{
  "ticker": {
    "uuid": "9bb59abb-7d9f-4aff-bd12-a17d01381023",
    "symbol": "SPCG",
    "name": "SPCG 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": 58.622,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 41.693,
    "architecture_energy": 58.281,
    "architecture_maturity": 7.971,
    "architecture_confidence": 60.503,
    "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": 34.83,
        "rotation_up": 70.85,
        "upward_expansion": 61.33,
        "deceleration": 21.66,
        "rotation_down": 16.92,
        "downward_expansion": 19.67
      },
      "activity_lines": [
        9.233333,
        9.132727,
        9.03,
        9.022783
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 9.3,
    "trend_reference": 9.076333,
    "distance_from_trend": 0.024643,
    "trend_direction": "Improving",
    "fair_value": 7.390197,
    "distance_from_fair_value": 0.258424,
    "fair_value_direction": "Improving",
    "relative_strength": -4.718599,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.013038,
    "excess_performance": -0.205363,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.024643,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.0201,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.258424,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.020336,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.047186,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.054906,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.013038,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.232323,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 6011400,
      "relative_activity": 2.338884,
      "balance": 2.232323,
      "dry_up": 1.928109,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.0244,
      "annualized_volatility": 0.194086,
      "from_high_reference": -0.070531,
      "from_low_reference": 0.429307
    },
    "levels": {
      "trend_reference": 9.076333,
      "fair_value_reference": 7.390197,
      "structural_low": 8.548571,
      "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": 3,
        "median_return": -0.027211,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.00091,
        "regime_survival": 0.0,
        "best_return": -0.018868,
        "worst_return": -0.058823,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": -0.098762,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.008248,
        "regime_survival": 0.0,
        "best_return": 0.056604,
        "worst_return": -0.285714,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.127147,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.04505,
        "regime_survival": 0.0,
        "best_return": 0.279644,
        "worst_return": -0.19209,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.098762,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.087493,
        "regime_survival": 0.0,
        "best_return": 0.419448,
        "worst_return": -0.255811,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-12-01",
        "end": "2024-03-15",
        "tenure": "Established",
        "return": 0.054393,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2024-03-22",
        "end": "2024-04-05",
        "tenure": "New",
        "return": -0.058823,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-04-12",
        "end": "2024-11-01",
        "tenure": "Extended",
        "return": -0.184458,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-08",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": -0.063218,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-01-17",
        "end": "2025-02-07",
        "tenure": "New",
        "return": -0.01875,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-14",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": 0.081584,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-28",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.059211,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-16",
        "end": "2025-05-23",
        "tenure": "New",
        "return": 0.006289,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-30",
        "end": "2025-10-24",
        "tenure": "Established",
        "return": 0.088357,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-31",
        "end": "2025-11-14",
        "tenure": "New",
        "return": 0.168675,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-11-21",
        "end": "2026-03-13",
        "tenure": "Established",
        "return": 0.099055,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-20",
        "end": "2026-05-22",
        "tenure": "Developing",
        "return": 0.005714,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-29",
        "end": "2026-07-17",
        "tenure": "Developing",
        "return": 0.056497,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.016393,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 8.128099,
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        "typical_volume": 1353905.0,
        "trend": 8.338002,
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      },
      {
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      },
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      },
      {
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      },
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      },
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 2781415.0,
        "trend": 9.069429,
        "fair_value": 7.366006,
        "relative_strength": -5.264359,
        "stage": 3,
        "regime": "balance",
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        "gate": "mixed",
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        "energy": 38.596752,
        "activity_lines": [
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      },
      {
        "date": "2026-07-24",
        "close": 9.15,
        "volume": 4432100,
        "typical_volume": 2754030.0,
        "trend": 9.070048,
        "fair_value": 7.374592,
        "relative_strength": -7.656988,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 18.829588,
        "energy": 38.736762,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 9.2,
        "volume": 1913500,
        "typical_volume": 2593935.0,
        "trend": 9.075571,
        "fair_value": 7.382277,
        "relative_strength": -6.20948,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 23.186644,
        "energy": 46.875356,
        "activity_lines": [
          9.18,
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          9.008304
        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.3,
        "volume": 6011400,
        "typical_volume": 2570200.0,
        "trend": 9.076333,
        "fair_value": 7.390197,
        "relative_strength": -4.718599,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 41.692631,
        "energy": 58.281296,
        "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."
    }
  }
}