{
  "ticker": {
    "uuid": "323831dd-1528-4571-84ff-cc3b8dcc2108",
    "symbol": "FLUI",
    "name": "Fluicell 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": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 57.009,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Recompressing",
    "architecture_gate": "up",
    "architecture_direction": 19.679,
    "architecture_energy": 13.033,
    "architecture_maturity": 69.084,
    "architecture_confidence": 96,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 62.44,
        "rotation_up": 20.06,
        "upward_expansion": 45.5,
        "deceleration": 87.2,
        "rotation_down": 26.25,
        "downward_expansion": 23.5
      },
      "activity_lines": [
        31.353333,
        32.501818,
        32.713333,
        28.54871
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.0
    },
    "latest_close": 30.0,
    "trend_reference": 22.833333,
    "distance_from_trend": 0.313869,
    "trend_direction": "Improving",
    "fair_value": 33.378291,
    "distance_from_fair_value": -0.101212,
    "fair_value_direction": "Improving",
    "relative_strength": 47.452051,
    "relative_strength_direction": "Weakening",
    "price_momentum": 2.174603,
    "excess_performance": 2.113109,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.313869,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.512141,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.101212,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.089666,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.474521,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -1.044774,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 2.174603,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.209089,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 16555,
      "relative_activity": 0.273966,
      "balance": 4.209089,
      "dry_up": 0.221705,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.303077,
      "annualized_volatility": 1.586359,
      "from_high_reference": -0.553571,
      "from_low_reference": 2.921569
    },
    "levels": {
      "trend_reference": 22.833333,
      "fair_value_reference": 33.378291,
      "structural_low": 8.8,
      "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": 3,
        "median_return": -0.15,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.200458,
        "regime_survival": 0.333333,
        "best_return": 0.128748,
        "worst_return": -0.166667,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": 0.14269,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.100713,
        "regime_survival": 0.0,
        "best_return": 0.43,
        "worst_return": -0.144621,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 1.073898,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 1.011759,
        "regime_survival": 0.0,
        "best_return": 2.4,
        "worst_return": -0.252205,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.62963,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.726711,
        "regime_survival": 0.0,
        "best_return": -0.62963,
        "worst_return": -0.62963,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-04-12",
        "end": "2024-08-16",
        "tenure": "Established",
        "return": -0.162553,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-23",
        "end": "2024-09-13",
        "tenure": "New",
        "return": -0.173246,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-09-20",
        "end": "2025-08-29",
        "tenure": "Extended",
        "return": -0.6337,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-09-05",
        "end": "2025-09-26",
        "tenure": "New",
        "return": 0.44186,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-10-03",
        "end": "2025-10-10",
        "tenure": "New",
        "return": -0.107955,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-17",
        "end": "2025-10-31",
        "tenure": "New",
        "return": -0.043796,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-11-07",
        "end": "2025-12-05",
        "tenure": "Developing",
        "return": -0.145161,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-12-12",
        "end": "2025-12-26",
        "tenure": "New",
        "return": 0.018018,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-01-02",
        "end": "2026-01-09",
        "tenure": "New",
        "return": 0.05,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-16",
        "end": "2026-02-27",
        "tenure": "Developing",
        "return": 0.224299,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2026-04-03",
        "tenure": "Developing",
        "return": 0.324074,
        "active": false
      },
      {
        "regime": "rotation_up",
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        "color": "teal",
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        "return": 0.036364,
        "active": false
      },
      {
        "regime": "upward_expansion",
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        "return": 0.017964,
        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-08-07",
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        "return": -0.166667,
        "active": true
      }
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        "date": "2023-08-18",
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      },
      {
        "date": "2026-04-24",
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      },
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        "date": "2026-05-01",
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 37053.85,
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 48205.6,
        "trend": 13.02,
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      },
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        "date": "2026-05-22",
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      },
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        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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        "typical_volume": 68840.6,
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        "stage": 2,
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      },
      {
        "date": "2026-06-26",
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        "typical_volume": 66859.85,
        "trend": 18.473333,
        "fair_value": 36.726533,
        "relative_strength": 64.156538,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 48.325843,
        "energy": 39.011233,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "volume": 2801,
        "typical_volume": 65727.9,
        "trend": 19.253333,
        "fair_value": 36.142027,
        "relative_strength": 88.731155,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Established expansion",
        "gate": "up",
        "direction": 41.245115,
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        "activity_lines": [
          34.02,
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      },
      {
        "date": "2026-07-10",
        "close": 36.0,
        "volume": 24046,
        "typical_volume": 61733.4,
        "trend": 20.083333,
        "fair_value": 35.53695,
        "relative_strength": 98.51501,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 38.084692,
        "energy": 23.28273,
        "activity_lines": [
          33.88,
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          25.913871
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      },
      {
        "date": "2026-07-17",
        "close": 33.0,
        "volume": 8638,
        "typical_volume": 60042.1,
        "trend": 20.813333,
        "fair_value": 35.045168,
        "relative_strength": 79.409673,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.850463,
        "energy": 20.972722,
        "activity_lines": [
          33.446667,
          35.923636,
          31.659286,
          26.747204
        ]
      },
      {
        "date": "2026-07-24",
        "close": 31.299999,
        "volume": 12225,
        "typical_volume": 59920.15,
        "trend": 21.48,
        "fair_value": 34.447529,
        "relative_strength": 64.276493,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 34.148808,
        "energy": 19.665449,
        "activity_lines": [
          32.833333,
          34.818182,
          32.155238,
          27.423763
        ]
      },
      {
        "date": "2026-07-31",
        "close": 31.1,
        "volume": 16170,
        "typical_volume": 60145.4,
        "trend": 22.183333,
        "fair_value": 33.875739,
        "relative_strength": 58.352683,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 31.986226,
        "energy": 16.896824,
        "activity_lines": [
          32.38,
          33.729091,
          32.534524,
          28.044409
        ]
      },
      {
        "date": "2026-08-07",
        "close": 30.0,
        "volume": 16555,
        "typical_volume": 60427.1,
        "trend": 22.833333,
        "fair_value": 33.378291,
        "relative_strength": 47.452051,
        "stage": 1,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 19.679246,
        "energy": 13.032937,
        "activity_lines": [
          31.353333,
          32.501818,
          32.713333,
          28.54871
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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."
    }
  }
}