{
  "ticker": {
    "uuid": "13c89264-4127-4f05-8fed-0cdd2cca2f26",
    "symbol": "HEXA-B",
    "name": "Hexagon AB (publ)",
    "exchange": "STO",
    "country": "SE",
    "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": "^OMX",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1b",
    "phase_label": "Stage 1B \u00b7 Basing",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 78.38,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -0.366,
    "architecture_energy": 14.913,
    "architecture_maturity": 100.0,
    "architecture_confidence": 39.25,
    "architecture_tenure": "Extended",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 55.82,
        "rotation_up": 41.33,
        "upward_expansion": 22.25,
        "deceleration": 40.19,
        "rotation_down": 17.81,
        "downward_expansion": 56.25
      },
      "activity_lines": [
        90.105336,
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        86.42668,
        88.601159
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 97.620003,
    "trend_reference": 91.980732,
    "distance_from_trend": 0.061309,
    "trend_direction": "Weakening",
    "fair_value": 105.147852,
    "distance_from_fair_value": -0.071593,
    "fair_value_direction": "Improving",
    "relative_strength": -13.915595,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.019332,
    "excess_performance": -0.042162,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.061309,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.084266,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.071593,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.046558,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.139156,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.032692,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.019332,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.730562,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 20902440,
      "relative_activity": 1.03662,
      "balance": 1.730562,
      "dry_up": 1.099467,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.080454,
      "annualized_volatility": 0.555764,
      "from_high_reference": -0.199394,
      "from_low_reference": 0.363929
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    "levels": {
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      "fair_value_reference": 105.147852,
      "structural_low": 71.572639,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 29,
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        "positive_rate": 0.586207,
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        "worst_return": -0.139258,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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      },
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        "horizon": "Full cycle",
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      },
      {
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      },
      {
        "date": "2026-07-24",
        "close": 83.360001,
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        "typical_volume": 19084634.75,
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        "fair_value": 105.236636,
        "relative_strength": -24.970861,
        "stage": 4,
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      },
      {
        "date": "2026-07-31",
        "close": 93.620003,
        "volume": 39451076,
        "typical_volume": 20175212.4,
        "trend": 92.438305,
        "fair_value": 105.177508,
        "relative_strength": -16.364051,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -19.389631,
        "energy": 12.025752,
        "activity_lines": [
          85.558669,
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      },
      {
        "date": "2026-08-07",
        "close": 97.620003,
        "volume": 20902440,
        "typical_volume": 20164030.5,
        "trend": 91.980732,
        "fair_value": 105.147852,
        "relative_strength": -13.915595,
        "stage": 1,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -0.36574,
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        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}