
  "ticker": {
    "uuid": "65b2b63f-7b73-4738-b0ea-e7b6389a8058",
    "symbol": "BOL",
    "name": "Business Online 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": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 85.567,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Emerging rotation",
    "architecture_gate": "mixed",
    "architecture_direction": 37.406,
    "architecture_energy": 54.322,
    "architecture_maturity": 5.923,
    "architecture_confidence": 70.623,
    "architecture_tenure": "New",
    "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": 29.96,
        "rotation_up": 70.9,
        "upward_expansion": 51.19,
        "deceleration": 21.0,
        "rotation_down": 14.28,
        "downward_expansion": 23.86
      },
      "activity_lines": [
        5.1,
        5.043091,
        4.999333,
        5.006503
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 5.15,
    "trend_reference": 5.029114,
    "distance_from_trend": 0.024037,
    "trend_direction": "Weakening",
    "fair_value": 5.942004,
    "distance_from_fair_value": -0.133289,
    "fair_value_direction": "Improving",
    "relative_strength": -14.553841,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.053317,
    "excess_performance": -0.139008,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.024037,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.001524,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.133289,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.074348,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.145538,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.036441,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.053317,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.857685,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2339900,
      "relative_activity": 3.104819,
      "balance": 1.857685,
      "dry_up": 1.540069,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.018521,
      "annualized_volatility": 0.187664,
      "from_high_reference": -0.14892,
      "from_low_reference": 0.072429
    },
    "levels": {
      "trend_reference": 5.029114,
      "fair_value_reference": 5.942004,
      "structural_low": 4.86,
      "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": 1,
        "median_return": -0.112069,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.096818,
        "regime_survival": 0.0,
        "best_return": -0.112069,
        "worst_return": -0.112069,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 1,
        "median_return": -0.11541,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.044526,
        "regime_survival": 0.0,
        "best_return": -0.11541,
        "worst_return": -0.11541,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 1,
        "median_return": -0.11541,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.02717,
        "regime_survival": 0.0,
        "best_return": -0.11541,
        "worst_return": -0.11541,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.1784,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.002672,
        "regime_survival": 0.0,
        "best_return": -0.1784,
        "worst_return": -0.1784,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-01-20",
        "end": "2023-02-03",
        "tenure": "New",
        "return": 0.060345,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-02-10",
        "end": "2023-02-17",
        "tenure": "New",
        "return": -0.096491,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-02-24",
        "end": "2023-03-17",
        "tenure": "New",
        "return": -0.037252,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-03-24",
        "end": "2023-06-02",
        "tenure": "Developing",
        "return": 0.02,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-06-09",
        "end": "2023-10-20",
        "tenure": "Established",
        "return": -0.063871,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-10-27",
        "end": "2025-04-18",
        "tenure": "Extended",
        "return": -0.44629,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-25",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.018692,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-18",
        "end": "2025-10-17",
        "tenure": "Established",
        "return": -0.025606,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-24",
        "end": "2025-11-21",
        "tenure": "Developing",
        "return": -0.121739,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-11-28",
        "end": "2026-01-02",
        "tenure": "Developing",
        "return": 0.009804,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-09",
        "end": "2026-02-13",
        "tenure": "Developing",
        "return": 0.056075,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-02-20",
        "end": "2026-05-22",
        "tenure": "Established",
        "return": -0.079812,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-05-29",
        "end": "2026-07-24",
        "tenure": "Developing",
        "return": 0.040816,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.019802,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 1829470.0,
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      },
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      },
      {
        "date": "2026-04-17",
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        "fair_value": 6.331803,
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        "modifier": "Balance after decline",
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      {
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      },
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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        "relative_strength": -21.917164,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 6.084698,
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        "modifier": "Early contraction",
        "gate": "down",
        "direction": -62.08487,
        "energy": 65.743816,
        "activity_lines": [
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          4.957144,
          4.990192
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      },
      {
        "date": "2026-07-03",
        "close": 4.92,
        "volume": 219600,
        "typical_volume": 683280.0,
        "trend": 5.010189,
        "fair_value": 6.060376,
        "relative_strength": -21.123989,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.270507,
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        "activity_lines": [
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          4.984439
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      },
      {
        "date": "2026-07-10",
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        "volume": 2139900,
        "typical_volume": 685355.0,
        "trend": 5.017159,
        "fair_value": 6.036334,
        "relative_strength": -18.95747,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -16.307291,
        "energy": 13.394742,
        "activity_lines": [
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          4.953429,
          4.987007
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      },
      {
        "date": "2026-07-17",
        "close": 5.1,
        "volume": 965100,
        "typical_volume": 686275.0,
        "trend": 5.022568,
        "fair_value": 6.013167,
        "relative_strength": -18.348183,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": 12.905491,
        "energy": 23.850961,
        "activity_lines": [
          5.012,
          4.965636,
          4.965143,
          4.992352
        ]
      },
      {
        "date": "2026-07-24",
        "close": 5.1,
        "volume": 583800,
        "typical_volume": 635635.0,
        "trend": 5.027977,
        "fair_value": 5.989999,
        "relative_strength": -17.984484,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "mixed",
        "direction": 31.816494,
        "energy": 38.135333,
        "activity_lines": [
          5.054,
          4.993818,
          4.976857,
          4.997348
        ]
      },
      {
        "date": "2026-07-31",
        "close": 5.05,
        "volume": 753800,
        "typical_volume": 648850.0,
        "trend": 5.030106,
        "fair_value": 5.96651,
        "relative_strength": -17.303421,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 22.48748,
        "energy": 36.862281,
        "activity_lines": [
          5.064667,
          5.010727,
          4.983333,
          4.998768
        ]
      },
      {
        "date": "2026-08-07",
        "close": 5.15,
        "volume": 2339900,
        "typical_volume": 753635.0,
        "trend": 5.029114,
        "fair_value": 5.942004,
        "relative_strength": -14.553841,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 37.405717,
        "energy": 54.321885,
        "activity_lines": [
          5.1,
          5.043091,
          4.999333,
          5.006503
        ]
      }
    ],
    "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."
    }
  }
}