{ "ticker": { "uuid": "95ba507a-0b58-4a73-a681-8f915a5bec0d", "symbol": "KLAR", "name": "Klaria Pharma Holding 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": 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": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Balance after decline", "architecture_gate": "down", "architecture_direction": -1.247, "architecture_energy": 11.999, "architecture_maturity": 18.633, "architecture_confidence": 52.46, "architecture_tenure": "New", "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": 63.02, "rotation_up": 38.99, "upward_expansion": 21.54, "deceleration": 37.09, "rotation_down": 16.07, "downward_expansion": 53.2 }, "activity_lines": [ 0.863133, 0.830236, 0.838214, 0.85312 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.166667 }, "latest_close": 0.957, "trend_reference": 0.877833, "distance_from_trend": 0.090184, "trend_direction": "Improving", "fair_value": 0.6382, "distance_from_fair_value": 0.49953, "fair_value_direction": "Improving", "relative_strength": 15.856906, "relative_strength_direction": "Improving", "price_momentum": -0.031377, "excess_performance": -0.092871, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.090184, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.084548, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": true, "value": 0.49953, "read": "Premium" }, { "label": "Fair Value direction", "positive": true, "value": 0.13328, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.158569, "read": "Leading" }, { "label": "Relative strength direction", "positive": true, "value": 0.007199, "read": "Improving" }, { "label": "Price momentum", "positive": false, "value": -0.031377, "read": "Negative" }, { "label": "Volume balance", "positive": true, "value": 1.69943, "read": "Demand-led" } ], "volume": { "latest": 4667329, "relative_activity": 1.407312, "balance": 1.69943, "dry_up": 0.924898, "accumulation_observations": 3, "distribution_observations": 1 }, "risk": { "range_context": 0.100313, "annualized_volatility": 0.705788, "from_high_reference": -0.280451, "from_low_reference": 1.2 }, "levels": { "trend_reference": 0.877833, "fair_value_reference": 0.6382, "structural_low": 0.65, "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 15, "median_return": 0.003778, "positive_rate": 0.533333, "directional_follow_through": 0.533333, "median_excess_return": -0.004353, "regime_survival": 0.6, "best_return": 0.616352, "worst_return": -0.338951, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 6, "median_return": -0.022538, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.083621, "regime_survival": 0.333333, "best_return": 0.834586, "worst_return": -0.383895, "sufficient": true }, { "horizon": "Extended", "sample_count": 5, "median_return": -0.12459, "positive_rate": 0.4, "directional_follow_through": 0.4, "median_excess_return": -0.176182, "regime_survival": 0.6, "best_return": 2.041543, "worst_return": -0.368914, "sufficient": true }, { "horizon": "Full cycle", "sample_count": 3, "median_return": -0.447541, "positive_rate": 0.333333, "directional_follow_through": 0.333333, "median_excess_return": -0.337003, "regime_survival": 0.333333, "best_return": 0.655786, "worst_return": -0.487245, "sufficient": false } ], "ledger": [ { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2024-12-13", "end": "2025-01-03", "tenure": "New", "return": 0.104651, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-01-10", "end": "2025-01-10", "tenure": "New", "return": 0.0, "active": false }, { "regime": "rotation_up", "label": "Rotation Up", "color": "teal", "start": "2025-01-17", "end": "2025-01-31", "tenure": "New", "return": 0.394102, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-02-07", "end": "2025-03-21", "tenure": "Developing", "return": 0.061983, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2025-03-28", "end": "2025-05-30", "tenure": "Developing", "return": -0.666667, "active": false }, { "regime": "rotation_down", "label": "Rotation Down", "color": "orange", "start": "2025-06-06", "end": "2025-07-04", "tenure": "Developing", "return": -0.071749, "active": false }, { "regime": "downward_expansion", "label": "Downward Expansion", "color": "red", "start": "2025-07-11", "end": "2025-11-28", "tenure": "Established", "return": 0.040816, "active": false }, { "regime": "balance", "label": "Balance", "color": "blue", "start": "2025-12-05", "end": "2025-12-19", "tenure": "New", "return": 0.185185, "active": false }, { "regime": "upward_expansion", "label": "Upward Expansion", "color": "green", "start": "2025-12-26", "end": "2026-02-27", "tenure": "Developing", "return": 0.340984, "active": false }, { "regime": "deceleration", "label": "Deceleration", "color": "amber", "start": "2026-03-06", "end": "2026-04-10", "tenure": 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}, { "date": "2026-07-24", "close": 0.788, "volume": 1313938, "typical_volume": 3090571.05, "trend": 0.8746, "fair_value": 0.634155, "relative_strength": -0.057331, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -51.698847, "energy": 36.972135, "activity_lines": [ 0.786533, 0.788145, 0.82931, 0.84909 ] }, { "date": "2026-07-31", "close": 0.86, "volume": 3119625, "typical_volume": 3142453.4, "trend": 0.879933, "fair_value": 0.635655, "relative_strength": 6.889395, "stage": 4, "regime": "downward_expansion", "modifier": "Early contraction", "gate": "down", "direction": -32.194932, "energy": 17.840218, "activity_lines": [ 0.811333, 0.801055, 0.829262, 0.848148 ] }, { "date": "2026-08-07", "close": 0.957, "volume": 4667329, "typical_volume": 3316483.85, "trend": 0.877833, "fair_value": 0.6382, "relative_strength": 15.856906, "stage": 2, "regime": "balance", "modifier": "Balance after decline", "gate": "down", "direction": -1.247243, "energy": 11.998566, "activity_lines": [ 0.863133, 0.830236, 0.838214, 0.85312 ] } ], "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." } } }