{ "ticker": { "uuid": "8ae58b44-8996-404a-8787-15a492de101c", "symbol": "NVOH", "name": "NOVO NORDISK A/S (B SHARES) ADRHEDGED", "exchange": "NYSEARCA", "country": "US", "assetType": "etf" }, "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": "SPY", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 96.0, "architecture_regime": "upward_expansion", "architecture_regime_label": "Upward Expansion", "architecture_modifier": "Early expansion", "architecture_gate": "up", "architecture_direction": 46.818, "architecture_energy": 35.793, "architecture_maturity": 28.604, "architecture_confidence": 45.878, "architecture_tenure": "New", "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": 40.89, "rotation_up": 43.48, "upward_expansion": 66.27, "deceleration": 62.99, "rotation_down": 23.59, "downward_expansion": 16.27 }, "activity_lines": [ 26.02224, 26.028606, 25.063716, 24.238168 ], "activity_state": "Moderate", "activity_direction": "Contracting", "rotation_direction": "Weakening", "price_acceptance": 0.5 }, "latest_close": 25.4103, "trend_reference": 24.16784, "distance_from_trend": 0.05141, "trend_direction": "Weakening", "fair_value": 30.149159, "distance_from_fair_value": -0.15718, "fair_value_direction": "Improving", "relative_strength": -11.236033, "relative_strength_direction": "Improving", "price_momentum": 0.043369, "excess_performance": -0.082255, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.05141, "read": "Above" }, { "label": "Trend direction", "positive": false, "value": -0.004347, "read": "Falling" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.15718, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.060566, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": false, "value": -0.11236, "read": "Lagging" }, { "label": "Relative strength direction", "positive": true, "value": 0.113707, "read": "Improving" }, { "label": "Price momentum", "positive": true, "value": 0.043369, "read": "Positive" }, { "label": "Volume balance", "positive": true, "value": 1.246893, "read": "Demand-led" } ], "volume": { "latest": 18821, "relative_activity": 1.501188, "balance": 1.246893, "dry_up": 0.870815, "accumulation_observations": 1, "distribution_observations": 1 }, "risk": { "range_context": 0.066644, "annualized_volatility": 0.433044, "from_high_reference": -0.226279, "from_low_reference": 0.381183 }, "levels": { "trend_reference": 24.16784, "fair_value_reference": 30.149159, "structural_low": 18.39749, 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"relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-07-03", "close": 27.3768, "volume": 4846, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-07-10", "close": 26.9125, "volume": 6443, "typical_volume": null, "trend": null, "fair_value": null, "relative_strength": null, "stage": null, "regime": null, "modifier": null, "gate": null, "direction": null, "energy": null, "activity_lines": [ null, null, null, null ] }, { "date": "2026-07-17", "close": 27.3523, "volume": 9525, "typical_volume": 15722.7, "trend": 24.395315, "fair_value": 30.311049, "relative_strength": -2.362785, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 46.589797, "energy": 75.067773, "activity_lines": [ 26.8223, 25.723953, 24.344716, 23.955965 ] }, { "date": "2026-07-24", "close": 26.679, "volume": 6474, "typical_volume": 14054.65, "trend": 24.389973, "fair_value": 30.266209, "relative_strength": -3.199276, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 38.108856, "energy": 71.240102, "activity_lines": [ 26.96446, 26.020861, 24.693768, 24.103299 ] }, { "date": "2026-07-31", "close": 25.407, "volume": 8851, "typical_volume": 12145.8, "trend": 24.336858, "fair_value": 30.20695, "relative_strength": -8.521406, "stage": 1, "regime": "rotation_up", "modifier": "Emerging rotation", "gate": "mixed", "direction": 34.826602, "energy": 51.070941, "activity_lines": [ 26.467313, 26.036432, 24.890786, 24.168914 ] }, { "date": "2026-08-07", "close": 25.4103, "volume": 18821, "typical_volume": 12537.4, "trend": 24.16784, "fair_value": 30.149159, "relative_strength": -11.236033, "stage": 1, "regime": "upward_expansion", "modifier": "Early expansion", "gate": "up", "direction": 46.818044, "energy": 35.793463, "activity_lines": [ 26.02224, 26.028606, 25.063716, 24.238168 ] } ], "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." } } }