{ "ticker": { "uuid": "2b54e02b-1441-43ca-8cf6-5798bc73166f", "symbol": "NKTR", "name": "Nektar Therapeutics", "exchange": "NASDAQ", "country": "US", "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": "QQQ", "stage": 2, "stage_name": "Advancing", "phase": "2a", "phase_label": "Stage 2A \u00b7 Early advance", "transition": "stage_2_healthy", "transition_label": "Stage 2 trend intact", "confidence": 96.0, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "up", "architecture_direction": 45.016, "architecture_energy": 29.402, "architecture_maturity": 24.133, "architecture_confidence": 65.276, "architecture_tenure": "New", "architecture": { "interpretation": { "headline": "The prior uptrend is attempting to re-accelerate.", "body": "Positive Trend survived a recompression and Fast Activity is strengthening again. Promotion requires renewed confirmation across the completed evidence set." }, "scores": { "balance": 38.03, "rotation_up": 66.5, "upward_expansion": 61.01, "deceleration": 46.63, "rotation_down": 6.1, "downward_expansion": 18.34 }, "activity_lines": [ 72.275667, 69.735091, 69.915714, 70.263484 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 76.48, "trend_reference": 67.271833, "distance_from_trend": 0.13688, "trend_direction": "Improving", "fair_value": 29.733077, "distance_from_fair_value": 1.572219, "fair_value_direction": "Weakening", "relative_strength": 12.156273, "relative_strength_direction": "Weakening", "price_momentum": 1.077696, "excess_performance": 0.890243, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.13688, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.080678, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 1.572219, "read": "Premium" }, { "label": "Fair Value direction", "positive": false, "value": -0.714554, "read": "Moving away" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.121563, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.340244, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 1.077696, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.982652, "read": "Supply-led" } ], "volume": { "latest": 3213620, "relative_activity": 0.654833, "balance": 0.982652, "dry_up": 0.724878, "accumulation_observations": 2, "distribution_observations": 3 }, "risk": { "range_context": 0.098543, "annualized_volatility": 1.026375, "from_high_reference": -0.298349, "from_low_reference": 2.432506 }, "levels": { "trend_reference": 67.271833, "fair_value_reference": 29.733077, "structural_low": 35.595, "invalidation": "A 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65.137833, "fair_value": 28.930769, "relative_strength": 12.502403, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 36.746856, "energy": 26.430586, "activity_lines": [ 69.565, 66.807273, 69.578048, 69.233419 ] }, { "date": "2026-07-31", "close": 70.67, "volume": 3688203, "typical_volume": 4922542.0, "trend": 66.046167, "fair_value": 29.332571, "relative_strength": 10.388495, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 28.010249, "energy": 21.974139, "activity_lines": [ 70.186, 67.779909, 69.464071, 69.590333 ] }, { "date": "2026-08-07", "close": 76.48, "volume": 3213620, "typical_volume": 4907543.15, "trend": 67.271833, "fair_value": 29.733077, "relative_strength": 12.156273, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "up", "direction": 45.016242, "energy": 29.402122, "activity_lines": [ 72.275667, 69.735091, 69.915714, 70.263484 ] } ], "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." } } }