{
  "ticker": {
    "uuid": "da90b451-0631-49ca-92b8-6a50e70c1468",
    "symbol": "BERG-B",
    "name": "Bergman & Beving 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": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 87.711,
    "architecture_regime": "rotation_down",
    "architecture_regime_label": "Rotation Down",
    "architecture_modifier": "Supply rotation",
    "architecture_gate": "mixed",
    "architecture_direction": -17.381,
    "architecture_energy": 42.194,
    "architecture_maturity": 4.934,
    "architecture_confidence": 71.696,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating downward.",
        "body": "Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion."
      },
      "scores": {
        "balance": 40.72,
        "rotation_up": 18.41,
        "upward_expansion": 25.7,
        "deceleration": 47.63,
        "rotation_down": 58.07,
        "downward_expansion": 48.36
      },
      "activity_lines": [
        280.4,
        285.718182,
        291.67619,
        290.829032
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.333333
    },
    "latest_close": 286.5,
    "trend_reference": 289.883333,
    "distance_from_trend": -0.011671,
    "trend_direction": "Weakening",
    "fair_value": 267.86674,
    "distance_from_fair_value": 0.069562,
    "fair_value_direction": "Weakening",
    "relative_strength": -16.488714,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.020513,
    "excess_performance": -0.082007,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.011671,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.027781,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.069562,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.10078,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.164887,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.047142,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.020513,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.055117,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 120392,
      "relative_activity": 1.399827,
      "balance": 1.055117,
      "dry_up": 1.084188,
      "accumulation_observations": 3,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.061351,
      "annualized_volatility": 0.282997,
      "from_high_reference": -0.184922,
      "from_low_reference": 0.139165
    },
    "levels": {
      "trend_reference": 289.883333,
      "fair_value_reference": 267.86674,
      "structural_low": 251.5,
      "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": 3,
        "median_return": 0.064189,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": 0.019911,
        "regime_survival": 0.0,
        "best_return": 0.095153,
        "worst_return": -0.116279,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 3,
        "median_return": 0.04223,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.001737,
        "regime_survival": 0.0,
        "best_return": 0.086176,
        "worst_return": -0.057456,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": -0.085076,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.041669,
        "regime_survival": 0.0,
        "best_return": 0.097973,
        "worst_return": -0.268126,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.086732,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.057909,
        "regime_survival": 0.0,
        "best_return": 0.083947,
        "worst_return": -0.25741,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-15",
        "end": "2024-11-29",
        "tenure": "New",
        "return": -0.051786,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-12-06",
        "end": "2024-12-13",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-12-20",
        "end": "2025-02-14",
        "tenure": "Developing",
        "return": 0.069021,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-21",
        "end": "2025-03-07",
        "tenure": "New",
        "return": -0.035938,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-14",
        "end": "2025-04-04",
        "tenure": "New",
        "return": -0.028716,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-04-11",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.057451,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-02",
        "end": "2025-08-15",
        "tenure": "Established",
        "return": 0.089869,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-08-22",
        "end": "2025-10-03",
        "tenure": "Developing",
        "return": -0.070484,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-10",
        "end": "2025-12-26",
        "tenure": "Developing",
        "return": 0.007899,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-01-02",
        "end": "2026-01-23",
        "tenure": "New",
        "return": -0.050407,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-01-30",
        "end": "2026-04-24",
        "tenure": "Established",
        "return": 0.148014,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-05-01",
        "end": "2026-05-22",
        "tenure": "New",
        "return": -0.0256,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-05-29",
        "end": "2026-07-24",
        "tenure": "Developing",
        "return": -0.113821,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-07-31",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.04562,
        "active": true
      }
    ],
    "chart_path": [
      {
        "date": "2023-08-18",
        "close": 142.403214,
        "volume": 59303,
        "typical_volume": 223353.9,
        "trend": 136.406288,
        "fair_value": 114.685907,
        "relative_strength": 22.31894,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": 6.760229,
        "energy": 10.840635,
        "activity_lines": [
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      },
      {
        "date": "2023-08-25",
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      },
      {
        "date": "2023-09-01",
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      },
      {
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      },
      {
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      },
      {
        "date": "2023-09-22",
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 104599.15,
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        "fair_value": 255.313031,
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        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 109369.3,
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      },
      {
        "date": "2026-05-22",
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        "regime": "rotation_up",
        "modifier": "Value reclamation",
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      },
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        "date": "2026-05-29",
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "stage": 4,
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        "modifier": "Upper balance after advance",
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      },
      {
        "date": "2026-07-03",
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      },
      {
        "date": "2026-07-10",
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        "typical_volume": 88391.55,
        "trend": 294.716667,
        "fair_value": 264.495911,
        "relative_strength": -11.956223,
        "stage": 4,
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        "modifier": "Upper balance after advance",
        "gate": "mixed",
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      },
      {
        "date": "2026-07-17",
        "close": 281.5,
        "volume": 123109,
        "typical_volume": 89273.95,
        "trend": 293.45,
        "fair_value": 265.348505,
        "relative_strength": -15.338043,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -18.524055,
        "energy": 12.065281,
        "activity_lines": [
          292.133333,
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          293.611828
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      },
      {
        "date": "2026-07-24",
        "close": 272.5,
        "volume": 67381,
        "typical_volume": 88797.6,
        "trend": 291.9,
        "fair_value": 266.15317,
        "relative_strength": -18.942087,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -28.077709,
        "energy": 33.499225,
        "activity_lines": [
          285.133333,
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          294.019048,
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      },
      {
        "date": "2026-07-31",
        "close": 274.0,
        "volume": 62100,
        "typical_volume": 86768.75,
        "trend": 290.783333,
        "fair_value": 266.958908,
        "relative_strength": -19.108153,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -26.617863,
        "energy": 45.276871,
        "activity_lines": [
          280.066667,
          286.572727,
          292.22619,
          291.105376
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      },
      {
        "date": "2026-08-07",
        "close": 286.5,
        "volume": 120392,
        "typical_volume": 86004.9,
        "trend": 289.883333,
        "fair_value": 267.86674,
        "relative_strength": -16.488714,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -17.380677,
        "energy": 42.193811,
        "activity_lines": [
          280.4,
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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."
    }
  }
}