Weekly structural research · SET · Utilities

TTW Stage Analysis

TTW Public Company Limited

Week ending 2 Oct 2026Close THB 10.00Tenure NewBenchmark ^SET.BK

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Deceleration · Recompressing

The upward structure remains, but its energy is decelerating.

Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down.

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

Direction 42−100 bearish to +100 bullish

Energy 31/100directional strength

Maturity 59/100lifecycle context

Confidence 81/100evidence agreement

Trend gate Upstructural direction

Activity structure Moderatecontracting separation

Price acceptance +33.3%position within the Activity structure

Fair Value context +17.8%THB 8.49 · weakening

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.
Rotation DownStructure is turning lower.
Downward ExpansionDowntrend is established.

View chart values · 156 observations

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-02	10.00	9.68	-1.14	19298400	Deceleration	42	31
2026-09-25	10.20	9.65	-1.53	7209900	Deceleration	46	35
2026-09-18	10.30	9.62	0.77	9668700	Deceleration	55	40
2026-09-11	10.10	9.58	-2.52	16722000	Deceleration	42	34
2026-09-04	10.00	9.54	-3.05	10581100	Upward Expansion	46	42
2026-08-28	10.20	9.50	-0.87	1754900	Upward Expansion	61	58
2026-08-21	10.10	9.46	-3.86	3177000	Upward Expansion	65	65
2026-08-14	10.20	9.42	-2.40	5137700	Upward Expansion	67	68
2026-08-07	10.29	9.37	-1.97	2241400	Upward Expansion	69	88
2026-07-31	10.40	9.32	-1.74	2661700	Upward Expansion	86	95
2026-07-24	10.40	9.27	-2.99	2475600	Upward Expansion	96	98
2026-07-17	10.20	9.21	-4.74	3651100	Upward Expansion	97	99
2026-07-10	10.00	9.16	-5.81	6797800	Upward Expansion	98	98
2026-07-03	9.80	9.12	-7.42	2332200	Upward Expansion	96	94
2026-06-26	9.45	9.08	-7.05	2886500	Upward Expansion	80	76
2026-06-19	9.35	9.06	-10.14	3215100	Upward Expansion	66	61
2026-06-12	9.35	9.04	-11.65	348800	Upward Expansion	66	67
2026-06-05	9.35	9.01	-11.46	2624900	Upward Expansion	68	65
2026-05-29	9.30	8.99	-11.47	8618600	Upward Expansion	60	47
2026-05-22	9.30	8.98	-10.06	7835600	Upward Expansion	61	48
2026-05-15	9.35	8.96	-8.59	8989200	Upward Expansion	68	47
2026-05-08	9.20	8.94	-9.22	10694500	Upward Expansion	53	38
2026-05-01	9.25	8.92	-8.51	5369700	Upward Expansion	61	43
2026-04-24	9.20	8.90	-6.86	5665500	Upward Expansion	56	42
2026-04-17	9.20	8.88	-8.72	2172600	Upward Expansion	59	47
2026-04-10	9.20	8.87	-10.43	9089300	Upward Expansion	62	51
2026-04-03	9.20	8.85	-7.49	7936600	Upward Expansion	64	55
2026-03-27	9.25	8.83	-6.79	18080300	Upward Expansion	75	61
2026-03-20	9.20	8.81	-6.54	18391500	Upward Expansion	73	67
2026-03-13	9.15	8.79	-5.63	30340600	Upward Expansion	72	78
2026-03-06	9.15	8.77	-5.87	26935600	Upward Expansion	78	84
2026-02-27	9.10	8.75	-13.68	23634000	Upward Expansion	79	83
2026-02-20	9.10	8.72	-11.05	15846900	Upward Expansion	86	83
2026-02-13	9.00	8.70	-9.09	8818200	Upward Expansion	82	73
2026-02-06	8.86	8.68	-5.52	8577500	Upward Expansion	63	58
2026-01-30	8.90	8.66	-2.89	15439100	Upward Expansion	73	66
2026-01-23	8.81	8.63	-2.98	10713300	Upward Expansion	59	51
2026-01-16	8.81	8.61	0.17	8458100	Upward Expansion	60	44
2026-01-09	8.81	8.58	2.14	7208000	Deceleration	62	35
2026-01-02	8.76	8.56	1.47	3804000	Deceleration	49	25
2025-12-26	8.71	8.54	1.28	4949200	Deceleration	34	20
2025-12-19	8.66	8.52	1.59	7912300	Deceleration	35	22
2025-12-12	8.71	8.50	2.28	4414700	Deceleration	40	27
2025-12-05	8.76	8.49	1.62	5852100	Deceleration	57	35
2025-11-28	8.71	8.48	2.78	9050900	Upward Expansion	43	32
2025-11-21	8.71	8.47	3.33	6829000	Upward Expansion	55	41
2025-11-14	8.71	8.45	2.52	10918000	Upward Expansion	56	44
2025-11-07	8.76	8.43	0.80	7811500	Upward Expansion	62	50
2025-10-31	8.76	8.42	0.62	9796800	Upward Expansion	64	50
2025-10-24	8.71	8.40	0.05	6955900	Upward Expansion	58	49
2025-10-17	8.71	8.38	3.46	11116900	Upward Expansion	61	53
2025-10-10	8.71	8.37	2.83	5865900	Upward Expansion	63	61
2025-10-03	8.71	8.35	2.61	13508800	Upward Expansion	66	70
2025-09-26	8.71	8.33	4.06	6125000	Upward Expansion	70	79
2025-09-19	8.76	8.32	3.81	11228400	Upward Expansion	80	79
2025-09-12	8.71	8.30	3.48	22425100	Upward Expansion	80	73
2025-09-05	8.62	8.28	4.98	10043400	Upward Expansion	75	70
2025-08-29	8.52	8.26	6.54	7115600	Upward Expansion	67	74
2025-08-22	8.57	8.24	6.01	7216700	Upward Expansion	77	81
2025-08-15	8.48	8.23	4.66	6663500	Upward Expansion	68	76
2025-08-08	8.52	8.22	5.48	8551000	Upward Expansion	78	79
2025-08-01	8.43	8.20	8.11	4503400	Upward Expansion	69	62
2025-07-25	8.38	8.18	7.95	6061000	Rotation Down	53	38
2025-07-18	8.43	8.18	9.83	9371900	Rotation Down	53	27
2025-07-11	8.19	8.17	15.30	3751600	Rotation Down	-15	32
2025-07-04	8.10	8.17	14.62	6375300	Rotation Down	-22	44
2025-06-27	8.05	8.17	18.37	12131800	Rotation Down	-25	46
2025-06-20	7.96	8.17	19.15	12424600	Balance	-38	40
2025-06-13	8.15	8.18	16.47	2620300	Balance	12	16
2025-06-06	8.19	8.17	16.18	2440400	Upward Expansion	26	13
2025-05-30	8.15	8.17	14.71	10662900	Upward Expansion	26	14
2025-05-23	8.24	8.17	13.82	6857000	Upward Expansion	52	45
2025-05-16	8.38	8.17	14.35	3917500	Upward Expansion	64	56
2025-05-09	8.29	8.17	12.14	3509800	Upward Expansion	51	42
2025-05-02	8.38	8.17	14.93	4678500	Balance	65	46
2025-04-25	8.24	8.18	17.34	3406400	Balance	13	10
2025-04-18	8.19	8.18	18.00	2787700	Balance	9	7
2025-04-11	8.24	8.19	21.50	19672100	Balance	24	15
2025-04-04	8.19	8.19	21.84	8986000	Balance	13	13
2025-03-28	8.19	8.19	17.23	6136400	Balance	16	24
2025-03-21	8.24	8.18	17.25	6685700	Balance	18	31
2025-03-14	8.24	8.17	19.01	10876600	Balance	18	29
2025-03-07	8.24	8.16	16.63	13366100	Balance	17	20
2025-02-28	8.19	8.14	16.25	11122200	Balance	18	13
2025-02-21	8.24	8.12	13.21	11143300	Balance	13	10
2025-02-14	8.10	8.11	9.31	6227900	Balance	-8	8
2025-02-07	8.01	8.09	7.37	7009500	Balance	-27	17
2025-01-31	8.10	8.09	6.02	6311000	Balance	-20	18
2025-01-24	8.10	8.08	3.04	5372600	Deceleration	-15	24
2025-01-17	8.06	8.06	3.48	5685200	Deceleration	-14	26
2025-01-10	7.97	8.06	0.35	17739200	Deceleration	-7	21
2025-01-03	8.01	8.06	-0.27	14507500	Deceleration	-2	7
2024-12-27	8.19	8.05	0.82	5414800	Deceleration	29	20
2024-12-20	8.15	8.03	3.06	11689300	Deceleration	27	18
2024-12-13	8.15	8.02	-1.57	5750100	Deceleration	16	10
2024-12-06	8.24	8.01	-1.78	4724500	Deceleration	23	18
2024-11-29	8.15	8.00	-1.14	6275000	Deceleration	11	18
2024-11-22	8.06	7.99	-3.43	4633700	Deceleration	16	25
2024-11-15	8.06	7.98	-3.14	7999500	Deceleration	24	30
2024-11-08	8.19	7.98	-2.92	4746300	Deceleration	38	29
2024-11-01	8.15	7.96	-3.38	5156300	Upward Expansion	45	33
2024-10-25	8.15	7.95	-3.26	7637200	Upward Expansion	63	53
2024-10-18	8.33	7.95	-2.86	5071000	Upward Expansion	67	78
2024-10-11	8.46	7.93	0.10	7353500	Upward Expansion	73	89
2024-10-04	8.51	7.92	2.60	4424300	Upward Expansion	85	94
2024-09-27	8.42	7.90	1.33	7943800	Upward Expansion	84	94
2024-09-20	8.37	7.89	0.87	2394200	Rotation Up	88	91
2024-09-13	8.19	7.89	0.84	19712600	Rotation Up	48	70
2024-09-06	8.24	7.90	1.42	9284400	Balance	45	44
2024-08-30	7.98	7.90	3.42	2087300	Balance	3	13
2024-08-23	7.93	7.90	3.57	7611500	Downward Expansion	-17	9
2024-08-16	7.89	7.91	7.51	5513600	Downward Expansion	-42	28
2024-08-09	7.58	7.91	4.30	11683200	Downward Expansion	-75	62
2024-08-02	7.71	7.93	5.27	3895000	Downward Expansion	-62	51
2024-07-26	7.71	7.94	6.21	7679500	Downward Expansion	-60	47
2024-07-19	7.76	7.94	6.50	5348400	Downward Expansion	-56	42
2024-07-12	7.76	7.94	5.77	2965000	Downward Expansion	-55	30
2024-07-05	7.80	7.93	8.45	3832800	Downward Expansion	-40	21
2024-06-28	7.76	7.93	9.24	2144000	Downward Expansion	-48	24
2024-06-21	7.93	7.92	11.74	4949300	Downward Expansion	-35	21
2024-06-14	7.84	7.91	11.06	6532800	Downward Expansion	-27	39
2024-06-07	7.80	7.90	8.83	2338800	Downward Expansion	-30	48
2024-05-31	7.76	7.89	7.67	3306900	Deceleration	-37	45
2024-05-24	7.76	7.89	6.65	1214800	Deceleration	-35	23
2024-05-17	7.80	7.88	6.24	7531900	Deceleration	-23	17
2024-05-10	7.89	7.88	8.68	3016400	Deceleration	13	13
2024-05-03	7.98	7.87	10.53	2000600	Deceleration	1	14
2024-04-26	7.80	7.85	9.36	4556900	Deceleration	-26	37
2024-04-19	7.84	7.85	12.73	1742900	Deceleration	-1	17
2024-04-12	7.84	7.84	8.08	4852600	Deceleration	-1	18
2024-04-05	7.84	7.84	10.18	4612200	Deceleration	0	16
2024-03-29	7.93	7.83	11.73	1920600	Deceleration	22	22
2024-03-22	7.89	7.82	11.40	4291900	Deceleration	26	21
2024-03-15	8.02	7.80	13.42	2349300	Upward Expansion	42	27
2024-03-08	7.98	7.77	13.34	10966600	Upward Expansion	58	43
2024-03-01	8.19	7.74	18.54	15506800	Upward Expansion	63	55
2024-02-23	8.36	7.70	18.99	7269500	Upward Expansion	74	64
2024-02-16	8.31	7.65	20.07	16811900	Upward Expansion	77	65
2024-02-09	8.23	7.61	19.33	16399400	Upward Expansion	76	72
2024-02-02	8.06	7.57	17.90	14075400	Upward Expansion	65	81
2024-01-26	8.23	7.54	22.44	16545900	Upward Expansion	85	93
2024-01-19	7.98	7.50	18.15	12347800	Upward Expansion	66	84
2024-01-12	8.10	7.46	18.02	12041700	Upward Expansion	84	87
2024-01-05	8.06	7.43	16.80	11463100	Upward Expansion	84	77
2023-12-29	7.76	7.40	14.06	4133300	Deceleration	63	43
2023-12-22	7.68	7.37	14.23	20767900	Deceleration	54	28
2023-12-15	7.55	7.35	13.97	7603900	Deceleration	32	18
2023-12-08	7.59	7.33	15.94	11863200	Deceleration	34	20
2023-12-01	7.55	7.32	15.86	18229900	Deceleration	36	21
2023-11-24	7.59	7.30	15.60	21653700	Upward Expansion	39	24
2023-11-17	7.59	7.29	14.66	24353300	Upward Expansion	42	28
2023-11-10	7.59	7.27	17.30	10579900	Upward Expansion	45	32
2023-11-03	7.59	7.25	15.40	10917100	Upward Expansion	48	36
2023-10-27	7.68	7.24	19.90	11737600	Upward Expansion	64	43
2023-10-20	7.64	7.22	18.93	22268700	Upward Expansion	63	46
2023-10-13	7.64	7.20	15.33	9978700	Upward Expansion	66	53

Price vs TrendAbove+3.3%

Trend directionRising+4.5%

Price vs current Fair ValuePremium+17.8%

Fair Value directionMoving away-1.0%

Relative Strength vs benchmarkLagging-1.1%

Relative strength directionImproving+6.3%

Price momentumPositive+8.7%

Volume balanceSupply-led0.86×

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

42 / ±100

-3.5 points since 2026-09-04

Energy

31 /100

-10.9 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.

TTW Directional State ↗ TTW Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance34

Rotation Up35

Upward Expansion63

Deceleration88

Rotation Down27

Downward Expansion16

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 12%Rotation Up 1%Upward Expansion 52%Deceleration 24%Rotation Down 3%Downward Expansion 8%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Deceleration	2026-09-11	2026-10-02	New	-1.0%
Upward Expansion	2026-01-16	2026-09-04	Extended	+13.6%
Deceleration	2025-12-05	2026-01-09	Developing	+0.6%
Upward Expansion	2025-08-01	2025-11-28	Established	+3.4%
Rotation Down	2025-06-27	2025-07-25	Developing	+4.1%
Balance	2025-06-13	2025-06-20	New	-2.3%
Upward Expansion	2025-05-09	2025-06-06	Developing	-1.1%
Balance	2025-01-31	2025-05-02	Established	+3.4%
Deceleration	2024-11-08	2025-01-24	Developing	-1.1%
Upward Expansion	2024-09-27	2024-11-01	Developing	-3.2%
Rotation Up	2024-09-13	2024-09-20	New	+2.2%
Balance	2024-08-30	2024-09-06	New	+3.3%
Downward Expansion	2024-06-07	2024-08-23	Developing	+1.7%
Deceleration	2024-03-22	2024-05-31	Developing	-1.7%

Classic Stage Analysis comparison

Stage 1 · Basing29

Stage 2 · Advancing78

Stage 3 · Distribution59

Stage 4 · Declining22

Legacy result: Stage 2 · Stage 2B · Advancing. 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

Lagging benchmark

Architecture confirmation: 42/100
Current Relative Strength: -1.14
Relative Strength direction: Improving
Price momentum: +8.7%
Excess performance vs benchmark: +0.6%
Utilities regime cohort: 85th percentile13 in cohort

Test TTW trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume3.24×

Latest completed volume relative to typical participation.

Up/down volume0.86×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+75.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+12.5%

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 TTW Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity THB 10.13rising

Slow Activity THB 9.91rising

Trend Reference THB 9.68+3.3% close margin

Current Fair Value THB 8.49+17.8% close margin

Structural low THB 9.15shock / repair context

What changes the read?

Renewed positive order and expanding width produce re-acceleration; fast/slow failure with downside acceptance produces Rotation Down.

Range context +2.4%

Annualized volatility +9.4%

From structural high -4.8%

From structural low +16.1%

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	14	+0.3%-2.7% to +6.0%	+50.0%	+50.0%	+1.3%	+57.1%	Usable descriptive sample
Intermediate	6	+0.3%-2.2% to +8.4%	+50.0%	+50.0%	+3.9%	+0.0%	Usable descriptive sample
Extended	6	+3.9%-3.5% to +8.3%	+66.7%	+66.7%	+2.1%	+33.3%	Usable descriptive sample
Full cycle	3	+4.5%-22.3% to +11.2%	+66.7%	+66.7%	+18.1%	+33.3%	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.

TTW Stage Analysis

What the Activity Line geometry says now

The upward structure remains, but its energy is decelerating.

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

Lagging 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 upward structure remains, but its energy is decelerating.

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 ?

Lagging 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