{
  "ticker": {
    "uuid": "9b70a96c-18c3-4845-9fc9-822faea79377",
    "symbol": "FTREIT",
    "name": "Frasers Property Thailand Industrial Freehold & Leasehold REIT",
    "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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 81.69,
    "architecture_energy": 91.704,
    "architecture_maturity": 37.524,
    "architecture_confidence": 71.918,
    "architecture_tenure": "Established",
    "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": 1.21,
        "rotation_up": 85.6,
        "upward_expansion": 99.75,
        "deceleration": 39.08,
        "rotation_down": 8.89,
        "downward_expansion": 21.75
      },
      "activity_lines": [
        12.706667,
        12.410909,
        12.04214,
        11.796539
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 12.9,
    "trend_reference": 11.527654,
    "distance_from_trend": 0.119048,
    "trend_direction": "Improving",
    "fair_value": 9.362529,
    "distance_from_fair_value": 0.377833,
    "fair_value_direction": "Improving",
    "relative_strength": 2.937474,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.129744,
    "excess_performance": -0.062581,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.119048,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.045759,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.377833,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.100696,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.029375,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.030515,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.129744,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.923497,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 9555100,
      "relative_activity": 1.418864,
      "balance": 0.923497,
      "dry_up": 1.238056,
      "accumulation_observations": 2,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.027889,
      "annualized_volatility": 0.18089,
      "from_high_reference": -0.007692,
      "from_low_reference": 0.508172
    },
    "levels": {
      "trend_reference": 11.527654,
      "fair_value_reference": 9.362529,
      "structural_low": 10.229579,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 17,
        "median_return": 0.0,
        "positive_rate": 0.470588,
        "directional_follow_through": 0.470588,
        "median_excess_return": -0.00444,
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        "best_return": 0.083333,
        "worst_return": -0.085172,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.027104,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
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        "regime_survival": 0.375,
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        "worst_return": -0.161447,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.045453,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
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        "regime_survival": 0.2,
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        "worst_return": -0.065098,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "worst_return": -0.145914,
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      }
    ],
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      {
        "regime": "balance",
        "label": "Balance",
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        "regime": "rotation_down",
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      {
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      },
      {
        "date": "2026-04-24",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 7315895.0,
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        "fair_value": 9.284073,
        "relative_strength": -2.795518,
        "stage": 2,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 77.451065,
        "energy": 82.292104,
        "activity_lines": [
          12.14,
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      },
      {
        "date": "2026-07-24",
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        "volume": 5999600,
        "typical_volume": 6754705.0,
        "trend": 11.419104,
        "fair_value": 9.307192,
        "relative_strength": -2.368055,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 77.001036,
        "energy": 84.630314,
        "activity_lines": [
          12.26,
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      },
      {
        "date": "2026-07-31",
        "close": 13.0,
        "volume": 6060400,
        "typical_volume": 6573010.0,
        "trend": 11.47182,
        "fair_value": 9.335181,
        "relative_strength": 3.29339,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 92.51613,
        "energy": 95.520821,
        "activity_lines": [
          12.54,
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      },
      {
        "date": "2026-08-07",
        "close": 12.9,
        "volume": 9555100,
        "typical_volume": 6734330.0,
        "trend": 11.527654,
        "fair_value": 9.362529,
        "relative_strength": 2.937474,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 81.689563,
        "energy": 91.703693,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}