{
  "ticker": {
    "uuid": "eb4303ca-0e8c-4948-820a-1d230a7ac63b",
    "symbol": "BULTEN",
    "name": "Bulten 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": 91.722,
    "architecture_energy": 92.531,
    "architecture_maturity": 26.0,
    "architecture_confidence": 76.322,
    "architecture_tenure": "New",
    "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": 14.8,
        "rotation_up": 85.54,
        "upward_expansion": 96.17,
        "deceleration": 41.83,
        "rotation_down": 8.14,
        "downward_expansion": 20.51
      },
      "activity_lines": [
        55.956667,
        52.099091,
        49.78881,
        48.267205
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.833333
    },
    "latest_close": 61.700001,
    "trend_reference": 46.998334,
    "distance_from_trend": 0.312813,
    "trend_direction": "Weakening",
    "fair_value": 61.134771,
    "distance_from_fair_value": 0.009246,
    "fair_value_direction": "Improving",
    "relative_strength": 11.124878,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.460355,
    "excess_performance": 0.398861,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.312813,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.003076,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.009246,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.269041,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.111249,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.286172,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.460355,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.829797,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 400994,
      "relative_activity": 1.969661,
      "balance": 2.829797,
      "dry_up": 1.443199,
      "accumulation_observations": 5,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.064643,
      "annualized_volatility": 0.42582,
      "from_high_reference": 0.0,
      "from_low_reference": 0.554156
    },
    "levels": {
      "trend_reference": 46.998334,
      "fair_value_reference": 61.134771,
      "structural_low": 39.700001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 8,
        "median_return": 0.004683,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.004818,
        "regime_survival": 0.75,
        "best_return": 0.169459,
        "worst_return": -0.087432,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
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        "median_return": -0.163288,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
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        "worst_return": -0.220425,
        "sufficient": false
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        "horizon": "Extended",
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        "modifier": "Established contraction",
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        "energy": 17.453864,
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      },
      {
        "date": "2026-04-24",
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        "typical_volume": 269995.8,
        "trend": 47.833334,
        "fair_value": 64.675808,
        "relative_strength": -20.226045,
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        "energy": 23.159729,
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      },
      {
        "date": "2026-05-01",
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        "typical_volume": 270043.45,
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        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "energy": 21.058202,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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      },
      {
        "date": "2026-05-15",
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        "typical_volume": 275326.05,
        "trend": 47.081667,
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        "relative_strength": -18.566524,
        "stage": 4,
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        "modifier": "Balance after decline",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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        "typical_volume": 280767.1,
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        "stage": 1,
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        "gate": "mixed",
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        "energy": 28.768101,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 284715.2,
        "trend": 47.143333,
        "fair_value": 63.208304,
        "relative_strength": -13.262288,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
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        "energy": 36.619999,
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      },
      {
        "date": "2026-06-05",
        "close": 46.150002,
        "volume": 19287,
        "typical_volume": 276691.4,
        "trend": 47.083334,
        "fair_value": 62.925882,
        "relative_strength": -18.208543,
        "stage": 1,
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        "modifier": "Emerging rotation",
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        "direction": 14.813172,
        "energy": 17.046459,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
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        "volume": 27466,
        "typical_volume": 265126.75,
        "trend": 46.986667,
        "fair_value": 62.660509,
        "relative_strength": -15.743328,
        "stage": 1,
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      },
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "trend": 46.623334,
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        "relative_strength": -21.466026,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
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        "energy": 30.210786,
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      },
      {
        "date": "2026-07-03",
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        "volume": 28511,
        "typical_volume": 200504.05,
        "trend": 46.425,
        "fair_value": 61.777334,
        "relative_strength": -19.944637,
        "stage": 4,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "down",
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        "energy": 25.092759,
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      },
      {
        "date": "2026-07-10",
        "close": 51.299999,
        "volume": 595606,
        "typical_volume": 215605.4,
        "trend": 46.431667,
        "fair_value": 61.625883,
        "relative_strength": -6.126562,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 23.54076,
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          46.763333,
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      },
      {
        "date": "2026-07-17",
        "close": 51.700001,
        "volume": 326933,
        "typical_volume": 217222.65,
        "trend": 46.5,
        "fair_value": 61.468685,
        "relative_strength": -3.814457,
        "stage": 1,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 38.788605,
        "energy": 42.290328,
        "activity_lines": [
          48.626667,
          47.64,
          47.048572,
          46.427635
        ]
      },
      {
        "date": "2026-07-24",
        "close": 49.650002,
        "volume": 152362,
        "typical_volume": 187626.35,
        "trend": 46.485,
        "fair_value": 61.306064,
        "relative_strength": -8.367186,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 54.813351,
        "energy": 59.70132,
        "activity_lines": [
          49.496667,
          48.050001,
          47.400477,
          46.630861
        ]
      },
      {
        "date": "2026-07-31",
        "close": 56.799999,
        "volume": 294967,
        "typical_volume": 193569.1,
        "trend": 46.651667,
        "fair_value": 61.196995,
        "relative_strength": 3.938822,
        "stage": 1,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 84.264411,
        "energy": 82.671123,
        "activity_lines": [
          52.356667,
          49.690909,
          48.401191,
          47.296344
        ]
      },
      {
        "date": "2026-08-07",
        "close": 61.700001,
        "volume": 400994,
        "typical_volume": 203585.25,
        "trend": 46.998334,
        "fair_value": 61.134771,
        "relative_strength": 11.124878,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Early expansion",
        "gate": "up",
        "direction": 91.722139,
        "energy": 92.530674,
        "activity_lines": [
          55.956667,
          52.099091,
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          48.267205
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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."
    }
  }
}