{
  "ticker": {
    "uuid": "ff5f5278-1f36-4b1d-9c5b-78c66c340e98",
    "symbol": "ASP",
    "name": "Asia Plus Group Holdings 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": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "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": 81.225,
    "architecture_energy": 92.135,
    "architecture_maturity": 32.799,
    "architecture_confidence": 68.509,
    "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": 0.52,
        "rotation_up": 86.54,
        "upward_expansion": 99.7,
        "deceleration": 39.11,
        "rotation_down": 8.4,
        "downward_expansion": 21.7
      },
      "activity_lines": [
        2.406667,
        2.340364,
        2.25619,
        2.208599
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 2.44,
    "trend_reference": 2.149804,
    "distance_from_trend": 0.134987,
    "trend_direction": "Improving",
    "fair_value": 2.218778,
    "distance_from_fair_value": 0.099704,
    "fair_value_direction": "Improving",
    "relative_strength": -2.707003,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.224578,
    "excess_performance": 0.032253,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.134987,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.051915,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.099704,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.148921,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.02707,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.108424,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.224578,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 81.670555,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 8377500,
      "relative_activity": 1.961537,
      "balance": 81.670555,
      "dry_up": 2.43254,
      "accumulation_observations": 3,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.027743,
      "annualized_volatility": 0.209541,
      "from_high_reference": -0.090314,
      "from_low_reference": 0.292955
    },
    "levels": {
      "trend_reference": 2.149804,
      "fair_value_reference": 2.218778,
      "structural_low": 1.935047,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 15,
        "median_return": -0.020833,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.00318,
        "regime_survival": 0.6,
        "best_return": 0.141666,
        "worst_return": -0.167883,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": -0.034722,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.285714,
        "median_excess_return": 0.003058,
        "regime_survival": 0.285714,
        "best_return": 0.037665,
        "worst_return": -0.116667,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 5,
        "median_return": -0.028285,
        "positive_rate": 0.4,
        "directional_follow_through": 0.4,
        "median_excess_return": 0.029141,
        "regime_survival": 0.2,
        "best_return": 0.061657,
        "worst_return": -0.108334,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.032124,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": 0.040926,
        "regime_survival": 0.0,
        "best_return": -0.031682,
        "worst_return": -0.032566,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-02-02",
        "end": "2024-04-26",
        "tenure": "Established",
        "return": -0.029663,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-05-03",
        "end": "2024-09-20",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2024-10-25",
        "tenure": "Developing",
        "return": -0.031008,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-12-20",
        "tenure": "Developing",
        "return": -0.085938,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2025-02-14",
        "tenure": "Developing",
        "return": -0.008621,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2025-07-11",
        "tenure": "Established",
        "return": -0.070228,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "end": "2025-08-08",
        "tenure": "New",
        "return": 0.034783,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-10-10",
        "tenure": "Developing",
        "return": -0.05,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-11-07",
        "tenure": "New",
        "return": 0.009174,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "active": false
      },
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "end": "2026-02-13",
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        "return": 0.059406,
        "active": false
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      {
        "regime": "rotation_up",
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        "return": -0.08547,
        "active": false
      },
      {
        "regime": "balance",
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        "color": "blue",
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        "active": false
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      {
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        "active": true
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        "gate": "mixed",
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      },
      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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      },
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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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        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 1692900,
        "typical_volume": 3355835.0,
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        "fair_value": 2.21893,
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        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
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      },
      {
        "date": "2026-07-10",
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        "relative_strength": -9.656738,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
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        "direction": 88.904004,
        "energy": 89.305649,
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          2.133584
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      },
      {
        "date": "2026-07-17",
        "close": 2.32,
        "volume": 9836000,
        "typical_volume": 3588860.0,
        "trend": 2.100003,
        "fair_value": 2.218437,
        "relative_strength": -10.172918,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 80.904891,
        "energy": 91.716217,
        "activity_lines": [
          2.282667,
          2.233091,
          2.178524,
          2.148667
        ]
      },
      {
        "date": "2026-07-24",
        "close": 2.42,
        "volume": 17301900,
        "typical_volume": 4014145.0,
        "trend": 2.117446,
        "fair_value": 2.218616,
        "relative_strength": -6.071094,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 91.067276,
        "energy": 96.179142,
        "activity_lines": [
          2.34,
          2.272364,
          2.205524,
          2.169312
        ]
      },
      {
        "date": "2026-07-31",
        "close": 2.42,
        "volume": 6041000,
        "typical_volume": 4007945.0,
        "trend": 2.133611,
        "fair_value": 2.218687,
        "relative_strength": -4.507333,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 83.600091,
        "energy": 93.480225,
        "activity_lines": [
          2.378667,
          2.306909,
          2.230762,
          2.188832
        ]
      },
      {
        "date": "2026-08-07",
        "close": 2.44,
        "volume": 8377500,
        "typical_volume": 4270885.0,
        "trend": 2.149804,
        "fair_value": 2.218778,
        "relative_strength": -2.707003,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 81.225267,
        "energy": 92.134742,
        "activity_lines": [
          2.406667,
          2.340364,
          2.25619,
          2.208599
        ]
      }
    ],
    "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."
    }
  }
}