Weekly structural research · SET · Utilities

ETC Stage Analysis

Earth Tech Environment Public Company Limited

Week ending 2 Oct 2026Close THB 0.72Tenure DevelopingBenchmark ^SET.BK

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Re-accelerating

The weekly architecture is expanding upward.

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.

The Trend gate is up within the current regime.
Fast Activity versus Slow Activity: stable.
Activity structure: compressed and contracting.

Direction 49−100 bearish to +100 bullish

Energy 31/100directional strength

Maturity 24/100lifecycle context

Confidence 68/100evidence agreement

Trend gate Upstructural direction

Activity structure Compressedcontracting separation

Price acceptance +50.0%position within the Activity structure

Fair Value context -48.5%THB 1.40 · improving

Trend Architecture map · Historical context

Weekly close, Activity, Trend and Fair Value

Follow price and Trend first, then add Activity Lines to inspect the structure. Subtle bands show the regime recognized at each completed observation; the dashed line marks current Fair Value, not a historical forecast.

CloseTrendCurrent Fair Value

Background stage key

BalanceDirection is contained.
Rotation UpStructure is turning higher.
Upward ExpansionUptrend is established.
DecelerationUptrend is losing energy.
Downward ExpansionDowntrend is established.

View chart values · 156 observations

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-02	0.72	0.7056	3.36	22025300	Upward Expansion	49	31
2026-09-25	0.74	0.7004	3.60	15892800	Upward Expansion	59	48
2026-09-18	0.76	0.6954	7.73	30195600	Upward Expansion	65	68
2026-09-11	0.77	0.69	7.60	84953400	Upward Expansion	75	70
2026-09-04	0.74	0.6828	3.71	27346900	Upward Expansion	60	53
2026-08-28	0.75	0.675	5.38	6659200	Deceleration	68	46
2026-08-21	0.73	0.6672	0.85	5449400	Deceleration	47	25
2026-08-14	0.70	0.66	-2.65	3613300	Deceleration	22	14
2026-08-07	0.71	0.6542	-1.94	4586000	Deceleration	26	20
2026-07-31	0.70	0.6486	-4.43	1274100	Deceleration	35	20
2026-07-24	0.71	0.6428	-4.77	2564500	Deceleration	36	22
2026-07-17	0.73	0.6372	-2.51	13500000	Deceleration	45	27
2026-07-10	0.69	0.6304	-7.75	3991500	Deceleration	38	24
2026-07-03	0.71	0.6242	-6.65	5459600	Upward Expansion	44	34
2026-06-26	0.71	0.619	-4.66	3259100	Upward Expansion	48	40
2026-06-19	0.72	0.6138	-7.44	7161000	Upward Expansion	61	48
2026-06-12	0.72	0.6085	-10.69	5004900	Upward Expansion	62	51
2026-06-05	0.75	0.6042	-8.48	12550500	Upward Expansion	71	65
2026-05-29	0.73	0.5991	-11.98	70832500	Upward Expansion	65	65
2026-05-22	0.73	0.5957	-12.23	29346600	Upward Expansion	69	69
2026-05-15	0.72	0.5926	-14.14	65756900	Upward Expansion	68	61
2026-05-08	0.73	0.5892	-14.09	200371600	Upward Expansion	75	64
2026-05-01	0.7026	0.5858	-19.03	104579700	Upward Expansion	73	63
2026-04-24	0.6558	0.5846	-24.43	43301200	Rotation Up	62	61
2026-04-17	0.6652	0.5846	-26.83	20717400	Rotation Up	42	57
2026-04-10	0.6558	0.5846	-30.92	48041200	Rotation Up	41	58
2026-04-03	0.6558	0.5862	-30.01	208377200	Rotation Up	45	57
2026-03-27	0.6277	0.5858	-34.06	122635600	Rotation Up	30	47
2026-03-20	0.6464	0.5818	-32.78	119872000	Rotation Up	38	44
2026-03-13	0.5902	0.5796	-38.75	20749900	Balance	20	27
2026-03-06	0.5621	0.5812	-42.70	28058400	Balance	-9	21
2026-02-27	0.5902	0.5855	-45.37	68355800	Downward Expansion	-1	15
2026-02-20	0.5996	0.5896	-43.48	45212400	Downward Expansion	-16	12
2026-02-13	0.5527	0.594	-46.88	38142100	Downward Expansion	-57	41
2026-02-06	0.5059	0.6027	-49.36	9996200	Downward Expansion	-68	52
2026-01-30	0.5153	0.6227	-47.97	6783100	Downward Expansion	-63	47
2026-01-23	0.5153	0.643	-48.44	7811400	Downward Expansion	-65	47
2026-01-16	0.5246	0.6645	-46.87	13745800	Downward Expansion	-63	47
2026-01-09	0.5434	0.6848	-44.90	8297400	Downward Expansion	-61	50
2026-01-02	0.5246	0.7061	-47.93	4809100	Downward Expansion	-67	58
2025-12-26	0.5434	0.7282	-46.96	53093600	Downward Expansion	-64	55
2025-12-19	0.5246	0.7513	-49.37	6057000	Downward Expansion	-70	75
2025-12-12	0.5059	0.7766	-52.10	14667900	Downward Expansion	-81	81
2025-12-05	0.5527	0.8076	-49.47	3216400	Downward Expansion	-70	66
2025-11-28	0.5527	0.8394	-49.76	7841300	Downward Expansion	-70	57
2025-11-21	0.5621	0.871	-49.77	11111100	Downward Expansion	-71	55
2025-11-14	0.5902	0.9044	-48.75	21302300	Downward Expansion	-67	52
2025-11-07	0.5996	0.9353	-50.07	13662900	Downward Expansion	-67	54
2025-10-31	0.6277	0.96	-48.88	27613800	Downward Expansion	-62	55
2025-10-24	0.6371	0.9821	-49.13	15831500	Downward Expansion	-60	58
2025-10-17	0.6183	1.00	-49.93	14525400	Downward Expansion	-66	60
2025-10-10	0.6277	1.03	-50.54	25889900	Downward Expansion	-50	44
2025-10-03	0.6652	1.05	-48.87	275215600	Downward Expansion	-46	44
2025-09-26	0.6558	1.07	-50.00	29664200	Downward Expansion	-50	50
2025-09-19	0.6652	1.08	-50.77	55169500	Downward Expansion	-63	61
2025-09-12	0.7026	1.10	-48.90	207056700	Downward Expansion	-66	65
2025-09-05	0.6464	1.11	-52.73	314892500	Downward Expansion	-68	67
2025-08-29	0.5059	1.13	-62.72	66523900	Downward Expansion	-86	94
2025-08-22	0.5808	1.16	-58.40	57571000	Downward Expansion	-83	94
2025-08-15	0.6371	1.19	-55.29	31188700	Downward Expansion	-80	93
2025-08-08	0.6933	1.21	-52.04	50419300	Downward Expansion	-80	93
2025-08-01	0.712	1.24	-49.77	63078800	Downward Expansion	-87	95
2025-07-25	0.7307	1.27	-49.03	262683500	Downward Expansion	-93	95
2025-07-18	0.8151	1.30	-43.25	428384400	Downward Expansion	-93	80
2025-07-11	1.11	1.33	-17.85	1249000	Downward Expansion	-72	69
2025-07-04	1.12	1.35	-16.93	2914700	Downward Expansion	-71	73
2025-06-27	1.16	1.38	-11.68	2310400	Downward Expansion	-66	74
2025-06-20	1.13	1.40	-13.04	1174500	Downward Expansion	-75	80
2025-06-13	1.18	1.42	-14.34	1393900	Balance	-69	61
2025-06-06	1.19	1.44	-15.36	1310900	Balance	-59	47
2025-05-30	1.24	1.46	-13.66	1765000	Balance	-48	31
2025-05-23	1.28	1.49	-13.12	2181500	Balance	-31	16
2025-05-16	1.43	1.51	-5.22	1942700	Balance	4	34
2025-05-09	1.51	1.53	-1.99	1032000	Balance	6	31
2025-05-02	1.50	1.55	-2.15	2129900	Balance	1	23
2025-04-25	1.56	1.58	4.97	4779600	Balance	9	21
2025-04-18	1.52	1.60	2.00	2559500	Downward Expansion	-13	17
2025-04-11	1.34	1.62	-8.69	6773700	Downward Expansion	-35	23
2025-04-04	1.29	1.64	-12.35	4841800	Downward Expansion	-40	28
2025-03-28	1.32	1.66	-15.00	3464100	Downward Expansion	-45	36
2025-03-21	1.31	1.68	-17.30	4686500	Downward Expansion	-51	48
2025-03-14	1.22	1.70	-23.35	2645300	Downward Expansion	-64	59
2025-03-07	1.19	1.72	-27.89	4290600	Downward Expansion	-67	73
2025-02-28	1.09	1.73	-35.06	1350800	Downward Expansion	-79	90
2025-02-21	1.19	1.76	-32.21	731500	Downward Expansion	-73	87
2025-02-14	1.18	1.77	-34.84	1592600	Downward Expansion	-80	88
2025-02-07	1.09	1.78	-41.18	12884300	Downward Expansion	-92	91
2025-01-31	1.42	1.81	-25.69	2349600	Downward Expansion	-74	80
2025-01-24	1.50	1.82	-24.63	4245400	Downward Expansion	-68	80
2025-01-17	1.41	1.83	-29.22	3902700	Downward Expansion	-83	85
2025-01-10	1.56	1.85	-23.91	8648900	Downward Expansion	-71	78
2025-01-03	1.56	1.86	-25.45	4016400	Downward Expansion	-75	75
2024-12-27	1.63	1.88	-23.48	5797100	Balance	-70	60
2024-12-20	1.61	1.89	-22.97	10044900	Balance	-47	37
2024-12-13	1.82	1.91	-17.84	3936400	Balance	-19	19
2024-12-06	1.89	1.92	-16.19	5076600	Balance	-26	28
2024-11-29	1.85	1.93	-17.01	3055300	Balance	-28	33
2024-11-22	1.79	1.94	-21.50	6220700	Balance	-51	40
2024-11-15	1.75	1.96	-23.51	11827800	Balance	-27	31
2024-11-08	1.89	1.98	-19.19	6410600	Balance	-11	21
2024-11-01	1.87	2.00	-20.45	6004800	Balance	-7	13
2024-10-25	1.91	2.01	-19.31	3850200	Rotation Up	9	16
2024-10-18	2.06	2.04	-15.01	4046800	Rotation Up	27	45
2024-10-11	2.21	2.06	-8.04	4510400	Rotation Up	29	60
2024-10-04	2.25	2.08	-5.25	15185600	Rotation Up	35	57
2024-09-27	2.21	2.09	-7.52	14115900	Balance	19	36
2024-09-20	2.08	2.10	-13.48	9580800	Balance	6	24
2024-09-13	2.14	2.12	-9.84	10805600	Downward Expansion	7	17
2024-09-06	1.93	2.13	-18.93	18018300	Downward Expansion	-36	22
2024-08-30	1.73	2.14	-23.93	7006400	Downward Expansion	-47	34
2024-08-23	1.85	2.16	-18.76	4227200	Downward Expansion	-45	36
2024-08-16	1.79	2.18	-18.98	5979500	Downward Expansion	-60	54
2024-08-09	1.75	2.20	-20.65	5030300	Downward Expansion	-64	63
2024-08-02	1.74	2.23	-22.36	1369500	Downward Expansion	-65	65
2024-07-26	1.63	2.26	-27.37	3932300	Downward Expansion	-77	85
2024-07-19	1.57	2.29	-30.83	8549800	Downward Expansion	-89	93
2024-07-12	1.87	2.32	-19.09	2971900	Downward Expansion	-67	84
2024-07-05	1.78	2.34	-22.30	2104900	Downward Expansion	-79	90
2024-06-28	1.79	2.37	-21.58	2956900	Downward Expansion	-84	89
2024-06-21	1.83	2.39	-20.59	4685100	Downward Expansion	-86	79
2024-06-14	2.02	2.42	-12.39	2211600	Downward Expansion	-73	74
2024-06-07	2.04	2.43	-13.63	5695200	Downward Expansion	-75	79
2024-05-31	2.12	2.45	-11.64	1780300	Downward Expansion	-70	78
2024-05-24	2.12	2.46	-13.11	564000	Downward Expansion	-74	79
2024-05-17	2.10	2.48	-15.26	3082100	Downward Expansion	-80	80
2024-05-10	2.19	2.49	-11.08	3537500	Downward Expansion	-75	75
2024-05-03	2.30	2.51	-6.82	1344600	Downward Expansion	-63	67
2024-04-26	2.32	2.52	-5.83	2393200	Balance	-61	48
2024-04-19	2.25	2.53	-7.47	3463200	Balance	-60	43
2024-04-12	2.45	2.55	-4.24	2309800	Balance	-19	13
2024-04-05	2.38	2.56	-6.39	10618100	Rotation Up	-8	14
2024-03-29	2.59	2.57	0.79	4117100	Rotation Up	31	49
2024-03-22	2.75	2.58	6.52	5257000	Rotation Up	33	54
2024-03-15	2.81	2.58	7.85	24573400	Balance	40	38
2024-03-08	2.64	2.58	0.97	7412900	Balance	-5	17
2024-03-01	2.51	2.58	-3.38	1570000	Downward Expansion	-34	18
2024-02-23	2.49	2.58	-6.73	2960300	Downward Expansion	-52	33
2024-02-16	2.51	2.59	-5.71	16318500	Downward Expansion	-58	53
2024-02-09	2.38	2.60	-11.32	6795600	Downward Expansion	-61	74
2024-02-02	2.29	2.61	-15.29	2183200	Downward Expansion	-80	81
2024-01-26	2.38	2.62	-11.50	1854100	Downward Expansion	-69	63
2024-01-19	2.40	2.63	-12.34	5853200	Downward Expansion	-69	46
2024-01-12	2.51	2.64	-10.69	6164300	Downward Expansion	-40	18
2024-01-05	2.62	2.65	-8.04	1847600	Downward Expansion	-31	15
2023-12-29	2.55	2.66	-10.22	3196800	Downward Expansion	-37	21
2023-12-22	2.59	2.67	-8.55	4156100	Downward Expansion	-39	23
2023-12-15	2.49	2.68	-11.29	3148100	Downward Expansion	-57	31
2023-12-08	2.57	2.69	-8.43	4171300	Downward Expansion	-41	25
2023-12-01	2.53	2.71	-10.04	5915900	Downward Expansion	-55	33
2023-11-24	2.57	2.73	-10.08	4414600	Downward Expansion	-54	34
2023-11-17	2.55	2.76	-12.12	9437000	Downward Expansion	-56	49
2023-11-10	2.51	2.79	-11.81	7480500	Downward Expansion	-61	61
2023-11-03	2.53	2.84	-13.10	13509500	Downward Expansion	-59	54
2023-10-27	2.49	2.88	-12.53	6217500	Downward Expansion	-63	49
2023-10-20	2.49	2.93	-13.32	17158400	Downward Expansion	-65	36
2023-10-13	2.75	2.97	-7.69	6596700	Downward Expansion	-33	18

Price vs TrendAbove+2.0%

Trend directionRising+9.8%

Price vs current Fair ValueBelow anchor-48.5%

Fair Value directionClosing upward+6.1%

Relative Strength vs benchmarkLeading+3.4%

Relative strength directionImproving+10.0%

Price momentumPositive+9.8%

Volume balanceDemand-led1.08×

Beyond the current label

Is the structure strengthening or losing force?

Direction and energy measure different things

Direction shows the upward or downward lean. Energy shows the force behind the structural move: high energy can accompany a strong decline as well as an advance.

Direction

49 / ±100

-11.0 points since 2026-09-04

Energy

31 /100

-22.5 points since 2026-09-04

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

ETC Directional State ↗ ETC Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance37

Rotation Up51

Upward Expansion76

Deceleration66

Rotation Down22

Downward Expansion5

The winning regime is the state most consistent with the complete SM evidence set. Direction, energy, maturity and confidence describe different aspects of the current structure, while contradictory evidence remains visible rather than being averaged into false certainty.

Time spent in each state

The context behind today’s regime

2023-10-13 to 2026-10-02 · 156 classified observations out of 156 shown.

Balance 17%Rotation Up 8%Upward Expansion 10%Deceleration 5%Downward Expansion 60%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-09-04	2026-10-02	Developing	-2.7%
Deceleration	2026-07-10	2026-08-28	Developing	+8.7%
Upward Expansion	2026-05-01	2026-07-03	Developing	+1.0%
Rotation Up	2026-03-20	2026-04-24	Developing	+1.4%
Balance	2026-03-06	2026-03-13	New	+5.0%
Downward Expansion	2025-06-20	2026-02-27	Extended	-47.9%
Balance	2025-04-25	2025-06-13	Developing	-24.6%
Downward Expansion	2025-01-03	2025-04-18	Established	-2.4%
Balance	2024-11-01	2024-12-27	Developing	-13.0%
Rotation Up	2024-10-04	2024-10-25	New	-15.0%
Balance	2024-09-20	2024-09-27	New	+6.3%
Downward Expansion	2024-05-03	2024-09-13	Established	-7.3%
Balance	2024-04-12	2024-04-26	New	-5.3%
Rotation Up	2024-03-22	2024-04-05	New	-13.6%

Classic Stage Analysis comparison

Stage 1 · Basing62

Stage 2 · Advancing44

Stage 3 · Distribution25

Stage 4 · Declining13

Legacy result: Stage 1 · Stage 1B · Basing. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus ^SET.BK

Is relative performance confirming the geometry?

Confirmation, not classification

Relative Strength

The security is compared with its market benchmark on the SM scale. Above zero indicates relative leadership; direction shows whether that leadership is improving or weakening.

Confirmation evidence

Leading benchmark

Architecture confirmation: 65/100
Current Relative Strength: 3.36
Relative Strength direction: Improving
Price momentum: +9.8%
Excess performance vs benchmark: +1.7%
Utilities regime cohort: 33th percentile12 in cohort

Test ETC trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.24×

Latest completed volume relative to typical participation.

Up/down volume1.08×

Participation balance between advancing and declining observations.

Accumulation / distribution1 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+100.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationStable

Current relationship between Fast Activity and Slow Activity.

Structure stability+25.0%

Whether recent Activity evidence is stable or remains in balance.

Weekly volume with architecture context

Bars show completed weekly volume; the dashed line provides typical-volume context. Both measures use the same scale.

Explore ETC Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity THB 0.7413rising

Slow Activity THB 0.7227rising

Trend Reference THB 0.7056+2.0% close margin

Current Fair Value THB 1.40-48.5% close margin

Structural low THB 0.6277shock / repair context

What changes the read?

Sustained fan recompression, a fast-line rollover or repeated closes inside/below the fan move the read toward Deceleration or Rotation Down.

Range context +5.3%

Annualized volatility +20.3%

From structural high -11.1%

From structural low +45.0%

Point-in-time evidence

What followed this architecture in this market?

Descriptive history, never a forecast

Historical comparisons use only the structural read that would have been available at each completed observation. Independent observations are used where possible, with benchmark comparison beginning after each recognized state.

Outcome horizon	Samples	Median move	Positive periods	Directional follow-through	Median excess vs ^SET.BK	Regime survived	Read
Near term	10	+0.7%-7.7% to +15.7%	+50.0%	+50.0%	+0.1%	+70.0%	Usable descriptive sample
Intermediate	3	+4.6%-0.4% to +11.6%	+66.7%	+66.7%	+10.4%	+0.0%	Too little matched history
Extended	2	-13.6%-28.9% to +1.7%	+50.0%	+50.0%	-7.1%	+0.0%	Too little matched history
Full cycle	2	-8.6%-33.5% to +16.3%	+50.0%	+50.0%	-0.0%	+50.0%	Too little matched history

Evidence framework

What the analysis measures and where its limits lie

Trend Architecture

Trend Architecture brings Price, Fast Activity, Slow Activity and Trend into one structural read. It identifies balance, rotation, expansion, deceleration and contraction while requiring persistent evidence for confirmed regime changes.

Evidence roles

Trend, Activity, relative strength, volume and Fair Value each have a defined role in the SM evidence framework. No single reading is treated as sufficient on its own, and conflicting evidence remains visible.

Fair Value and RS

Current Fair Value provides a long-term price anchor and shows whether price is trading above, below or repairing toward that reference. Relative Strength compares the security with its benchmark and shows whether leadership is improving or weakening.

Known limitations

Weekly structure recognizes conditions after they develop. Event gaps can bypass smooth transitions, sideways markets can rotate repeatedly, and historical samples for a particular regime can be thin.

Independent market research for education. Not investment advice, a recommendation, a forecast, a target, or an execution instruction. Historical regime behaviour does not establish what happens next.

ETC Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding upward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength

Leading benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Send a message

Evidence context

What the Activity Line geometry says now

The weekly architecture is expanding upward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength ?

Leading benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

Test the structure from another angle

Trend Persistence ↗

Directional State ↗

Momentum Intelligence ↗

Volume & Price ↗

Similar Charts ↗

RMI Reversal Map ↗

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Relative Strength

Trend Persistence

Directional State

Momentum Intelligence

Volume & Price

Similar Charts

RMI Reversal Map