{ "ticker": { "uuid": "4ce02c99-cb68-4dea-b30a-2858ee4686c5", "symbol": "IMMU", "name": "Mendus 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": 90.41, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 65.383, "architecture_energy": 53.369, "architecture_maturity": 32.0, "architecture_confidence": 90.607, "architecture_tenure": "Developing", "architecture": { "interpretation": { "headline": "The weekly architecture is expanding upward.", "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing." }, "scores": { "balance": 6.4, "rotation_up": 61.96, "upward_expansion": 85.15, "deceleration": 49.24, "rotation_down": 18.0, "downward_expansion": 9.48 }, "activity_lines": [ 6.690667, 6.463273, 6.047476, 5.723505 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Improving", "price_acceptance": 0.833333 }, "latest_close": 6.85, "trend_reference": 5.443167, "distance_from_trend": 0.258459, "trend_direction": "Improving", "fair_value": 7.533987, "distance_from_fair_value": -0.090787, "fair_value_direction": "Improving", "relative_strength": 4.322962, "relative_strength_direction": "Improving", "price_momentum": 0.327519, "excess_performance": 0.266025, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.258459, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.041854, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.090787, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.276491, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.04323, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.283048, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.327519, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 2.93068, "read": "Demand-led" } ], "volume": { "latest": 69903, "relative_activity": 0.548774, "balance": 2.93068, "dry_up": 0.666233, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.119596, "annualized_volatility": 0.60465, "from_high_reference": -0.316367, "from_low_reference": 0.774611 }, "levels": { "trend_reference": 5.443167, "fair_value_reference": 7.533987, "structural_low": 3.86, "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": 5, "median_return": -0.029077, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.027044, "regime_survival": 0.6, "best_return": 0.135843, "worst_return": -0.336976, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 2, "median_return": -0.356425, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.386617, "regime_survival": 0.0, "best_return": -0.268015, "worst_return": -0.444834, "sufficient": false }, { "horizon": "Extended", "sample_count": 2, "median_return": -0.595517, "positive_rate": 0.0, "directional_follow_through": 0.0, "median_excess_return": -0.730297, "regime_survival": 0.0, "best_return": -0.390645, "worst_return": -0.80039, "sufficient": false }, { "horizon": "Full cycle", "sample_count": 1, 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"activity_lines": [ 6.322667, 5.992909, 5.590762, 5.408839 ] }, { "date": "2026-07-17", "close": 6.0, "volume": 101811, "typical_volume": 138769.1, "trend": 5.329167, "fair_value": 7.57059, "relative_strength": -7.327036, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 58.484199, "energy": 60.035292, "activity_lines": [ 6.287333, 6.028909, 5.663786, 5.453 ] }, { "date": "2026-07-24", "close": 6.51, "volume": 75415, "typical_volume": 129752.35, "trend": 5.3695, "fair_value": 7.547449, "relative_strength": 0.121671, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 63.107628, "energy": 54.859244, "activity_lines": [ 6.362, 6.142, 5.778952, 5.529183 ] }, { "date": "2026-07-31", "close": 6.94, "volume": 92331, "typical_volume": 128106.0, "trend": 5.4085, "fair_value": 7.535654, "relative_strength": 6.797482, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 70.143843, "energy": 59.273089, "activity_lines": [ 6.566, 6.322182, 5.924119, 5.630505 ] }, { "date": "2026-08-07", "close": 6.85, "volume": 69903, "typical_volume": 127380.35, "trend": 5.443167, "fair_value": 7.533987, "relative_strength": 4.322962, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 65.382647, "energy": 53.368953, "activity_lines": [ 6.690667, 6.463273, 6.047476, 5.723505 ] } ], "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." } } }