{ "ticker": { "uuid": "de60177c-4106-45da-99f5-ff622386f9d2", "symbol": "NYKD", "name": "Nykode Therapeutics AS", "exchange": "OSL", "country": "NO", "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": "OSEBX.OL", "stage": 1, "stage_name": "Basing", "phase": "1b", "phase_label": "Stage 1B \u00b7 Basing", "transition": "stage_1_building", "transition_label": "Base still building", "confidence": 74.942, "architecture_regime": "balance", "architecture_regime_label": "Balance", "architecture_modifier": "Upper balance after advance", "architecture_gate": "up", "architecture_direction": 31.58, "architecture_energy": 19.518, "architecture_maturity": 20.391, "architecture_confidence": 68.618, "architecture_tenure": "Developing", "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": 50.43, "rotation_up": 51.82, "upward_expansion": 60.2, "deceleration": 51.19, "rotation_down": 16.94, "downward_expansion": 20.2 }, "activity_lines": [ 3.225333, 3.161727, 3.165433, 3.168105 ], "activity_state": "Compressed", "activity_direction": "Contracting", "rotation_direction": "Improving", "price_acceptance": 0.0 }, "latest_close": 3.33, "trend_reference": 3.152567, "distance_from_trend": 0.056282, "trend_direction": "Improving", "fair_value": 5.540986, "distance_from_fair_value": -0.399024, "fair_value_direction": "Improving", "relative_strength": 11.899664, "relative_strength_direction": "Weakening", "price_momentum": 0.10119, "excess_performance": -0.023803, "evidence": [ { "label": "Price vs Trend", "positive": true, "value": 0.056282, "read": "Above" }, { "label": "Trend direction", "positive": true, "value": 0.096431, "read": "Rising" }, { "label": "Price vs current Fair Value", "positive": false, "value": -0.399024, "read": "Below anchor" }, { "label": "Fair Value direction", "positive": true, "value": 0.129904, "read": "Closing upward" }, { "label": "Relative Strength vs benchmark", "positive": true, "value": 0.118997, "read": "Leading" }, { "label": "Relative strength direction", "positive": false, "value": -0.085541, "read": "Weakening" }, { "label": "Price momentum", "positive": true, "value": 0.10119, "read": "Positive" }, { "label": "Volume balance", "positive": false, "value": 0.864974, "read": "Supply-led" } ], "volume": { "latest": 2933298, "relative_activity": 1.038419, "balance": 0.864974, "dry_up": 1.253096, "accumulation_observations": 2, "distribution_observations": 2 }, "risk": { "range_context": 0.087087, "annualized_volatility": 0.610301, "from_high_reference": -0.187805, "from_low_reference": 1.3125 }, "levels": { "trend_reference": 3.152567, "fair_value_reference": 5.540986, "structural_low": 2.665, "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis." }, "outcomes": [ { "horizon": "Near term", "sample_count": 13, "median_return": -0.005476, "positive_rate": 0.461538, "directional_follow_through": 0.461538, "median_excess_return": -0.024072, "regime_survival": 0.461538, "best_return": 0.154962, "worst_return": -0.314677, "sufficient": true }, { "horizon": "Intermediate", "sample_count": 7, "median_return": -0.111715, "positive_rate": 0.285714, "directional_follow_through": 0.285714, "median_excess_return": -0.155344, "regime_survival": 0.142857, "best_return": 0.397403, "worst_return": -0.621118, "sufficient": true }, { "horizon": "Extended", "sample_count": 4, "median_return": -0.080512, "positive_rate": 0.5, "directional_follow_through": 0.5, "median_excess_return": -0.091822, "regime_survival": 0.25, "best_return": 0.242691, "worst_return": -0.80069, "sufficient": false }, { 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2.77, "volume": 1610783, "typical_volume": 3188764.0, "trend": 3.053167, "fair_value": 5.844305, "relative_strength": -1.550872, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -38.407426, "energy": 45.672653, "activity_lines": [ 2.948333, 3.052364, 3.116171, 3.122447 ] }, { "date": "2026-07-24", "close": 3.19, "volume": 4044587, "typical_volume": 3035986.75, "trend": 3.0815, "fair_value": 5.744319, "relative_strength": 9.921325, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "mixed", "direction": -15.219856, "energy": 31.806635, "activity_lines": [ 3.000333, 3.067364, 3.121033, 3.131275 ] }, { "date": "2026-07-31", "close": 3.44, "volume": 5570178, "typical_volume": 3035598.55, "trend": 3.117633, "fair_value": 5.64401, "relative_strength": 16.952313, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 35.589984, "energy": 16.532806, "activity_lines": [ 3.137667, 3.126, 3.14959, 3.154404 ] }, { "date": "2026-08-07", "close": 3.33, "volume": 2933298, "typical_volume": 2824772.25, "trend": 3.152567, "fair_value": 5.540986, "relative_strength": 11.899664, "stage": 1, "regime": "balance", "modifier": "Upper balance after advance", "gate": "up", "direction": 31.580184, "energy": 19.517544, "activity_lines": [ 3.225333, 3.161727, 3.165433, 3.168105 ] } ], "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." } } }