{
  "ticker": {
    "uuid": "d8db326a-4b4a-4c0d-a0e6-627e36f17513",
    "symbol": "ATIN",
    "name": "Athanase Innovation 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": "2c",
    "phase_label": "Stage 2C \u00b7 Late 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": "Early expansion",
    "architecture_gate": "up",
    "architecture_direction": 70.72,
    "architecture_energy": 89.746,
    "architecture_maturity": 34.0,
    "architecture_confidence": 81.566,
    "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": 0.0,
        "rotation_up": 84.72,
        "upward_expansion": 100.0,
        "deceleration": 39.0,
        "rotation_down": 8.25,
        "downward_expansion": 22.0
      },
      "activity_lines": [
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        17.30258
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 1.0
    },
    "latest_close": 20.6,
    "trend_reference": 15.933333,
    "distance_from_trend": 0.292887,
    "trend_direction": "Improving",
    "fair_value": 17.930128,
    "distance_from_fair_value": 0.148904,
    "fair_value_direction": "Improving",
    "relative_strength": 7.095678,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.716667,
    "excess_performance": 0.655172,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.292887,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.049857,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.148904,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.247218,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.070957,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.209155,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.716667,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 4.009498,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 4.009498,
      "dry_up": 0.084928,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.022405,
      "annualized_volatility": 0.454681,
      "from_high_reference": -0.055046,
      "from_low_reference": 1.06
    },
    "levels": {
      "trend_reference": 15.933333,
      "fair_value_reference": 17.930128,
      "structural_low": 10.0,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": -0.029126,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.285714,
        "median_excess_return": -0.023152,
        "regime_survival": 0.714286,
        "best_return": 0.259259,
        "worst_return": -0.134454,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.036458,
        "sufficient": false
      },
      {
        "horizon": "Extended",
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        "worst_return": -0.009709,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
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        "worst_return": 0.0625,
        "sufficient": false
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        "regime": "balance",
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        "regime": "downward_expansion",
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        "trend": 15.51,
        "fair_value": 17.966346,
        "relative_strength": -13.819861,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": 13.442845,
        "energy": 16.234026,
        "activity_lines": [
          15.0,
          14.743637,
          14.332381,
          14.696559
        ]
      },
      {
        "date": "2026-05-15",
        "close": 16.0,
        "volume": 689,
        "typical_volume": 412.05,
        "trend": 15.376667,
        "fair_value": 17.950961,
        "relative_strength": -13.109915,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 31.435696,
        "energy": 45.488616,
        "activity_lines": [
          15.413334,
          15.005455,
          14.481905,
          14.728172
        ]
      },
      {
        "date": "2026-05-22",
        "close": 17.0,
        "volume": 959,
        "typical_volume": 460.0,
        "trend": 15.276667,
        "fair_value": 17.938141,
        "relative_strength": -10.09297,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 42.708784,
        "energy": 62.596746,
        "activity_lines": [
          16.053334,
          15.392727,
          14.736191,
          14.832903
        ]
      },
      {
        "date": "2026-05-29",
        "close": 17.0,
        "volume": 390,
        "typical_volume": 448.55,
        "trend": 15.176667,
        "fair_value": 17.900962,
        "relative_strength": -9.060781,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 48.872251,
        "energy": 72.931486,
        "activity_lines": [
          16.52,
          15.76,
          14.995238,
          14.944086
        ]
      },
      {
        "date": "2026-06-05",
        "close": 17.0,
        "volume": 0,
        "typical_volume": 435.8,
        "trend": 15.183333,
        "fair_value": 17.885577,
        "relative_strength": -7.891863,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 43.751292,
        "energy": 72.449085,
        "activity_lines": [
          16.813333,
          16.076364,
          15.244762,
          15.06172
        ]
      },
      {
        "date": "2026-06-12",
        "close": 16.9,
        "volume": 0,
        "typical_volume": 428.3,
        "trend": 15.186667,
        "fair_value": 17.869551,
        "relative_strength": -7.808899,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "mixed",
        "direction": 41.446754,
        "energy": 79.143464,
        "activity_lines": [
          16.9,
          16.327273,
          15.47,
          15.172473
        ]
      },
      {
        "date": "2026-06-19",
        "close": 17.799999,
        "volume": 1934,
        "typical_volume": 359.4,
        "trend": 15.28,
        "fair_value": 17.865705,
        "relative_strength": -4.338494,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 91.54303,
        "energy": 96.826633,
        "activity_lines": [
          17.24,
          16.696364,
          15.764286,
          15.341075
        ]
      },
      {
        "date": "2026-06-26",
        "close": 17.799999,
        "volume": 0,
        "typical_volume": 358.4,
        "trend": 15.273333,
        "fair_value": 17.864423,
        "relative_strength": -3.189837,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 87.4278,
        "energy": 95.492289,
        "activity_lines": [
          17.459999,
          17.003636,
          16.030952,
          15.503656
        ]
      },
      {
        "date": "2026-07-03",
        "close": 18.299999,
        "volume": 7,
        "typical_volume": 358.7,
        "trend": 15.283333,
        "fair_value": 17.865705,
        "relative_strength": -3.063573,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 91.417912,
        "energy": 96.851326,
        "activity_lines": [
          17.793333,
          17.34,
          16.317619,
          15.698925
        ]
      },
      {
        "date": "2026-07-10",
        "close": 20.0,
        "volume": 8,
        "typical_volume": 359.1,
        "trend": 15.48,
        "fair_value": 17.877244,
        "relative_strength": 8.388487,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 97.716774,
        "energy": 99.035682,
        "activity_lines": [
          18.606666,
          17.914545,
          16.745238,
          16.003226
        ]
      },
      {
        "date": "2026-07-17",
        "close": 20.799999,
        "volume": 47,
        "typical_volume": 348.95,
        "trend": 15.573333,
        "fair_value": 17.894231,
        "relative_strength": 13.779498,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 96.969647,
        "energy": 98.386208,
        "activity_lines": [
          19.486666,
          18.532727,
          17.22,
          16.346451
        ]
      },
      {
        "date": "2026-07-24",
        "close": 20.6,
        "volume": 48,
        "typical_volume": 351.35,
        "trend": 15.66,
        "fair_value": 17.907692,
        "relative_strength": 10.734491,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 89.358864,
        "energy": 91.626645,
        "activity_lines": [
          20.04,
          19.030909,
          17.638095,
          16.670752
        ]
      },
      {
        "date": "2026-07-31",
        "close": 20.6,
        "volume": 0,
        "typical_volume": 282.45,
        "trend": 15.746667,
        "fair_value": 17.916026,
        "relative_strength": 9.196298,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 77.763039,
        "energy": 90.284553,
        "activity_lines": [
          20.406666,
          19.445454,
          18.019524,
          16.989462
        ]
      },
      {
        "date": "2026-08-07",
        "close": 20.6,
        "volume": 0,
        "typical_volume": 279.65,
        "trend": 15.933333,
        "fair_value": 17.930128,
        "relative_strength": 7.095678,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 70.719626,
        "energy": 89.745937,
        "activity_lines": [
          20.586667,
          19.794545,
          18.378571,
          17.30258
        ]
      }
    ],
    "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."
    }
  }
}