🇸🇪 Sweden · Market Internals
STO Advance / Decline
Nasdaq Stockholm breadth through Sharemaestro's weekly signal stack: price participation, fair value, trend, market dynamics, smart money, reversal pressure, and similar-state expectancy.
STO is in a fragile bounce regime. Breadth quality is weak at 37/100, with 64% advancing, 39% above fair value, and 57% carrying positive market dynamics. Reversal pressure is low at 29/100 and sector participation is 27/100. Narrow participation is the main divergence to watch.
A/D Spine
Advance / Decline line
Black shows cumulative net advancers. Green is the 30-week trend line.
Participation Confirmation
How broad is the move?
More readings above 50% means the average stock is participating, not just the index headline.
Quality vs Risk
Is strength beating pressure?
Quality, thrust, and sector spread are constructive. Reversal pressure is the risk reading, so lower is better.
High / Low Tape
Are leaders expanding?
Green bars above zero are new highs. Red bars below zero are new lows. Better tapes show highs expanding and lows shrinking.
Risk Components
Where is the damage?
Declining breadth shows broad weakness; warnings and danger show where weakness has become structurally risky.
Divergence Engine
Alerts worth attention
Similar-State Expectancy
What happened next before
Similar historical states had positive 4-week A/D follow-through 30% of the time.
Sector Rotation Through Breadth
Sector participation heatmap
Strongest Internal Improvement
Names improving below the surface
| Ticker | Sector | Industry | Move | Score |
|---|---|---|---|---|
| PHAL PharmaLundensis AB |
Healthcare | Biotechnology | 574.47% | 574.5 |
| ALZCUR AlzeCure Pharma AB (publ) |
Healthcare | Biotechnology | 94.91% | 94.9 |
| NICO Nicoccino Holding AB (publ) |
Consumer Defensive | Tobacco | 66.67% | 74.7 |
| AINO Aino Health AB (publ) |
Healthcare | Health Information Services | 49.22% | 55.2 |
| VUXEN Vuxen Group AB |
Consumer Cyclical | Internet Retail | 49.00% | 55.0 |
| SUBGEN Subgen AI AB |
Technology | Software - Infrastructure | 53.42% | 53.4 |
| SPEC SpectraCure AB (publ) |
Healthcare | Medical Devices | 48.03% | 48.0 |
| HUM Humana AB (publ) |
Healthcare | Medical Care Facilities | 34.69% | 42.7 |
| VIVA Viva Wine Group AB |
Consumer Defensive | Beverages - Wineries & Distilleries | 36.20% | 42.2 |
| STHLM Stockholm Treasury AB (publ) |
Financial Services | Asset Management | 38.64% | 38.6 |
| LEMSE Leading Edge Materials Corp. |
Basic Materials | Other Industrial Metals & Mining | 33.97% | 34.0 |
| AXIC-A aXichem AB |
Basic Materials | Specialty Chemicals | 31.91% | 31.9 |
Weakest Internal Deterioration
Names losing sponsorship
| Ticker | Sector | Industry | Move | Score |
|---|---|---|---|---|
| ACE Ascelia Pharma AB (publ) |
Healthcare | Biotechnology | -73.77% | -73.8 |
| MONI Monivent AB |
Healthcare | Medical Devices | -57.07% | -57.1 |
| TENEO Teneo AI AB (publ) |
Technology | Software - Infrastructure | -47.43% | -47.4 |
| HFRTO-B HF Reverse (RTO) AB |
Financial Services | Shell Companies | -41.25% | -41.3 |
| HCRTO2 Hunter Capital RTO 2 AB (publ) |
Financial Services | Shell Companies | -36.20% | -36.2 |
| MAXENT-B Maximum Entertainment AB |
Communication Services | Electronic Gaming & Multimedia | -34.55% | -34.6 |
| BIOSGN Biosergen AB (publ) |
Healthcare | Biotechnology | -33.33% | -33.3 |
| PROGEN Prostatype Genomics AB (publ) |
Healthcare | Diagnostics & Research | -29.94% | -29.9 |
| DVYSR Devyser Diagnostics AB (publ) |
Healthcare | Medical Devices | -28.59% | -28.6 |
| PEXA-B PExA AB |
Healthcare | Medical Devices | -27.19% | -27.2 |
| ORTIN Ortelius International AB |
Technology | Information Technology Services | -22.37% | -22.4 |
| SALT-B SaltX Technology Holding AB (… |
Industrials | Specialty Industrial Machinery | -18.97% | -19.0 |
Advance / Decline Line
The A/D line is a cumulative record of advancing stocks minus declining stocks each week. It helps show whether index movement is broadly supported or driven by fewer names. The green Trend Line is a 30-week EMA of the A/D line.
Breadth Quality
Breadth Quality is Sharemaestro's high-level read on whether participation is broad, confirmed, and internally healthy. It blends participation, trend, fair-value position, market dynamics, sector spread, and pressure context without exposing the exact weighting.
As a guide, 65+ is constructive, 45-64 is mixed, and below 45 is fragile or weak.
Reversal Pressure
Reversal Pressure measures whether internal risk is building across the exchange. It pays attention to reversal warning clusters, danger clusters, weakening dynamics, fair-value deterioration, and downside participation.
This score is inverted: below 35 is healthier, 35-54 is elevated, and 55+ means risk pressure is high.
Historical Expectancy
This compares the current exchange state with similar historical breadth states and summarizes what happened to the A/D line over the following weeks. It is context, not a forecast guarantee.
Market Internals Verdict
The verdict turns the latest breadth, confirmation, pressure, and sector-spread readings into a plain-English exchange read. It is designed to answer: is participation healthy, fragile, improving, or deteriorating?
Participation Confirmation
This panel asks whether the exchange is improving across multiple layers, not just price. Readings above 50% mean more than half of the exchange is participating. A healthier market usually has several bars above 50%, not just one.
Quality vs Risk
This panel places constructive readings beside risk. Quality, thrust, and sector participation are better when higher. Reversal pressure is different: lower is healthier, while a high reading means warnings and danger are building under the surface.
New Highs / New Lows
New highs show leadership broadening. New lows show unresolved damage. Green bars above zero and red bars below zero make it easier to see whether leadership is expanding or damage is spreading.
Risk Components
This separates ordinary declining breadth from Sharemaestro reversal warning and danger clusters. For retail investors, the key question is whether weakness is just a normal pullback or whether the risk stack is starting to build.
Divergence Engine
Divergences look for disagreement between price direction and the internal tape, such as index strength with weak participation, or index weakness while breadth quality starts repairing.
Sector Participation Heatmap
The heatmap shows whether breadth is concentrated or spreading. It is often more useful than the headline index because it reveals which sectors are participating, repairing, or carrying risk.
Exchange Earnings Multiple
Exchange Earnings Multiple is Sharemaestro's broad valuation lens for an exchange. It converts constituent earnings yield into an exchange-level multiple, weighted by market cap where possible.
It is not Shiller CAPE and it is not a prediction. It answers a simpler retail-investor question: is this exchange being priced richly or cheaply against the earnings power currently available in its listed companies?
Higher readings suggest a richer valuation backdrop; lower readings suggest a cheaper one. The chart starts with the weekly factor history we have and extends automatically as new factor snapshots are built.