{
  "ticker": {
    "uuid": "b6ba44bf-2cc8-4359-a661-9dbf5e901fa5",
    "symbol": "CPANEL",
    "name": "CPanel 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": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -63.841,
    "architecture_energy": 63.153,
    "architecture_maturity": 100.0,
    "architecture_confidence": 93.542,
    "architecture_tenure": "Established",
    "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": 11.56,
        "rotation_up": 29.93,
        "upward_expansion": 12.0,
        "deceleration": 60.86,
        "rotation_down": 50.04,
        "downward_expansion": 83.0
      },
      "activity_lines": [
        1.198667,
        1.203636,
        1.274333,
        1.400108
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      "activity_state": "Wide",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.5
    },
    "latest_close": 1.21,
    "trend_reference": 1.577333,
    "distance_from_trend": -0.232883,
    "trend_direction": "Weakening",
    "fair_value": 3.746548,
    "distance_from_fair_value": -0.677036,
    "fair_value_direction": "Weakening",
    "relative_strength": -45.676053,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.379487,
    "excess_performance": -0.571812,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.232883,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.180606,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.677036,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.028716,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.456761,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.062635,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.379487,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.47481,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 96300,
      "relative_activity": 0.382773,
      "balance": 0.47481,
      "dry_up": 0.557764,
      "accumulation_observations": 1,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.057216,
      "annualized_volatility": 0.408035,
      "from_high_reference": -0.555147,
      "from_low_reference": 0.043103
    },
    "levels": {
      "trend_reference": 1.577333,
      "fair_value_reference": 3.746548,
      "structural_low": 1.16,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 35,
        "median_return": -0.050459,
        "positive_rate": 0.257143,
        "directional_follow_through": 0.742857,
        "median_excess_return": -0.051103,
        "regime_survival": 0.942857,
        "best_return": 0.214953,
        "worst_return": -0.23,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "positive_rate": 0.0,
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        "regime_survival": 0.909091,
        "best_return": 0.0,
        "worst_return": -0.29902,
        "sufficient": true
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        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.229412,
        "positive_rate": 0.0,
        "directional_follow_through": 1.0,
        "median_excess_return": -0.138755,
        "regime_survival": 0.8,
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        "worst_return": -0.324324,
        "sufficient": true
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      {
        "horizon": "Full cycle",
        "sample_count": 3,
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        "positive_rate": 0.0,
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        "sufficient": false
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        "color": "blue",
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        "end": "2023-06-09",
        "tenure": "Developing",
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        "active": false
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      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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      {
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        "tenure": "New",
        "return": 0.010363,
        "active": false
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      {
        "regime": "downward_expansion",
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        "active": true
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        "fair_value": 4.322117,
        "relative_strength": -39.412505,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.608943,
        "energy": 73.853414,
        "activity_lines": [
          1.538,
          1.618,
          1.766333,
          1.878129
        ]
      },
      {
        "date": "2026-05-15",
        "close": 1.47,
        "volume": 177200,
        "typical_volume": 294940.0,
        "trend": 2.000667,
        "fair_value": 4.273243,
        "relative_strength": -41.258511,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -71.604796,
        "energy": 61.35458,
        "activity_lines": [
          1.515333,
          1.573091,
          1.727143,
          1.842237
        ]
      },
      {
        "date": "2026-05-22",
        "close": 1.43,
        "volume": 247900,
        "typical_volume": 307255.0,
        "trend": 1.965667,
        "fair_value": 4.221931,
        "relative_strength": -42.794413,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -72.741452,
        "energy": 61.565801,
        "activity_lines": [
          1.483333,
          1.530545,
          1.687619,
          1.805419
        ]
      },
      {
        "date": "2026-05-29",
        "close": 1.2,
        "volume": 595100,
        "typical_volume": 323265.0,
        "trend": 1.925,
        "fair_value": 4.171327,
        "relative_strength": -52.094755,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -87.120773,
        "energy": 70.875102,
        "activity_lines": [
          1.382,
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          1.629762,
          1.756022
        ]
      },
      {
        "date": "2026-06-05",
        "close": 1.24,
        "volume": 22600,
        "typical_volume": 320350.0,
        "trend": 1.885667,
        "fair_value": 4.127214,
        "relative_strength": -50.070369,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -78.819947,
        "energy": 87.336116,
        "activity_lines": [
          1.316667,
          1.404364,
          1.580286,
          1.711828
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      },
      {
        "date": "2026-06-12",
        "close": 1.24,
        "volume": 2300,
        "typical_volume": 308280.0,
        "trend": 1.849667,
        "fair_value": 4.082166,
        "relative_strength": -49.481466,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -74.69955,
        "energy": 88.948177,
        "activity_lines": [
          1.272667,
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          1.670172
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      },
      {
        "date": "2026-06-19",
        "close": 1.27,
        "volume": 17900,
        "typical_volume": 304230.0,
        "trend": 1.819333,
        "fair_value": 4.038869,
        "relative_strength": -46.708772,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -68.057529,
        "energy": 87.428474,
        "activity_lines": [
          1.257333,
          1.336182,
          1.496048,
          1.632774
        ]
      },
      {
        "date": "2026-06-26",
        "close": 1.21,
        "volume": 18400,
        "typical_volume": 300690.0,
        "trend": 1.782333,
        "fair_value": 3.997369,
        "relative_strength": -47.325358,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -72.650648,
        "energy": 87.214843,
        "activity_lines": [
          1.235333,
          1.301455,
          1.454429,
          1.593462
        ]
      },
      {
        "date": "2026-07-03",
        "close": 1.19,
        "volume": 11200,
        "typical_volume": 292975.0,
        "trend": 1.748,
        "fair_value": 3.956053,
        "relative_strength": -49.673948,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -77.137725,
        "energy": 91.070804,
        "activity_lines": [
          1.221333,
          1.269091,
          1.414429,
          1.555247
        ]
      },
      {
        "date": "2026-07-10",
        "close": 1.18,
        "volume": 72600,
        "typical_volume": 281230.0,
        "trend": 1.71,
        "fair_value": 3.914985,
        "relative_strength": -49.728867,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -75.464893,
        "energy": 89.996968,
        "activity_lines": [
          1.204667,
          1.241273,
          1.377095,
          1.518602
        ]
      },
      {
        "date": "2026-07-17",
        "close": 1.2,
        "volume": 273100,
        "typical_volume": 284095.0,
        "trend": 1.675333,
        "fair_value": 3.871862,
        "relative_strength": -48.815596,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -66.653099,
        "energy": 84.161043,
        "activity_lines": [
          1.198667,
          1.224,
          1.345762,
          1.485699
        ]
      },
      {
        "date": "2026-07-24",
        "close": 1.21,
        "volume": 145200,
        "typical_volume": 274170.0,
        "trend": 1.642333,
        "fair_value": 3.829427,
        "relative_strength": -47.900038,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -65.152807,
        "energy": 83.593692,
        "activity_lines": [
          1.198667,
          1.214364,
          1.319095,
          1.455677
        ]
      },
      {
        "date": "2026-07-31",
        "close": 1.18,
        "volume": 46700,
        "typical_volume": 252490.0,
        "trend": 1.609,
        "fair_value": 3.786489,
        "relative_strength": -47.987426,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -70.274305,
        "energy": 67.02169,
        "activity_lines": [
          1.192667,
          1.204,
          1.293333,
          1.425849
        ]
      },
      {
        "date": "2026-08-07",
        "close": 1.21,
        "volume": 96300,
        "typical_volume": 251585.0,
        "trend": 1.577333,
        "fair_value": 3.746548,
        "relative_strength": -45.676053,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -63.840596,
        "energy": 63.152644,
        "activity_lines": [
          1.198667,
          1.203636,
          1.274333,
          1.400108
        ]
      }
    ],
    "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."
    }
  }
}