{
  "ticker": {
    "uuid": "2ee7198b-5a4f-4bc5-a991-532ca9e4ee4b",
    "symbol": "SOLNA",
    "name": "Solnaberg Property 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": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 80.51,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "up",
    "architecture_direction": 48.477,
    "architecture_energy": 23.031,
    "architecture_maturity": 39.076,
    "architecture_confidence": 50.52,
    "architecture_tenure": "Established",
    "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": 46.32,
        "rotation_up": 39.11,
        "upward_expansion": 70.38,
        "deceleration": 65.69,
        "rotation_down": 20.43,
        "downward_expansion": 1.71
      },
      "activity_lines": [
        115.433333,
        115.317281,
        114.95407,
        114.425996
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.333333
    },
    "latest_close": 116.0,
    "trend_reference": 113.782046,
    "distance_from_trend": 0.019493,
    "trend_direction": "Weakening",
    "fair_value": 102.342453,
    "distance_from_fair_value": 0.133449,
    "fair_value_direction": "Weakening",
    "relative_strength": -10.833588,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.03524,
    "excess_performance": -0.026254,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.019493,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.008887,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.133449,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.037351,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.108336,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.017342,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.03524,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.792736,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 6243,
      "relative_activity": 0.353634,
      "balance": 2.792736,
      "dry_up": 0.343325,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.027643,
      "annualized_volatility": 0.153457,
      "from_high_reference": -0.062622,
      "from_low_reference": 0.082728
    },
    "levels": {
      "trend_reference": 113.782046,
      "fair_value_reference": 102.342453,
      "structural_low": 107.136751,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 20,
        "median_return": -0.003931,
        "positive_rate": 0.45,
        "directional_follow_through": 0.45,
        "median_excess_return": -0.012781,
        "regime_survival": 0.65,
        "best_return": 0.102273,
        "worst_return": -0.138462,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.009819,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.011555,
        "regime_survival": 0.375,
        "best_return": 0.105152,
        "worst_return": -0.28735,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": -0.020293,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.081785,
        "regime_survival": 0.333333,
        "best_return": 0.131122,
        "worst_return": -0.269495,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": -0.200173,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.144227,
        "regime_survival": 0.333333,
        "best_return": 0.106065,
        "worst_return": -0.270097,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-02-02",
        "end": "2024-03-15",
        "tenure": "Developing",
        "return": 0.101123,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-03-22",
        "end": "2024-11-15",
        "tenure": "Extended",
        "return": 0.214829,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-11-22",
        "end": "2025-01-10",
        "tenure": "Developing",
        "return": 0.00905,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-01-17",
        "end": "2025-03-28",
        "tenure": "Developing",
        "return": 0.053812,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-04-04",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.043478,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-02",
        "end": "2025-06-13",
        "tenure": "Developing",
        "return": -0.02459,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-06-20",
        "end": "2025-07-11",
        "tenure": "New",
        "return": 0.041667,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-07-18",
        "end": "2025-08-15",
        "tenure": "Developing",
        "return": -0.016393,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-22",
        "end": "2025-09-26",
        "tenure": "Developing",
        "return": 0.024793,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-03",
        "end": "2025-12-05",
        "tenure": "Developing",
        "return": -0.03937,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-12-12",
        "end": "2026-01-23",
        "tenure": "Developing",
        "return": -0.025694,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-01-30",
        "end": "2026-02-06",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-02-13",
        "end": "2026-04-10",
        "tenure": "Developing",
        "return": 0.021777,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-04-17",
        "end": "2026-08-07",
        "tenure": "Established",
        "return": 0.0131,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "typical_volume": 5946.1,
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        "close": 113.5,
        "volume": 19643,
        "typical_volume": 18446.65,
        "trend": 115.568212,
        "fair_value": 98.647483,
        "relative_strength": -12.553765,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -12.841407,
        "energy": 13.70064,
        "activity_lines": [
          114.140171,
          113.217327,
          113.128428,
          114.071752
        ]
      },
      {
        "date": "2026-05-01",
        "close": 114.5,
        "volume": 2680,
        "typical_volume": 18339.45,
        "trend": 115.292122,
        "fair_value": 98.844209,
        "relative_strength": -10.242668,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -9.894528,
        "energy": 13.332433,
        "activity_lines": [
          114.466667,
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          113.199901,
          114.002835
        ]
      },
      {
        "date": "2026-05-08",
        "close": 116.0,
        "volume": 11646,
        "typical_volume": 18508.65,
        "trend": 115.162712,
        "fair_value": 99.077549,
        "relative_strength": -9.099364,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -0.703281,
        "energy": 10.556659,
        "activity_lines": [
          114.933333,
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          114.048504
        ]
      },
      {
        "date": "2026-05-15",
        "close": 114.0,
        "volume": 9108,
        "typical_volume": 18931.85,
        "trend": 115.031088,
        "fair_value": 99.306168,
        "relative_strength": -9.229894,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -8.067263,
        "energy": 9.81736,
        "activity_lines": [
          114.6,
          114.262626,
          113.452585,
          113.97349
        ]
      },
      {
        "date": "2026-05-22",
        "close": 114.0,
        "volume": 19504,
        "typical_volume": 19343.25,
        "trend": 114.899464,
        "fair_value": 99.564483,
        "relative_strength": -12.022728,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -9.630661,
        "energy": 9.235192,
        "activity_lines": [
          114.433333,
          114.313753,
          113.497925,
          113.906969
        ]
      },
      {
        "date": "2026-05-29",
        "close": 116.0,
        "volume": 111075,
        "typical_volume": 24747.95,
        "trend": 114.80228,
        "fair_value": 99.81942,
        "relative_strength": -9.894958,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 17.231303,
        "energy": 14.770018,
        "activity_lines": [
          114.966667,
          114.710956,
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          113.977971
        ]
      },
      {
        "date": "2026-06-05",
        "close": 113.099174,
        "volume": 2332,
        "typical_volume": 21027.75,
        "trend": 114.576176,
        "fair_value": 100.055763,
        "relative_strength": -11.207581,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -25.505731,
        "energy": 10.866328,
        "activity_lines": [
          114.366391,
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          113.740174,
          113.868093
        ]
      },
      {
        "date": "2026-06-12",
        "close": 113.590912,
        "volume": 1223,
        "typical_volume": 19913.7,
        "trend": 114.398689,
        "fair_value": 100.297957,
        "relative_strength": -10.368069,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -26.698763,
        "energy": 11.603657,
        "activity_lines": [
          114.023417,
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        ]
      },
      {
        "date": "2026-06-19",
        "close": 113.590912,
        "volume": 18648,
        "typical_volume": 19571.55,
        "trend": 114.253429,
        "fair_value": 100.553651,
        "relative_strength": -11.778139,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -21.397908,
        "energy": 10.03169,
        "activity_lines": [
          113.841049,
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          113.752413
        ]
      },
      {
        "date": "2026-06-26",
        "close": 113.099174,
        "volume": 14705,
        "typical_volume": 18570.3,
        "trend": 114.027324,
        "fair_value": 100.808891,
        "relative_strength": -11.097914,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -28.497851,
        "energy": 17.40834,
        "activity_lines": [
          113.52204,
          113.931481,
          113.797207,
          113.677945
        ]
      },
      {
        "date": "2026-07-03",
        "close": 119.0,
        "volume": 28604,
        "typical_volume": 19855.6,
        "trend": 114.062367,
        "fair_value": 101.088459,
        "relative_strength": -8.719714,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 37.083802,
        "energy": 30.204788,
        "activity_lines": [
          115.230029,
          114.815478,
          114.336219,
          113.998763
        ]
      },
      {
        "date": "2026-07-10",
        "close": 115.0,
        "volume": 18912,
        "typical_volume": 19483.9,
        "trend": 114.028529,
        "fair_value": 101.33843,
        "relative_strength": -9.440084,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 40.060797,
        "energy": 34.827077,
        "activity_lines": [
          115.404684,
          114.872202,
          114.47055,
          114.059255
        ]
      },
      {
        "date": "2026-07-17",
        "close": 115.0,
        "volume": 4686,
        "typical_volume": 18206.1,
        "trend": 113.994691,
        "fair_value": 101.596612,
        "relative_strength": -8.152455,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 41.969024,
        "energy": 38.185262,
        "activity_lines": [
          115.452617,
          114.919835,
          114.581479,
          114.121931
        ]
      },
      {
        "date": "2026-07-24",
        "close": 115.5,
        "volume": 4185,
        "typical_volume": 17715.15,
        "trend": 113.945294,
        "fair_value": 101.855262,
        "relative_strength": -8.899612,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 44.540397,
        "energy": 41.376046,
        "activity_lines": [
          115.573278,
          115.07656,
          114.725985,
          114.219047
        ]
      },
      {
        "date": "2026-07-31",
        "close": 115.0,
        "volume": 9130,
        "typical_volume": 17691.35,
        "trend": 113.847003,
        "fair_value": 102.097021,
        "relative_strength": -10.210653,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 41.40296,
        "energy": 20.529634,
        "activity_lines": [
          115.4,
          115.115102,
          114.797089,
          114.287093
        ]
      },
      {
        "date": "2026-08-07",
        "close": 116.0,
        "volume": 6243,
        "typical_volume": 17653.85,
        "trend": 113.782046,
        "fair_value": 102.342453,
        "relative_strength": -10.833588,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 48.477393,
        "energy": 23.030886,
        "activity_lines": [
          115.433333,
          115.317281,
          114.95407,
          114.425996
        ]
      }
    ],
    "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."
    }
  }
}