{
  "ticker": {
    "uuid": "91ba455a-ccf1-45a0-acd6-34019e4c934c",
    "symbol": "CM",
    "name": "Chiangmai Frozen Foods 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": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 56.407,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -37.085,
    "architecture_energy": 22.618,
    "architecture_maturity": 88.545,
    "architecture_confidence": 54.647,
    "architecture_tenure": "Extended",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 33.42,
        "rotation_up": 24.23,
        "upward_expansion": 15.6,
        "deceleration": 63.7,
        "rotation_down": 39.37,
        "downward_expansion": 63.26
      },
      "activity_lines": [
        1.541333,
        1.540182,
        1.554936,
        1.566672
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 1.57,
    "trend_reference": 1.580529,
    "distance_from_trend": -0.006662,
    "trend_direction": "Weakening",
    "fair_value": 1.796494,
    "distance_from_fair_value": -0.126076,
    "fair_value_direction": "Improving",
    "relative_strength": -16.50282,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.0179,
    "excess_performance": -0.210225,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.006662,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.022572,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.126076,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.002444,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.165028,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.007703,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.0179,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.938466,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 3108200,
      "relative_activity": 10.182974,
      "balance": 3.938466,
      "dry_up": 3.222927,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.033317,
      "annualized_volatility": 0.1357,
      "from_high_reference": -0.13469,
      "from_low_reference": 0.060811
    },
    "levels": {
      "trend_reference": 1.580529,
      "fair_value_reference": 1.796494,
      "structural_low": 1.48,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 32,
        "median_return": -0.0151,
        "positive_rate": 0.28125,
        "directional_follow_through": 0.625,
        "median_excess_return": -0.009272,
        "regime_survival": 0.90625,
        "best_return": 0.15942,
        "worst_return": -0.107692,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": -0.028846,
        "positive_rate": 0.181818,
        "directional_follow_through": 0.818182,
        "median_excess_return": -0.076386,
        "regime_survival": 0.727273,
        "best_return": 0.074146,
        "worst_return": -0.194245,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.070568,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.666667,
        "median_excess_return": -0.045212,
        "regime_survival": 0.5,
        "best_return": 0.049311,
        "worst_return": -0.208334,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.169296,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.06709,
        "regime_survival": 0.333333,
        "best_return": -0.083916,
        "worst_return": -0.175572,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2022-05-13",
        "end": "2022-08-05",
        "tenure": "Established",
        "return": -0.006211,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2022-08-12",
        "end": "2022-10-21",
        "tenure": "Developing",
        "return": -0.05921,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2022-10-28",
        "end": "2023-08-25",
        "tenure": "Extended",
        "return": -0.234043,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-09-01",
        "end": "2023-09-22",
        "tenure": "New",
        "return": 0.12037,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2023-09-29",
        "end": "2023-10-13",
        "tenure": "New",
        "return": -0.026785,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-10-20",
        "end": "2024-01-19",
        "tenure": "Established",
        "return": 0.097088,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-01-26",
        "end": "2024-07-12",
        "tenure": "Established",
        "return": 0.058048,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-07-19",
        "end": "2024-10-18",
        "tenure": "Established",
        "return": -0.036036,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-10-25",
        "end": "2025-05-09",
        "tenure": "Extended",
        "return": -0.15455,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-16",
        "end": "2025-07-11",
        "tenure": "Developing",
        "return": 0.02381,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-08-29",
        "tenure": "Developing",
        "return": -0.045714,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-28",
        "tenure": "Established",
        "return": -0.017341,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "return": -0.041176,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "return": -0.0179,
        "active": true
      }
    ],
    "chart_path": [
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      },
      {
        "date": "2026-04-24",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
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        "date": "2026-05-22",
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      },
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        "date": "2026-05-29",
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        "typical_volume": 392950.0,
        "trend": 1.617029,
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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      },
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        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "trend": 1.602099,
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        "date": "2026-07-10",
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        "stage": 4,
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      },
      {
        "date": "2026-07-17",
        "close": 1.51,
        "volume": 424900,
        "typical_volume": 353705.0,
        "trend": 1.591608,
        "fair_value": 1.802974,
        "relative_strength": -22.61068,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -71.199917,
        "energy": 76.340847,
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          1.522667,
          1.542909,
          1.562341,
          1.574465
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.53,
        "volume": 347100,
        "typical_volume": 344730.0,
        "trend": 1.586706,
        "fair_value": 1.800935,
        "relative_strength": -21.218515,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -62.084254,
        "energy": 69.752104,
        "activity_lines": [
          1.521333,
          1.538,
          1.558161,
          1.57049
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      },
      {
        "date": "2026-07-31",
        "close": 1.54,
        "volume": 54800,
        "typical_volume": 336460.0,
        "trend": 1.582464,
        "fair_value": 1.798732,
        "relative_strength": -19.191111,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -58.779351,
        "energy": 55.166607,
        "activity_lines": [
          1.525333,
          1.535818,
          1.555074,
          1.567477
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.57,
        "volume": 3108200,
        "typical_volume": 305235.0,
        "trend": 1.580529,
        "fair_value": 1.796494,
        "relative_strength": -16.50282,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -37.0846,
        "energy": 22.618425,
        "activity_lines": [
          1.541333,
          1.540182,
          1.554936,
          1.566672
        ]
      }
    ],
    "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."
    }
  }
}