{
  "ticker": {
    "uuid": "f1d64147-6943-4f85-990c-895a3b01c4f6",
    "symbol": "HEBA-B",
    "name": "Heba Fastighets 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": 96.0,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -42.901,
    "architecture_energy": 32.164,
    "architecture_maturity": 100.0,
    "architecture_confidence": 63.112,
    "architecture_tenure": "Extended",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 32.75,
        "rotation_up": 25.05,
        "upward_expansion": 10.8,
        "deceleration": 65.14,
        "rotation_down": 37.9,
        "downward_expansion": 67.47
      },
      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.333333
    },
    "latest_close": 24.65,
    "trend_reference": 26.476598,
    "distance_from_trend": -0.068989,
    "trend_direction": "Weakening",
    "fair_value": 29.400253,
    "distance_from_fair_value": -0.161572,
    "fair_value_direction": "Weakening",
    "relative_strength": -22.69638,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.177305,
    "excess_performance": -0.238799,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.068989,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.066879,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.161572,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.012462,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.226964,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.0122,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.177305,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.776153,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 318246,
      "relative_activity": 0.727581,
      "balance": 0.776153,
      "dry_up": 0.887927,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.046965,
      "annualized_volatility": 0.221497,
      "from_high_reference": -0.239442,
      "from_low_reference": 0.053419
    },
    "levels": {
      "trend_reference": 26.476598,
      "fair_value_reference": 29.400253,
      "structural_low": 23.4,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 31,
        "median_return": -0.012574,
        "positive_rate": 0.354839,
        "directional_follow_through": 0.612903,
        "median_excess_return": -0.012063,
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        "worst_return": -0.193579,
        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "worst_return": -0.330149,
        "sufficient": true
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        "sufficient": true
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 468590.15,
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        "relative_strength": -22.800317,
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        "modifier": "Established contraction",
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        "direction": -63.570755,
        "energy": 43.313441,
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          24.958279,
          25.827682
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      },
      {
        "date": "2026-07-24",
        "close": 23.85,
        "volume": 326540,
        "typical_volume": 454735.7,
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        "fair_value": 29.422702,
        "relative_strength": -23.897015,
        "stage": 4,
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        "modifier": "Established contraction",
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        "direction": -64.48654,
        "energy": 42.67551,
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          24.21,
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          24.787877,
          25.620959
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      },
      {
        "date": "2026-07-31",
        "close": 24.5,
        "volume": 513924,
        "typical_volume": 450879.65,
        "trend": 26.684688,
        "fair_value": 29.417516,
        "relative_strength": -22.299922,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -45.468863,
        "energy": 34.250866,
        "activity_lines": [
          24.286666,
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          24.702659,
          25.468159
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      },
      {
        "date": "2026-08-07",
        "close": 24.65,
        "volume": 318246,
        "typical_volume": 437402.55,
        "trend": 26.476598,
        "fair_value": 29.400253,
        "relative_strength": -22.69638,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -42.900639,
        "energy": 32.163733,
        "activity_lines": [
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          24.646548,
          25.336889
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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."
    }
  }
}