{
  "ticker": {
    "uuid": "d3f2590e-3372-4d61-9d4d-d9607ed61d5d",
    "symbol": "FLMNG",
    "name": "Fleming Properties AB",
    "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": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 92.5,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -48.606,
    "architecture_energy": 31.081,
    "architecture_maturity": 34.932,
    "architecture_confidence": 96,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 35.59,
        "rotation_up": 19.54,
        "upward_expansion": 5.5,
        "deceleration": 44.83,
        "rotation_down": 49.59,
        "downward_expansion": 74.16
      },
      "activity_lines": [
        5.363333,
        5.391818,
        5.411297,
        5.466994
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 5.35,
    "trend_reference": 5.553509,
    "distance_from_trend": -0.036645,
    "trend_direction": "Weakening",
    "fair_value": 10.406406,
    "distance_from_fair_value": -0.485894,
    "fair_value_direction": "Improving",
    "relative_strength": -16.352015,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.072706,
    "excess_performance": -0.1342,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.036645,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.024544,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.485894,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.099424,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.16352,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.00544,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.072706,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.43207,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 47084,
      "relative_activity": 1.04398,
      "balance": 0.43207,
      "dry_up": 0.879236,
      "accumulation_observations": 0,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.04601,
      "annualized_volatility": 0.105456,
      "from_high_reference": -0.11831,
      "from_low_reference": 0.04902
    },
    "levels": {
      "trend_reference": 5.553509,
      "fair_value_reference": 10.406406,
      "structural_low": 5.1,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 41,
        "median_return": -0.02451,
        "positive_rate": 0.317073,
        "directional_follow_through": 0.634146,
        "median_excess_return": -0.033973,
        "regime_survival": 0.878049,
        "best_return": 0.189189,
        "worst_return": -0.465649,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 14,
        "median_return": -0.125834,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.714286,
        "median_excess_return": -0.09646,
        "regime_survival": 0.642857,
        "best_return": 0.153846,
        "worst_return": -0.614815,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 7,
        "median_return": -0.27451,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.571429,
        "median_excess_return": -0.312724,
        "regime_survival": 0.714286,
        "best_return": 0.225419,
        "worst_return": -0.824324,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.401796,
        "positive_rate": 0.25,
        "directional_follow_through": 0.75,
        "median_excess_return": -0.351789,
        "regime_survival": 0.75,
        "best_return": 0.100301,
        "worst_return": -0.831818,
        "sufficient": false
      }
    ],
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        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2022-03-11",
        "end": "2022-03-18",
        "tenure": "New",
        "return": 0.049505,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2022-03-25",
        "end": "2022-04-08",
        "tenure": "New",
        "return": 0.028302,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2022-05-20",
        "tenure": "Developing",
        "return": -0.036364,
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      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2022-06-24",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
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        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "active": false
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        "regime": "downward_expansion",
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "tenure": "New",
        "return": 0.0,
        "active": false
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        "return": 0.028846,
        "active": false
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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      {
        "regime": "balance",
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        "date": "2026-04-24",
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        "date": "2026-05-08",
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        "date": "2026-05-15",
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        "date": "2026-06-05",
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        "date": "2026-06-12",
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      {
        "date": "2026-06-26",
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        "gate": "down",
        "direction": -51.591217,
        "energy": 33.016226,
        "activity_lines": [
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      },
      {
        "date": "2026-07-03",
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        "trend": 5.630018,
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        "relative_strength": -15.151378,
        "stage": 4,
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        "modifier": "Established contraction",
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      },
      {
        "date": "2026-07-10",
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        "trend": 5.622702,
        "fair_value": 11.190253,
        "relative_strength": -11.97346,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -31.201435,
        "energy": 15.242829,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 40720,
        "typical_volume": 43938.6,
        "trend": 5.60707,
        "fair_value": 10.990709,
        "relative_strength": -12.950692,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -36.995223,
        "energy": 16.886092,
        "activity_lines": [
          5.456667,
          5.439091,
          5.453442,
          5.516305
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      },
      {
        "date": "2026-07-24",
        "close": 5.25,
        "volume": 54801,
        "typical_volume": 45860.55,
        "trend": 5.586439,
        "fair_value": 10.785401,
        "relative_strength": -16.215939,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -58.332715,
        "energy": 26.988164,
        "activity_lines": [
          5.393333,
          5.404545,
          5.429064,
          5.493268
        ]
      },
      {
        "date": "2026-07-31",
        "close": 5.4,
        "volume": 16011,
        "typical_volume": 45113.8,
        "trend": 5.570807,
        "fair_value": 10.594263,
        "relative_strength": -14.462786,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -43.966561,
        "energy": 23.864426,
        "activity_lines": [
          5.386667,
          5.401818,
          5.421682,
          5.481239
        ]
      },
      {
        "date": "2026-08-07",
        "close": 5.35,
        "volume": 47084,
        "typical_volume": 45100.5,
        "trend": 5.553509,
        "fair_value": 10.406406,
        "relative_strength": -16.352015,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -48.606029,
        "energy": 31.081058,
        "activity_lines": [
          5.363333,
          5.391818,
          5.411297,
          5.466994
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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."
    }
  }
}