Week Ending: 4 September 2026

Thailand TH Technology Industry

Software - Application

For the week ending 04 September 2026, Software - Application declined 1.58% with 3 advancing, 6 declining, and 2 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

48 technical evidence
Index819.23 1 week-1.58% Breadth27% Members11
Country 🇹🇭 Thailand · TH
Sector Technology
Universe country-listed
Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture
Current architecture Upward Expansion 5 completed weeks in this state
Trend acceptance 10.1% Index versus Trend Line
Persistence 25% Negative regime, shorter trend repairing
Participation 27% 3 advancing, 6 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Hold and wait for confirmation

The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.

48 technical evidence
out of 100
Evidence balance

Five-pillar map

Wait
Trend
76
Breadth
37
Persistence
13
Relative
29
Risk quality
88
What supports the view
  • The index remains above a constructive Trend gate.
What restrains conviction
  • Breadth remains too narrow or inconsistent for a high-conviction position.
  • Constituent persistence remains divided or predominantly negative.
  • The group is not yet delivering dependable relative outperformance.
  • Stage 4 declining constituents exceed Stage 2 advancing constituents by 50 percentage points.
  • Positive contribution is concentrated in a small leadership cohort.
Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view
  1. A completed weekly reclaim of 928.41, the higher of Trend Line and Fair Value, would improve the structural case.
  2. Breadth holding above 55% for several completed weeks would show that repair is spreading.
  3. Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

State age5 weeks
Trend gateUp
Fan width6.86%
Fast versus slow change1.02 pts
Above 100% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative regime, shorter trend repairing

25% agreement

The long trend remains negative, but shorter-horizon repair is now visible.

13-week
8.7%
26-week
10.5%
39-week
3.0%
52-week
-6.4%
Regime age55 weeks 52-week flips0 52-week boundary875.66
Constituent trend persistence

Is the index move broadly durable?

64% coverage
Coherent positive14%
Coherent negative57%
Average horizon agreement96%
Positive horizon share18%
Weakening positives0
Repairing negatives1

7 constituents measured as of 4 Sep 2026. Median trend age is 21 weeks.

Custom stage map

Where constituents sit in the cycle

55% coverage
Stage 1 · Basing17%1 securities
Stage 2 · Advancing17%1 securities
Stage 3 · Distribution0%0 securities
Stage 4 · Declining67%4 securities
Re-acceleration watch0 Transition watch0 Relative strength leaders17% Fair Value repairs1

Measured as of 4 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

75/100 mean confidence
Upward expansion
17% 1
Rotation up
0% 0
Deceleration
17% 1
Balance
17% 1
Rotation down
17% 1
Downward expansion
33% 2
Unresolved
0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to Technology

Improving
Relative index 13-week relative trend Starting level
Rotation dashboard Improving

A rising relative line means this group is compounding faster than Technology. A falling line means capital has done better in the parent benchmark.

Relative index74.9
13-week trend72.8
4-week trend change0.70%
Weekly peer rank5 of 9
1 week
-0.5 pts relative
4 weeks
2.0 pts relative
13 weeks
3.6 pts relative
26 weeks
-15.3 pts relative
52 weeks
-19.2 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Narrow
Advancing
3
Declining
6
Unchanged
2
4-week average 50%
13-week average 48%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility18.3%
Drawdown from 52-week high-5.9%
Positive weeks, last 1354%
Current directional run1 week
Turnover versus 13-week norm1954%
Breadth impulse-22.0 pts
Cross-section

Return distribution

11 measured
Q1 -4.2% Median -1.2% Q3 1.5%
Average winner3.8%
Average loser-4.8%
Dispersion4.5 pts
Top-five upside share100%
Top-five capital share71%
Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

1 qualified records across 11 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 CRM01Salesforce, Inc.
4.37% 2 NOW19ServiceNow, Inc.
3.95% 3 TBNTBN Corporation Public Company Limited
2.94% 4 APPApplicad Public Company Limited
0.00% 5 SPTXSPT X Public Company Limited
0.00%

Weakest edge

11 DDOG19Datadog, Inc.
-11.88% 10 HUMANHumanica Public Company Limited
-5.43% 9 MEBMEB Corporation Public Company Limited
-4.31% 8 ADBE06Adobe Inc.
-4.17% 7 NETBAYNetbay Public Company Limited
-1.60%

Constituent ledger

Industry constituents

All 11 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 CRM01 Salesforce, Inc. SET 3.92B 4.78 0.40 pts
4.37%
2 NOW19 ServiceNow, Inc. SET 4.80B 4.74 0.36 pts
3.95%
3 TBN TBN Corporation Public Company Limited SET 346.00M 3.50 0.27 pts
2.94%
4 APP Applicad Public Company Limited SET 856.80M 3.08 0.00 pts
0.00%
5 SPTX SPT X Public Company Limited SET 2.14B 0.01 0.00 pts
0.00%
6 BVG BlueVenture Group Public Company Limited SET 715.50M 1.59 -0.11 pts
-1.24%
7 NETBAY Netbay Public Company Limited SET 2.44B 12.30 -0.15 pts
-1.60%
8 ADBE06 Adobe Inc. SET 930.15M 2.30 -0.38 pts
-4.17%
9 MEB MEB Corporation Public Company Limited SET 3.30B 11.10 -0.39 pts
-4.31%
10 HUMAN Humanica Public Company Limited SET 3.48B 4.18 -0.49 pts
-5.43%
11 DDOG19 Datadog, Inc. SET 2.62B 7.05 -1.08 pts
-11.88%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Evidence context