{
  "ticker": {
    "uuid": "ee867611-4bc8-47d6-b5e3-2ddf981adfc0",
    "symbol": "SKMO",
    "name": "Sk\u00e5ne-m\u00f6llan 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": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 56.834,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "up",
    "architecture_direction": 46.522,
    "architecture_energy": 31.57,
    "architecture_maturity": 35.056,
    "architecture_confidence": 74.327,
    "architecture_tenure": "Established",
    "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": 43.56,
        "rotation_up": 47.83,
        "upward_expansion": 76.64,
        "deceleration": 53.13,
        "rotation_down": 22.9,
        "downward_expansion": 12.64
      },
      "activity_lines": [
        53.533333,
        52.945455,
        52.760502,
        52.509297
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 54.5,
    "trend_reference": 52.494808,
    "distance_from_trend": 0.038198,
    "trend_direction": "Weakening",
    "fair_value": 56.637303,
    "distance_from_fair_value": -0.037737,
    "fair_value_direction": "Improving",
    "relative_strength": -12.890328,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.017035,
    "excess_performance": -0.04446,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.038198,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.028932,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.037737,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.07518,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.128903,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.068649,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.017035,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.177051,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 2394,
      "relative_activity": 1.407325,
      "balance": 1.177051,
      "dry_up": 0.782582,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.076641,
      "annualized_volatility": 0.323819,
      "from_high_reference": -0.174972,
      "from_low_reference": 0.274189
    },
    "levels": {
      "trend_reference": 52.494808,
      "fair_value_reference": 56.637303,
      "structural_low": 42.772295,
      "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": 17,
        "median_return": -0.009709,
        "positive_rate": 0.352941,
        "directional_follow_through": 0.352941,
        "median_excess_return": -0.035262,
        "regime_survival": 0.705882,
        "best_return": 0.188785,
        "worst_return": -0.195122,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 7,
        "median_return": 0.0,
        "positive_rate": 0.428571,
        "directional_follow_through": 0.428571,
        "median_excess_return": -0.031776,
        "regime_survival": 0.142857,
        "best_return": 0.608333,
        "worst_return": -0.268293,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 4,
        "median_return": 0.025954,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.014008,
        "regime_survival": 0.0,
        "best_return": 2.787779,
        "worst_return": -0.264802,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.093484,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.198901,
        "regime_survival": 0.5,
        "best_return": 0.596097,
        "worst_return": -0.30108,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2022-12-09",
        "end": "2023-03-03",
        "tenure": "Established",
        "return": 0.050505,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2023-03-10",
        "end": "2023-03-17",
        "tenure": "New",
        "return": -0.001905,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2023-06-02",
        "tenure": "Developing",
        "return": -0.079089,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-06-09",
        "end": "2023-12-22",
        "tenure": "Extended",
        "return": -0.151448,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-01-19",
        "tenure": "New",
        "return": -0.094851,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-01-26",
        "end": "2024-10-18",
        "tenure": "Extended",
        "return": -0.095189,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-10-25",
        "end": "2024-11-29",
        "tenure": "Developing",
        "return": -0.072897,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-12-06",
        "end": "2025-02-07",
        "tenure": "Developing",
        "return": 0.033058,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-02-14",
        "end": "2025-04-18",
        "tenure": "Developing",
        "return": 0.230769,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-04-25",
        "end": "2025-08-08",
        "tenure": "Established",
        "return": 0.097973,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-08-15",
        "end": "2025-10-03",
        "tenure": "Developing",
        "return": -0.056604,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-10-10",
        "end": "2025-10-24",
        "tenure": "New",
        "return": -0.019608,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-10-31",
        "end": "2026-04-17",
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        "return": -0.083904,
        "active": false
      },
      {
        "regime": "balance",
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        "color": "blue",
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        "return": 0.018692,
        "active": true
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    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "modifier": "Established contraction",
        "gate": "down",
        "direction": -28.939828,
        "energy": 14.547557,
        "activity_lines": [
          52.372515,
          51.569446,
          52.311737,
          53.524927
        ]
      },
      {
        "date": "2026-04-24",
        "close": 53.5,
        "volume": 2110,
        "typical_volume": 2136.85,
        "trend": 54.935298,
        "fair_value": 59.625257,
        "relative_strength": -20.050902,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -26.215238,
        "energy": 11.95528,
        "activity_lines": [
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          52.303436,
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 55.0,
        "volume": 1808,
        "typical_volume": 2166.45,
        "trend": 54.820007,
        "fair_value": 59.407838,
        "relative_strength": -16.176059,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -7.881308,
        "energy": 6.076718,
        "activity_lines": [
          53.456771,
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          53.419552
        ]
      },
      {
        "date": "2026-05-08",
        "close": 52.5,
        "volume": 6470,
        "typical_volume": 2464.6,
        "trend": 54.582411,
        "fair_value": 59.18274,
        "relative_strength": -19.755184,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -13.37952,
        "energy": 8.290896,
        "activity_lines": [
          53.259328,
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          52.382375,
          53.269874
        ]
      },
      {
        "date": "2026-05-15",
        "close": 51.0,
        "volume": 4336,
        "typical_volume": 2658.05,
        "trend": 54.320796,
        "fair_value": 58.917024,
        "relative_strength": -20.460155,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -30.147047,
        "energy": 12.884975,
        "activity_lines": [
          52.608379,
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        ]
      },
      {
        "date": "2026-05-22",
        "close": 53.5,
        "volume": 2294,
        "typical_volume": 2722.5,
        "trend": 54.155506,
        "fair_value": 58.706683,
        "relative_strength": -18.71033,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -12.306511,
        "energy": 5.898665,
        "activity_lines": [
          52.833333,
          52.828868,
          52.268563,
          52.985796
        ]
      },
      {
        "date": "2026-05-29",
        "close": 54.0,
        "volume": 1450,
        "typical_volume": 2771.35,
        "trend": 54.058845,
        "fair_value": 58.532936,
        "relative_strength": -17.022333,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -9.280505,
        "energy": 5.259201,
        "activity_lines": [
          53.133333,
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        ]
      },
      {
        "date": "2026-06-05",
        "close": 50.0,
        "volume": 1674,
        "typical_volume": 2814.6,
        "trend": 53.81586,
        "fair_value": 58.318046,
        "relative_strength": -21.955156,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -36.747342,
        "energy": 17.262639,
        "activity_lines": [
          52.066667,
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          52.166567,
          52.713902
        ]
      },
      {
        "date": "2026-06-12",
        "close": 53.0,
        "volume": 3,
        "typical_volume": 2753.35,
        "trend": 53.640398,
        "fair_value": 58.152198,
        "relative_strength": -16.515825,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -24.614131,
        "energy": 10.350681,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 51.5,
        "volume": 1090,
        "typical_volume": 2750.15,
        "trend": 53.460405,
        "fair_value": 57.988658,
        "relative_strength": -19.722091,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -31.559298,
        "energy": 14.504636,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
        "close": 54.0,
        "volume": 9,
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        "trend": 53.324772,
        "fair_value": 57.850684,
        "relative_strength": -14.331762,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -18.155889,
        "energy": 8.799145,
        "activity_lines": [
          52.6,
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          52.430093,
          52.557989
        ]
      },
      {
        "date": "2026-07-03",
        "close": 51.5,
        "volume": 120,
        "typical_volume": 2150.15,
        "trend": 53.131787,
        "fair_value": 57.654949,
        "relative_strength": -19.797276,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -40.286624,
        "energy": 14.502889,
        "activity_lines": [
          52.266667,
          52.381818,
          52.412627,
          52.440261
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      },
      {
        "date": "2026-07-10",
        "close": 52.0,
        "volume": 1135,
        "typical_volume": 2025.1,
        "trend": 52.948973,
        "fair_value": 57.454072,
        "relative_strength": -16.411948,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -32.141382,
        "energy": 12.432743,
        "activity_lines": [
          52.266667,
          52.272727,
          52.43416,
          52.367243
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      },
      {
        "date": "2026-07-17",
        "close": 51.0,
        "volume": 789,
        "typical_volume": 1838.4,
        "trend": 52.700349,
        "fair_value": 57.216974,
        "relative_strength": -16.302554,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -36.736082,
        "energy": 17.128865,
        "activity_lines": [
          51.8,
          52.036364,
          52.330433,
          52.241503
        ]
      },
      {
        "date": "2026-07-24",
        "close": 53.5,
        "volume": 1082,
        "typical_volume": 1803.35,
        "trend": 52.613004,
        "fair_value": 57.012595,
        "relative_strength": -13.009992,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -15.63955,
        "energy": 7.53345,
        "activity_lines": [
          52.3,
          52.281818,
          52.446035,
          52.293093
        ]
      },
      {
        "date": "2026-07-31",
        "close": 54.0,
        "volume": 1060,
        "typical_volume": 1717.7,
        "trend": 52.53583,
        "fair_value": 56.813807,
        "relative_strength": -12.65094,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 8.702229,
        "energy": 8.894706,
        "activity_lines": [
          52.833333,
          52.572727,
          52.58137,
          52.382577
        ]
      },
      {
        "date": "2026-08-07",
        "close": 54.5,
        "volume": 2394,
        "typical_volume": 1701.1,
        "trend": 52.494808,
        "fair_value": 56.637303,
        "relative_strength": -12.890328,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 46.52213,
        "energy": 31.569654,
        "activity_lines": [
          53.533333,
          52.945455,
          52.760502,
          52.509297
        ]
      }
    ],
    "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."
    }
  }
}