Week Ending: 28 August 2026

Norway NO Technology Industry

Software - Application

For the week ending 28 August 2026, Software - Application advanced 4.62% with 3 advancing, 1 declining, and 1 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

73 technical evidence
Index247.22 1 week4.62% Breadth60% Members5
Country 🇳🇴 Norway · NO
Sector Technology
Universe country-listed
Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture
Current architecture Upward Expansion 5 completed weeks in this state
Trend acceptance 7.8% Index versus Trend Line
Persistence 100% Positive across every horizon
Participation 60% 3 advancing, 1 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Wait for re-acceleration

Headline strength is not yet confirmed by the current Activity Line energy and constituent trend mix.

73 technical evidence
out of 100
Evidence balance

Five-pillar map

Wait
Trend
78
Breadth
54
Persistence
63
Relative
100
Risk quality
84
What supports the view
  • The index remains above a constructive Trend gate.
  • Constituent trends show positive multi-horizon persistence.
  • Relative performance is improving within its parent hierarchy.
What restrains conviction
  • Breadth remains too narrow or inconsistent for a high-conviction position.
  • Stage 4 declining constituents exceed Stage 2 advancing constituents by 25 percentage points.
  • Positive contribution is concentrated in a small leadership cohort.
Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view
  1. A completed weekly reclaim of 259.06, the higher of Trend Line and Fair Value, would improve the structural case.
  2. Breadth holding above 55% for several completed weeks would show that repair is spreading.
  3. Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Upward Expansion

The activity fan is positively ordered above a rising Trend Line with price accepted above it.

State age5 weeks
Trend gateUp
Fan width3.55%
Fast versus slow change0.84 pts
Above 67% Below 0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Positive across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point upward, giving the advance broad horizon agreement.

13-week
3.2%
26-week
15.4%
39-week
28.7%
52-week
23.3%
Regime age15 weeks 52-week flips5 52-week boundary200.49
Constituent trend persistence

Is the index move broadly durable?

100% coverage
Coherent positive40%
Coherent negative20%
Average horizon agreement90%
Positive horizon share60%
Weakening positives1
Repairing negatives1

5 constituents measured as of 28 Aug 2026. Median trend age is 15 weeks.

Custom stage map

Where constituents sit in the cycle

80% coverage
Stage 1 · Basing25%1 securities
Stage 2 · Advancing25%1 securities
Stage 3 · Distribution0%0 securities
Stage 4 · Declining50%2 securities
Re-acceleration watch0 Transition watch0 Relative strength leaders0% Fair Value repairs1

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

69/100 mean confidence
Upward expansion
0% 0
Rotation up
25% 1
Deceleration
25% 1
Balance
25% 1
Rotation down
0% 0
Downward expansion
25% 1
Unresolved
0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to Technology

Improving
Relative index 13-week relative trend Starting level
Rotation dashboard Improving

A rising relative line means this group is compounding faster than Technology. A falling line means capital has done better in the parent benchmark.

Relative index67.8
13-week trend64.2
4-week trend change3.72%
Weekly peer rank1 of 5
1 week
3.4 pts relative
4 weeks
1.1 pts relative
13 weeks
10.5 pts relative
26 weeks
20.8 pts relative
52 weeks
25.8 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Broad
Advancing
3
Declining
1
Unchanged
1
4-week average 45%
13-week average 48%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility26.9%
Drawdown from 52-week high0.0%
Positive weeks, last 1346%
Current directional run1 week
Turnover versus 13-week norm194%
Breadth impulse13.3 pts
Cross-section

Return distribution

5 measured
Q1 0.0% Median 0.3% Q3 5.2%
Average winner8.2%
Average loser-1.5%
Dispersion7.6 pts
Top-five upside share100%
Top-five capital share100%
Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence
Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 5 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 SWONSOFTWAREONE HOLDING
19.04% 2 IDEXIDEX Biometrics ASA
5.22% 3 HUDLHuddlestock Fintech AS
0.35% 4 AIXAyfie International AS
0.00% 5 PEXIPPexip Holding ASA
-1.52%

Weakest edge

5 PEXIPPexip Holding ASA
-1.52% 4 AIXAyfie International AS
0.00% 3 HUDLHuddlestock Fintech AS
0.35% 2 IDEXIDEX Biometrics ASA
5.22% 1 SWONSOFTWAREONE HOLDING
19.04%

Constituent ledger

Industry constituents

All 5 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 SWON SOFTWAREONE HOLDING OSL 24.36B 113.80 3.81 pts
19.04%
2 IDEX IDEX Biometrics ASA OSL 603.01M 8.06 1.04 pts
5.22%
3 HUDL Huddlestock Fintech AS OSL 159.28M 0.576 0.07 pts
0.35%
4 AIX Ayfie International AS OSL 87.54M 3.50 0.00 pts
0.00%
5 PEXIP Pexip Holding ASA OSL 8.08B 77.80 -0.30 pts
-1.52%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.

Evidence context