{
  "ticker": {
    "uuid": "1c1d73c1-0622-4295-acbe-b3794b2e5235",
    "symbol": "ELON",
    "name": "Elon 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": "1a",
    "phase_label": "Stage 1A \u00b7 Bottoming",
    "transition": "stage_1_building",
    "transition_label": "Base still building",
    "confidence": 76.601,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "down",
    "architecture_direction": -41.944,
    "architecture_energy": 21.946,
    "architecture_maturity": 10.147,
    "architecture_confidence": 92.97,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 46.24,
        "rotation_up": 22.01,
        "upward_expansion": 6.08,
        "deceleration": 42.95,
        "rotation_down": 42.59,
        "downward_expansion": 70.08
      },
      "activity_lines": [
        18.753333,
        18.778181,
        19.038809,
        19.053656
      ],
      "activity_state": "Compressed",
      "activity_direction": "Stable",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 19.049999,
    "trend_reference": 19.085,
    "distance_from_trend": -0.001834,
    "trend_direction": "Improving",
    "fair_value": 22.347243,
    "distance_from_fair_value": -0.147546,
    "fair_value_direction": "Weakening",
    "relative_strength": -9.512984,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.037879,
    "excess_performance": -0.099373,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.001834,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.033764,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.147546,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.023728,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.09513,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.009794,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.037879,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.7044,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 12884,
      "relative_activity": 0.791262,
      "balance": 0.7044,
      "dry_up": 0.627286,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.074097,
      "annualized_volatility": 0.395226,
      "from_high_reference": -0.20625,
      "from_low_reference": 0.265781
    },
    "levels": {
      "trend_reference": 19.085,
      "fair_value_reference": 22.347243,
      "structural_low": 15.05,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 27,
        "median_return": -0.022222,
        "positive_rate": 0.222222,
        "directional_follow_through": 0.222222,
        "median_excess_return": -0.026268,
        "regime_survival": 0.62963,
        "best_return": 0.296919,
        "worst_return": -0.215889,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 11,
        "median_return": -0.07837,
        "positive_rate": 0.272727,
        "directional_follow_through": 0.272727,
        "median_excess_return": -0.048969,
        "regime_survival": 0.272727,
        "best_return": 0.148036,
        "worst_return": -0.303849,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": -0.088063,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.285714,
        "median_excess_return": -0.132255,
        "regime_survival": 0.142857,
        "best_return": 0.451411,
        "worst_return": -0.314471,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.168491,
        "positive_rate": 0.25,
        "directional_follow_through": 0.25,
        "median_excess_return": -0.288476,
        "regime_survival": 0.5,
        "best_return": 0.03535,
        "worst_return": -0.475584,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-01",
        "end": "2024-07-05",
        "tenure": "Established",
        "return": -0.035922,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-07-12",
        "end": "2024-07-26",
        "tenure": "New",
        "return": -0.042146,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-08-02",
        "end": "2024-08-16",
        "tenure": "New",
        "return": 0.021008,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-08-23",
        "end": "2024-09-06",
        "tenure": "New",
        "return": 0.129167,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-12-06",
        "tenure": "Established",
        "return": -0.069343,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-13",
        "end": "2025-01-24",
        "tenure": "Developing",
        "return": 0.048,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-31",
        "end": "2025-03-21",
        "tenure": "Developing",
        "return": -0.098113,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-28",
        "end": "2025-05-30",
        "tenure": "Developing",
        "return": 0.032749,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-08-22",
        "tenure": "Developing",
        "return": -0.026087,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-08-29",
        "end": "2026-01-30",
        "tenure": "Established",
        "return": -0.002577,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-02-06",
        "end": "2026-02-27",
        "tenure": "New",
        "return": -0.143939,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-06",
        "end": "2026-04-17",
        "tenure": "Developing",
        "return": 0.023316,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "return": -0.005063,
        "active": false
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      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2026-08-07",
        "tenure": "Developing",
        "return": 0.026954,
        "active": true
      }
    ],
    "chart_path": [
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        "fair_value": 23.222816,
        "relative_strength": -12.978295,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 42.675673,
        "activity_lines": [
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      },
      {
        "date": "2026-05-01",
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        "trend": 18.268333,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "modifier": "Re-accelerating",
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        "direction": 56.813888,
        "energy": 33.30989,
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      },
      {
        "date": "2026-05-15",
        "close": 19.450001,
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        "typical_volume": 30037.55,
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        "relative_strength": -10.149274,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 46.116778,
        "energy": 23.537535,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 30218.4,
        "trend": 18.421667,
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        "relative_strength": -8.607208,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 53.563848,
        "energy": 27.415085,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 28813.6,
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        "fair_value": 22.847722,
        "relative_strength": -11.258654,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-06-05",
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        "volume": 4769,
        "typical_volume": 26329.4,
        "trend": 18.515,
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        "relative_strength": -8.11762,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 48.167269,
        "energy": 30.211584,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 1560,
        "typical_volume": 24616.8,
        "trend": 18.556667,
        "fair_value": 22.737936,
        "relative_strength": -14.138902,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -10.914012,
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        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 29.143148,
        "energy": 14.086014,
        "activity_lines": [
          19.273333,
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          19.100968
        ]
      },
      {
        "date": "2026-06-26",
        "close": 18.6,
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        "typical_volume": 23724.6,
        "trend": 18.673334,
        "fair_value": 22.641894,
        "relative_strength": -12.594267,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 17.564036,
        "energy": 13.119758,
        "activity_lines": [
          18.98,
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          19.249524,
          19.099355
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      },
      {
        "date": "2026-07-03",
        "close": 19.65,
        "volume": 4565,
        "typical_volume": 23198.1,
        "trend": 18.771667,
        "fair_value": 22.590206,
        "relative_strength": -9.373294,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 30.072432,
        "energy": 16.840133,
        "activity_lines": [
          19.15,
          19.316364,
          19.301667,
          19.162366
        ]
      },
      {
        "date": "2026-07-10",
        "close": 18.549999,
        "volume": 7360,
        "typical_volume": 21810.0,
        "trend": 18.845,
        "fair_value": 22.539039,
        "relative_strength": -11.66825,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "up",
        "direction": 6.970337,
        "energy": 7.560498,
        "activity_lines": [
          18.943333,
          19.166363,
          19.250238,
          19.148065
        ]
      },
      {
        "date": "2026-07-17",
        "close": 17.5,
        "volume": 8168,
        "typical_volume": 20114.95,
        "trend": 18.895,
        "fair_value": 22.485801,
        "relative_strength": -14.91447,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -27.493933,
        "energy": 29.609123,
        "activity_lines": [
          18.476666,
          18.823636,
          19.095714,
          19.06129
        ]
      },
      {
        "date": "2026-07-24",
        "close": 18.5,
        "volume": 9658,
        "typical_volume": 18228.0,
        "trend": 18.973333,
        "fair_value": 22.43839,
        "relative_strength": -10.683308,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -20.539636,
        "energy": 26.993048,
        "activity_lines": [
          18.403333,
          18.711818,
          19.033809,
          19.035806
        ]
      },
      {
        "date": "2026-07-31",
        "close": 19.25,
        "volume": 10146,
        "typical_volume": 16349.3,
        "trend": 19.05,
        "fair_value": 22.388215,
        "relative_strength": -7.55132,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -15.047686,
        "energy": 23.082449,
        "activity_lines": [
          18.633333,
          18.753636,
          19.047143,
          19.053656
        ]
      },
      {
        "date": "2026-08-07",
        "close": 19.049999,
        "volume": 12884,
        "typical_volume": 16282.85,
        "trend": 19.085,
        "fair_value": 22.347243,
        "relative_strength": -9.512984,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
        "direction": -41.943708,
        "energy": 21.946108,
        "activity_lines": [
          18.753333,
          18.778181,
          19.038809,
          19.053656
        ]
      }
    ],
    "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."
    }
  }
}