{
  "ticker": {
    "uuid": "7c185115-5b1a-4460-80c1-6824f437279e",
    "symbol": "TPA",
    "name": "Thai Poly Acrylic 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": 53.005,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "up",
    "architecture_direction": 14.475,
    "architecture_energy": 6.817,
    "architecture_maturity": 19.502,
    "architecture_confidence": 59.425,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 64.84,
        "rotation_up": 32.73,
        "upward_expansion": 61.08,
        "deceleration": 78.01,
        "rotation_down": 24.7,
        "downward_expansion": 15.75
      },
      "activity_lines": [
        2.610667,
        2.609818,
        2.610762,
        2.595527
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.166667
    },
    "latest_close": 2.5,
    "trend_reference": 2.586,
    "distance_from_trend": -0.033256,
    "trend_direction": "Improving",
    "fair_value": 3.376573,
    "distance_from_fair_value": -0.259604,
    "fair_value_direction": "Improving",
    "relative_strength": -18.111051,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.045802,
    "excess_performance": -0.238127,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.033256,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.000774,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.259604,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.035267,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.181111,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.001356,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.045802,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.776139,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 75800,
      "relative_activity": 2.473487,
      "balance": 0.776139,
      "dry_up": 0.728504,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.057231,
      "annualized_volatility": 0.33008,
      "from_high_reference": -0.21875,
      "from_low_reference": 0.136364
    },
    "levels": {
      "trend_reference": 2.586,
      "fair_value_reference": 3.376573,
      "structural_low": 2.2,
      "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": 28,
        "median_return": 0.0,
        "positive_rate": 0.392857,
        "directional_follow_through": 0.392857,
        "median_excess_return": -0.019327,
        "regime_survival": 0.678571,
        "best_return": 0.091603,
        "worst_return": -0.101942,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": -0.025448,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.041885,
        "regime_survival": 0.4,
        "best_return": 0.042453,
        "worst_return": -0.257282,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": -0.042373,
        "positive_rate": 0.142857,
        "directional_follow_through": 0.142857,
        "median_excess_return": -0.029355,
        "regime_survival": 0.428571,
        "best_return": 0.086444,
        "worst_return": -0.378641,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.156763,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.190627,
        "regime_survival": 0.25,
        "best_return": -0.050399,
        "worst_return": -0.4789,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-01-13",
        "end": "2023-03-10",
        "tenure": "Developing",
        "return": -0.08871,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2023-03-17",
        "end": "2023-03-24",
        "tenure": "New",
        "return": -0.035088,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-03-31",
        "end": "2024-03-29",
        "tenure": "Extended",
        "return": -0.238938,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-04-05",
        "end": "2024-05-03",
        "tenure": "Developing",
        "return": 0.07907,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-05-10",
        "end": "2024-05-31",
        "tenure": "New",
        "return": -0.046512,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-06-07",
        "end": "2024-09-27",
        "tenure": "Established",
        "return": 0.068293,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-10-04",
        "end": "2024-11-08",
        "tenure": "Developing",
        "return": -0.081448,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-12-06",
        "tenure": "New",
        "return": -0.121359,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-13",
        "end": "2025-06-27",
        "tenure": "Extended",
        "return": -0.243243,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-07-04",
        "end": "2026-03-20",
        "tenure": "Extended",
        "return": -0.136691,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-03-27",
        "end": "2026-05-15",
        "tenure": "Developing",
        "return": 0.092437,
        "active": false
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      {
        "regime": "balance",
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        "color": "blue",
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        "return": 0.0,
        "active": false
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      {
        "regime": "rotation_up",
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      {
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        "return": -0.007937,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "trend": 5.222586,
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        "relative_strength": -20.124567,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -36.613201,
        "energy": 18.388753,
        "activity_lines": [
          2.526667,
          2.513091,
          2.544286,
          2.562753
        ]
      },
      {
        "date": "2026-05-08",
        "close": 2.52,
        "volume": 7400,
        "typical_volume": 37630.0,
        "trend": 2.581333,
        "fair_value": 3.573817,
        "relative_strength": -18.246645,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -31.764311,
        "energy": 14.455708,
        "activity_lines": [
          2.52,
          2.512727,
          2.539619,
          2.558409
        ]
      },
      {
        "date": "2026-05-15",
        "close": 2.6,
        "volume": 37300,
        "typical_volume": 39395.0,
        "trend": 2.578,
        "fair_value": 3.556217,
        "relative_strength": -16.293345,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -24.893946,
        "energy": 14.13595,
        "activity_lines": [
          2.533333,
          2.529455,
          2.543048,
          2.559613
        ]
      },
      {
        "date": "2026-05-22",
        "close": 2.7,
        "volume": 50900,
        "typical_volume": 41935.0,
        "trend": 2.578,
        "fair_value": 3.539561,
        "relative_strength": -13.875786,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 16.054317,
        "energy": 9.524397,
        "activity_lines": [
          2.586667,
          2.564,
          2.555905,
          2.567484
        ]
      },
      {
        "date": "2026-05-29",
        "close": 2.7,
        "volume": 48400,
        "typical_volume": 44275.0,
        "trend": 2.584,
        "fair_value": 3.523209,
        "relative_strength": -15.115134,
        "stage": 1,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 14.727743,
        "energy": 18.95278,
        "activity_lines": [
          2.64,
          2.594909,
          2.568476,
          2.575355
        ]
      },
      {
        "date": "2026-06-05",
        "close": 2.72,
        "volume": 14600,
        "typical_volume": 44355.0,
        "trend": 2.59,
        "fair_value": 3.506985,
        "relative_strength": -14.823982,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 18.935963,
        "energy": 30.920772,
        "activity_lines": [
          2.681333,
          2.624,
          2.582857,
          2.584129
        ]
      },
      {
        "date": "2026-06-12",
        "close": 2.64,
        "volume": 0,
        "typical_volume": 43175.0,
        "trend": 2.59,
        "fair_value": 3.490248,
        "relative_strength": -17.249286,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 24.625478,
        "energy": 33.488852,
        "activity_lines": [
          2.678667,
          2.632364,
          2.589143,
          2.587355
        ]
      },
      {
        "date": "2026-06-19",
        "close": 2.66,
        "volume": 100,
        "typical_volume": 41990.0,
        "trend": 2.59,
        "fair_value": 3.475762,
        "relative_strength": -14.990405,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 50.403251,
        "energy": 39.015408,
        "activity_lines": [
          2.674667,
          2.640364,
          2.596762,
          2.591871
        ]
      },
      {
        "date": "2026-06-26",
        "close": 2.5,
        "volume": 65500,
        "typical_volume": 44670.0,
        "trend": 2.589333,
        "fair_value": 3.459037,
        "relative_strength": -17.773863,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": -5.095184,
        "energy": 4.777135,
        "activity_lines": [
          2.613333,
          2.62,
          2.588857,
          2.586065
        ]
      },
      {
        "date": "2026-07-03",
        "close": 2.52,
        "volume": 100,
        "typical_volume": 40870.0,
        "trend": 2.586,
        "fair_value": 3.443957,
        "relative_strength": -19.945152,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -10.163246,
        "energy": 11.757907,
        "activity_lines": [
          2.572,
          2.606909,
          2.583429,
          2.581591
        ]
      },
      {
        "date": "2026-07-10",
        "close": 2.7,
        "volume": 7700,
        "typical_volume": 29725.0,
        "trend": 2.588,
        "fair_value": 3.428818,
        "relative_strength": -14.020386,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 39.900371,
        "energy": 20.170599,
        "activity_lines": [
          2.602667,
          2.624727,
          2.596095,
          2.588946
        ]
      },
      {
        "date": "2026-07-17",
        "close": 2.6,
        "volume": 7900,
        "typical_volume": 28780.0,
        "trend": 2.587333,
        "fair_value": 3.41425,
        "relative_strength": -17.541324,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 25.392897,
        "energy": 15.394884,
        "activity_lines": [
          2.601333,
          2.62,
          2.598571,
          2.58972
        ]
      },
      {
        "date": "2026-07-24",
        "close": 2.68,
        "volume": 5100,
        "typical_volume": 28990.0,
        "trend": 2.590667,
        "fair_value": 3.402318,
        "relative_strength": -14.744114,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 48.62964,
        "energy": 23.224434,
        "activity_lines": [
          2.629333,
          2.628364,
          2.608952,
          2.595699
        ]
      },
      {
        "date": "2026-07-31",
        "close": 2.68,
        "volume": 500,
        "typical_volume": 28495.0,
        "trend": 2.592,
        "fair_value": 3.390265,
        "relative_strength": -13.344497,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 50.860206,
        "energy": 38.37779,
        "activity_lines": [
          2.656,
          2.635273,
          2.618857,
          2.601462
        ]
      },
      {
        "date": "2026-08-07",
        "close": 2.5,
        "volume": 75800,
        "typical_volume": 30645.0,
        "trend": 2.586,
        "fair_value": 3.376573,
        "relative_strength": -18.111051,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 14.475023,
        "energy": 6.816931,
        "activity_lines": [
          2.610667,
          2.609818,
          2.610762,
          2.595527
        ]
      }
    ],
    "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."
    }
  }
}