{
  "ticker": {
    "uuid": "c80444d0-f9f4-4a2a-854d-3fef10139bbf",
    "symbol": "BSBM",
    "name": "Bangsaphan Barmill 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": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 91.795,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 76.73,
    "architecture_energy": 81.257,
    "architecture_maturity": 23.01,
    "architecture_confidence": 71.126,
    "architecture_tenure": "New",
    "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": 19.29,
        "rotation_up": 75.27,
        "upward_expansion": 88.83,
        "deceleration": 47.52,
        "rotation_down": 16.25,
        "downward_expansion": 24.83
      },
      "activity_lines": [
        0.686,
        0.647455,
        0.624857,
        0.612538
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 0.73,
    "trend_reference": 0.602,
    "distance_from_trend": 0.212625,
    "trend_direction": "Weakening",
    "fair_value": 0.688397,
    "distance_from_fair_value": 0.060434,
    "fair_value_direction": "Improving",
    "relative_strength": -0.906819,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.280702,
    "excess_performance": 0.088377,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.212625,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.015804,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.060434,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.117231,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.009068,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.126494,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.280702,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 6.006674,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2339300,
      "relative_activity": 1.237008,
      "balance": 6.006674,
      "dry_up": 2.763756,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.069547,
      "annualized_volatility": 0.37562,
      "from_high_reference": -0.064103,
      "from_low_reference": 0.351852
    },
    "levels": {
      "trend_reference": 0.602,
      "fair_value_reference": 0.688397,
      "structural_low": 0.54,
      "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": 5,
        "median_return": 0.0,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.005988,
        "regime_survival": 0.6,
        "best_return": 0.143712,
        "worst_return": -0.141361,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": -0.058908,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.069638,
        "regime_survival": 0.0,
        "best_return": -0.051948,
        "worst_return": -0.065868,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": -0.131776,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.220931,
        "regime_survival": 0.0,
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        "worst_return": -0.185629,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.23606,
        "positive_rate": 0.0,
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        "median_excess_return": -0.163195,
        "regime_survival": 0.0,
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        "worst_return": -0.407186,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "rotation_down",
        "label": "Rotation Down",
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        "end": "2022-02-25",
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        "active": false
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      {
        "regime": "downward_expansion",
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        "regime": "balance",
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        "active": false
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        "regime": "upward_expansion",
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        "regime": "downward_expansion",
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        "regime": "downward_expansion",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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      },
      {
        "date": "2026-05-22",
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      },
      {
        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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      {
        "date": "2026-06-12",
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      },
      {
        "date": "2026-06-26",
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      },
      {
        "date": "2026-07-03",
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        "energy": 12.051322,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 1061140.0,
        "trend": 0.598333,
        "fair_value": 0.689231,
        "relative_strength": -23.595739,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -38.692408,
        "energy": 19.932937,
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          0.586667,
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          0.592
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      },
      {
        "date": "2026-07-17",
        "close": 0.58,
        "volume": 744300,
        "typical_volume": 1052440.0,
        "trend": 0.596,
        "fair_value": 0.688333,
        "relative_strength": -23.701806,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -40.338553,
        "energy": 27.293805,
        "activity_lines": [
          0.583333,
          0.588545,
          0.592333,
          0.590817
        ]
      },
      {
        "date": "2026-07-24",
        "close": 0.7,
        "volume": 14781800,
        "typical_volume": 1726085.0,
        "trend": 0.598,
        "fair_value": 0.688269,
        "relative_strength": -7.605262,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "mixed",
        "direction": 40.203461,
        "energy": 40.842897,
        "activity_lines": [
          0.621333,
          0.608364,
          0.602905,
          0.597527
        ]
      },
      {
        "date": "2026-07-31",
        "close": 0.7,
        "volume": 3040700,
        "typical_volume": 1848000.0,
        "trend": 0.599333,
        "fair_value": 0.688205,
        "relative_strength": -5.997841,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 68.054039,
        "energy": 65.785435,
        "activity_lines": [
          0.652667,
          0.626182,
          0.61281,
          0.604108
        ]
      },
      {
        "date": "2026-08-07",
        "close": 0.73,
        "volume": 2339300,
        "typical_volume": 1891095.0,
        "trend": 0.602,
        "fair_value": 0.688397,
        "relative_strength": -0.906819,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 76.729528,
        "energy": 81.256886,
        "activity_lines": [
          0.686,
          0.647455,
          0.624857,
          0.612538
        ]
      }
    ],
    "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."
    }
  }
}