{ "ticker": { "uuid": "5a9843a4-92f5-4a30-b74c-9480622444b4", "symbol": "DEMA", "name": "Demant A/S", "exchange": "VIE", "country": "AT", "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": "^ATX", "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": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Established expansion", "architecture_gate": "up", "architecture_direction": 72.653, "architecture_energy": 79.615, "architecture_maturity": 50.722, "architecture_confidence": 84.915, "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": 3.33, "rotation_up": 62.1, "upward_expansion": 93.37, "deceleration": 45.64, "rotation_down": 26.89, "downward_expansion": 17.71 }, "activity_lines": [ 37.265334, 36.684364, 34.69381, 32.651914 ], "activity_state": "Wide", "activity_direction": "Expanding", "rotation_direction": "Weakening", "price_acceptance": 0.833333 }, "latest_close": 37.580002, "trend_reference": 30.507333, "distance_from_trend": 0.231835, "trend_direction": "Improving", "fair_value": 35.606154, "distance_from_fair_value": 0.055436, "fair_value_direction": "Improving", "relative_strength": 0.299032, "relative_strength_direction": "Improving", "price_momentum": 0.496019, "excess_performance": 0.321772, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.231835, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.081028, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.055436, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.184249, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.00299, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.154424, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.496019, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.281431, "read": "Demand-led" } ], "volume": { "latest": 282, "relative_activity": 2.083487, "balance": 1.281431, "dry_up": 3.83635, "accumulation_observations": 3, "distribution_observations": 2 }, "risk": { "range_context": 0.040324, "annualized_volatility": 0.355133, "from_high_reference": -0.028438, "from_low_reference": 0.599149 }, "levels": { "trend_reference": 30.507333, "fair_value_reference": 35.606154, "structural_low": 23.5, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 13, "median_return": -0.00478, "positive_rate": 0.461538, "directional_follow_through": 0.461538, "median_excess_return": 0.011669, "regime_survival": 0.615385, "best_return": 0.207571, "worst_return": -0.102368, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 5, "median_return": 0.05162, "positive_rate": 0.8, "directional_follow_through": 0.8, "median_excess_return": 0.049893, "regime_survival": 0.4, "best_return": 0.203227, "worst_return": -0.054268, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": 0.071401, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.095064, "regime_survival": 0.5, "best_return": 0.21843, "worst_return": -0.221908, "sufficient": false }, { "horizon": "Full cycle", 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"red", "start": "2025-03-14", "end": "2025-06-06", "tenure": "Established", "return": 0.095981, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-06-13", "end": "2025-07-11", "tenure": "Developing", "return": -0.068038, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-07-18", "end": "2025-08-29", "tenure": "Developing", "return": -0.094454, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-09-05", "end": "2025-10-17", "tenure": "Developing", "return": -0.048532, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-10-24", "end": "2026-01-23", "tenure": "Established", "return": -0.021006, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2026-01-30", "end": "2026-01-30", "tenure": "New", "return": 0.0, "active": false }, { "regime": 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"close": 37.66, "volume": 0, "typical_volume": 23.9, "trend": 29.148666, "fair_value": 35.565385, "relative_strength": -1.58904, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 90.353308, "energy": 89.175652, "activity_lines": [ 35.417334, 34.237818, 31.618, 30.262624 ] }, { "date": "2026-07-10", "close": 36.439999, "volume": 282, "typical_volume": 38.0, "trend": 29.392, "fair_value": 35.572436, "relative_strength": -2.861743, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 73.571472, "energy": 80.659296, "activity_lines": [ 35.984, 34.864727, 32.281714, 30.733032 ] }, { "date": "2026-07-17", "close": 37.220001, "volume": 522, "typical_volume": 62.6, "trend": 29.689333, "fair_value": 35.579679, "relative_strength": 1.857064, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 76.24659, "energy": 88.638059, "activity_lines": [ 36.624, 35.463273, 32.962095, 31.238064 ] }, { "date": "2026-07-24", "close": 36.759998, "volume": 752, "typical_volume": 100.2, "trend": 29.96, "fair_value": 35.582628, "relative_strength": 0.017402, "stage": 2, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 66.618319, "energy": 83.724287, "activity_lines": [ 36.869333, 35.867636, 33.547047, 31.694236 ] }, { "date": "2026-07-31", "close": 37.48, "volume": 521, "typical_volume": 121.25, "trend": 30.256, "fair_value": 35.595833, "relative_strength": 2.479482, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.393092, "energy": 68.78949, "activity_lines": [ 37.109333, 36.306909, 34.144857, 32.179398 ] }, { "date": "2026-08-07", "close": 37.580002, "volume": 282, "typical_volume": 135.35, "trend": 30.507333, "fair_value": 35.606154, "relative_strength": 0.299032, "stage": 2, "regime": "upward_expansion", "modifier": "Established expansion", "gate": "up", "direction": 72.653496, "energy": 79.614827, "activity_lines": [ 37.265334, 36.684364, 34.69381, 32.651914 ] } ], "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." } } }