{
  "ticker": {
    "uuid": "d66a639d-e539-4ffe-986e-135d6b98415e",
    "symbol": "DEMCO",
    "name": "Demco 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": 76.126,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 59.386,
    "architecture_energy": 47.909,
    "architecture_maturity": 71.71,
    "architecture_confidence": 50.607,
    "architecture_tenure": "Developing",
    "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": 24.38,
        "rotation_up": 45.66,
        "upward_expansion": 74.65,
        "deceleration": 71.43,
        "rotation_down": 27.43,
        "downward_expansion": 12.65
      },
      "activity_lines": [
        3.485333,
        3.482182,
        3.157524,
        2.942796
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 3.34,
    "trend_reference": 2.724667,
    "distance_from_trend": 0.225838,
    "trend_direction": "Improving",
    "fair_value": 2.942692,
    "distance_from_fair_value": 0.135015,
    "fair_value_direction": "Improving",
    "relative_strength": -6.444935,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.336,
    "excess_performance": 0.143675,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.225838,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.003191,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.135015,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.346793,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.064449,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.214002,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.336,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.344103,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 1017400,
      "relative_activity": 0.409412,
      "balance": 3.344103,
      "dry_up": 0.894204,
      "accumulation_observations": 4,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.108706,
      "annualized_volatility": 0.502807,
      "from_high_reference": -0.197115,
      "from_low_reference": 0.605769
    },
    "levels": {
      "trend_reference": 2.724667,
      "fair_value_reference": 2.942692,
      "structural_low": 2.08,
      "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": 15,
        "median_return": -0.024096,
        "positive_rate": 0.466667,
        "directional_follow_through": 0.466667,
        "median_excess_return": 0.001681,
        "regime_survival": 0.733333,
        "best_return": 0.261574,
        "worst_return": -0.291457,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 6,
        "median_return": -0.113954,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.090521,
        "regime_survival": 0.333333,
        "best_return": 0.460396,
        "worst_return": -0.361111,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": -0.192764,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.30208,
        "regime_survival": 0.0,
        "best_return": 0.311881,
        "worst_return": -0.323529,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.348411,
        "positive_rate": 0.0,
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        "median_excess_return": -0.400569,
        "regime_survival": 0.0,
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        "worst_return": -0.584951,
        "sufficient": false
      }
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        "regime": "balance",
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        "regime": "downward_expansion",
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        "regime": "deceleration",
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      },
      {
        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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      },
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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": "2026-06-05",
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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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        "typical_volume": 1969790.0,
        "trend": 2.588667,
        "fair_value": 2.926154,
        "relative_strength": -1.767556,
        "stage": 3,
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 2120790.0,
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        "fair_value": 2.930897,
        "relative_strength": 6.715864,
        "stage": 3,
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        "modifier": "Early expansion",
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        "energy": 93.748761,
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          3.536,
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      },
      {
        "date": "2026-07-17",
        "close": 3.68,
        "volume": 6095900,
        "typical_volume": 2383090.0,
        "trend": 2.641333,
        "fair_value": 2.934744,
        "relative_strength": 2.225381,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 72.448432,
        "energy": 87.835177,
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          3.634667,
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          2.959714,
          2.791484
        ]
      },
      {
        "date": "2026-07-24",
        "close": 3.56,
        "volume": 1359100,
        "typical_volume": 2430595.0,
        "trend": 2.666,
        "fair_value": 2.937821,
        "relative_strength": -1.844669,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 66.880595,
        "energy": 65.346617,
        "activity_lines": [
          3.637333,
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          3.042095,
          2.850753
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      },
      {
        "date": "2026-07-31",
        "close": 3.44,
        "volume": 416100,
        "typical_volume": 2441325.0,
        "trend": 2.687333,
        "fair_value": 2.940385,
        "relative_strength": -4.341512,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 64.233352,
        "energy": 58.969788,
        "activity_lines": [
          3.565333,
          3.482182,
          3.107048,
          2.900688
        ]
      },
      {
        "date": "2026-08-07",
        "close": 3.34,
        "volume": 1017400,
        "typical_volume": 2485030.0,
        "trend": 2.724667,
        "fair_value": 2.942692,
        "relative_strength": -6.444935,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 59.386044,
        "energy": 47.909058,
        "activity_lines": [
          3.485333,
          3.482182,
          3.157524,
          2.942796
        ]
      }
    ],
    "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."
    }
  }
}