Week Ending: 4 September 2026

Sweden SE Sector

Technology

For the week ending 04 September 2026, Technology declined 1.24% with 56 advancing, 81 declining, and 2 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

41 technical evidence
Index663.46 1 week-1.24% Breadth40% Members141
Country 🇸🇪 Sweden · SE
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 Unresolved 1 completed week in this state
Trend acceptance -2.0% Index versus Trend Line
Persistence 75% Negative regime, horizons divided
Participation 40% 56 advancing, 81 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 Reduce exposure into strength

Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.

41 technical evidence
out of 100
Evidence balance

Five-pillar map

Reduce
Trend
45
Breadth
35
Persistence
34
Relative
28
Risk quality
83
What supports the view
  • No major confirming factor has secured control.
What restrains conviction
  • Index trend architecture has not delivered a durable upward expansion.
  • Breadth remains too narrow or inconsistent for a high-conviction position.
  • Constituent persistence remains divided or predominantly negative.
  • The group is not yet delivering dependable relative outperformance.
  • Stage 4 declining constituents exceed Stage 2 advancing constituents by 29 percentage points.
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 767.57, 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 Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

State age1 weeks
Trend gateMixed
Fan width2.40%
Fast versus slow change-1.03 pts
Above 0% Below 67%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative regime, horizons divided

75% agreement

The 52-week trend is negative, while shorter horizons remain mixed.

13-week
-10.5%
26-week
4.1%
39-week
-3.1%
52-week
-12.9%
Regime age95 weeks 52-week flips0 52-week boundary761.79
Constituent trend persistence

Is the index move broadly durable?

97% coverage
Coherent positive8%
Coherent negative28%
Average horizon agreement75%
Positive horizon share39%
Weakening positives26
Repairing negatives27

135 constituents measured as of 4 Sep 2026. Median trend age is 27 weeks.

Custom stage map

Where constituents sit in the cycle

96% coverage
Stage 1 · Basing22%29 securities
Stage 2 · Advancing20%27 securities
Stage 3 · Distribution10%13 securities
Stage 4 · Declining49%65 securities
Re-acceleration watch2 Transition watch16 Relative strength leaders10% Fair Value repairs18

Measured as of 4 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

74/100 mean confidence
Upward expansion
18% 24
Rotation up
7% 9
Deceleration
17% 23
Balance
12% 16
Rotation down
8% 11
Downward expansion
38% 51
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 SE Market Structure

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

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

Relative index85.4
13-week trend88.2
4-week trend change-1.93%
Weekly peer rank9 of 11
1 week
-0.6 pts relative
4 weeks
-2.7 pts relative
13 weeks
-8.4 pts relative
26 weeks
1.6 pts relative
52 weeks
-4.0 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Narrow
Advancing
56
Declining
81
Unchanged
2
4-week average 42%
13-week average 42%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility12.8%
Drawdown from 52-week high-12.5%
Positive weeks, last 1338%
Current directional run3 weeks
Turnover versus 13-week norm160%
Breadth impulse-1.8 pts
Cross-section

Return distribution

139 measured
Q1 -4.9% Median -1.6% Q3 1.8%
Average winner5.8%
Average loser-6.6%
Dispersion10.8 pts
Top-five upside share41%
Top-five capital share89%
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.

Industry map

Where sector leadership is forming

Performance, breadth and trend acceptance across every qualified industry.

2/9 positive
Above Trend Line3/933% of industries
Constructive breadth2/9At least half advancing
Median industry-1.69%2.92 pts dispersion
#1 Repairing

Communication Equipment

2.02%
Participation63% vs Trend-0.6% vs Fair Value12.3% Members16
#2 Narrowing

Electronic Components

0.87%
Participation38% vs Trend5.3% vs Fair Value41.1% Members8
#3 Weakening

Information Technology Services

-0.50%
Participation50% vs Trend-4.6% vs Fair Value-26.4% Members24
#4 Contracting

Scientific & Technical Instruments

-0.58%
Participation38% vs Trend-6.2% vs Fair Value-34.1% Members8
#5 Narrowing

Software - Application

-1.69%
Participation39% vs Trend1.1% vs Fair Value-17.4% Members51
#6 Contracting

Software - Infrastructure

-2.35%
Participation31% vs Trend-5.6% vs Fair Value-0.2% Members13
#7 Contracting

Solar

-3.87%
Participation33% vs Trend-15.8% vs Fair Value-55.9% Members6
#8 Contracting

Computer Hardware

-4.59%
Participation20% vs Trend-18.0% vs Fair Value-40.9% Members5
#9 Narrowing

Consumer Electronics

-8.15%
Participation0% vs Trend1.4% vs Fair Value-46.7% Members3

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 139 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 NEO-BNeovici Holding AB ser. B
35.93% 2 INCOAXInCoax Networks AB (publ)
34.18% 3 LIGRLightning Group AB
22.99% 4 ANOTAnoto Group AB (publ)
20.00% 5 BPCINSBPC Instruments AB
18.09%

Weakest edge

139 SPOTRSpotr Group AB
-83.49% 138 TENEOTeneo AI AB (publ)
-26.53% 137 MODELModelon AB
-20.00% 136 SOLTSolTech Energy Sweden AB (publ)
-18.27% 135 OODAoodash Group AB (publ)
-17.78%

Constituent ledger

Sector constituents

Top 100 of 139 shown, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 NEO-B Neovici Holding AB ser. B STO 147.54M 4.01 0.18 pts
35.93%
2 INCOAX InCoax Networks AB (publ) STO 82.39M 0.738 0.18 pts
34.18%
3 LIGR Lightning Group AB STO 43.13M 1.07 0.17 pts
22.99%
4 ANOT Anoto Group AB (publ) STO 176.38M 0.192 0.14 pts
20.00%
5 BPCINS BPC Instruments AB STO 162.68M 17.30 0.13 pts
18.09%
6 QBIM QBIM AB STO 15.10M 0.258 0.09 pts
13.16%
7 MAVEN Maven Wireless Sweden AB (Publ) STO 266.47M 5.28 0.09 pts
12.10%
8 EXALT Exalt AB STO 12.65M 0.262 0.09 pts
11.97%
9 MIDS Midsummer AB (publ) STO 736.17M 1.53 0.07 pts
10.36%
10 XMR XMReality AB (publ) STO 29.29M 0.0264 0.07 pts
10.00%
11 HOODIN Hoodin AB STO 13.44M 0.153 0.06 pts
8.90%
12 CHARGE ChargePanel AB (publ) STO 87.58M 2.26 0.06 pts
8.65%
13 COMPDM Compodium International AB (publ) STO 41.64M 5.20 0.05 pts
7.44%
14 QCORE Qlucore AB (publ) STO 20.55M 0.439 0.05 pts
6.30%
15 VAXXA Vaxxa AB STO 18.99M 0.426 0.04 pts
6.23%
16 LOYAL Loyal Solutions A/S STO 70.11M 7.84 0.04 pts
6.23%
17 REALFI Realfiction Holding AB (publ) STO 13.14M 0.53 0.04 pts
6.00%
18 ANOD-B Addnode Group AB (publ) STO 6.17B 48.25 0.04 pts
5.93%
19 SFTR Safeture AB (publ) STO 159.51M 4.30 0.04 pts
5.91%
20 B3 B3 Consulting Group AB (publ) STO 202.84M 22.60 0.04 pts
5.61%
21 EXS Exsitec Holding AB (publ) STO 1.58B 123.50 0.04 pts
5.11%
22 WAYS Waystream Holding AB (publ) STO 333.23M 39.40 0.04 pts
5.07%
23 GPX Gasporox AB (publ) STO 56.12M 6.25 0.03 pts
4.17%
24 SOLIDX SolidX AB (publ) STO 72.62M 2.10 0.03 pts
3.96%
25 UPSALE Upsales Technology AB (publ) STO 505.15M 30.40 0.03 pts
3.75%
26 SUBGEN Subgen AI AB STO 49.51M 0.0374 0.02 pts
3.31%
27 SMCRT SmartCraft Group AB (publ) STO 2.41B 15.40 0.02 pts
3.22%
28 QSYS Qualisys Holding Aktiebolag STO 490.50M 50.40 0.02 pts
2.86%
29 CX CombinedX AB (publ) STO 749.93M 39.60 0.02 pts
2.86%
30 PACT Proact IT Group AB (publ) STO 3.43B 139.00 0.02 pts
2.36%
31 SAFETY-B mySafety Group AB STO 407.79M 18.00 0.02 pts
2.27%
32 YUBICO Yubico AB STO 7.78B 92.75 0.02 pts
2.09%
33 HANZA Hanza AB (publ) STO 9.16B 149.00 0.01 pts
2.05%
34 NCAB NCAB Group AB (publ) STO 14.86B 81.10 0.01 pts
2.01%
35 DIVIO-B Divio Technologies AB (publ) STO 31.25M 0.053 0.01 pts
1.92%
36 MSAB-B Micro Systemation AB (publ) STO 1.72B 95.00 0.01 pts
1.71%
37 VER Verve Group SE STO 2.38B 11.88 0.01 pts
1.71%
38 ALCA Alcadon Group AB (publ) STO 730.43M 30.30 0.01 pts
1.68%
39 SMOL Smoltek Nanotech Holding AB STO 288.31M 1.25 0.01 pts
1.63%
40 NTEK-B Novotek AB STO 667.80M 64.00 0.01 pts
1.59%
41 EPEN Ependion AB STO 4.92B 155.60 0.01 pts
1.43%
42 TIETOS Tieto Oyj STO 24.33B 216.60 0.01 pts
1.21%
43 MOBA M.O.B.A. Network AB STO 20.23M 0.902 0.01 pts
1.12%
44 IVSO Invisio AB (publ) STO 10.80B 236.20 0.01 pts
1.03%
45 GENI Generic Sweden AB STO 484.31M 39.70 0.01 pts
0.76%
46 KENH Kentima Holding AB (publ) STO 83.99M 2.90 0.00 pts
0.69%
47 TAGM-B TagMaster AB (publ) STO 443.82M 31.60 0.00 pts
0.64%
48 BINERO Binero Group AB (publ) STO 222.03M 1.60 0.00 pts
0.63%
49 WYLD Wyld Networks AB (publ) STO 56.00M 0.32 0.00 pts
0.63%
50 ONEF Oneflow AB (publ) STO 490.58M 17.35 0.00 pts
0.58%
51 ERIC-A Telefonaktiebolaget LM Ericsson (publ) STO 319.87B 98.30 0.00 pts
0.51%
52 BIM BIMobject AB STO 736.13M 5.01 0.00 pts
0.50%
53 OBSE Observit AB STO 398.32M 0.668 0.00 pts
0.45%
54 WEG Windon Energy Group AB STO 85.14M 0.45 0.00 pts
0.45%
55 ERIC-B Telefonaktiebolaget LM Ericsson (publ) STO 316.47B 97.06 0.00 pts
0.31%
56 SOF-B Softronic AB (publ) STO 1.17B 22.55 0.00 pts
0.22%
57 DEVP-B DevPort AB (publ) STO 102.79M 10.20 0.00 pts
0.00%
58 PRCO-B Precio Fishbone AB (publ) STO 167.92M 18.30 0.00 pts
0.00%
59 ADVE Advenica AB (publ) STO 752.16M 17.08 0.00 pts
-0.12%
60 SIVE Sivers Semiconductors AB (publ) STO 8.64B 27.26 0.00 pts
-0.22%
61 AVEN Avensia AB (publ) STO 225.71M 6.06 0.00 pts
-0.33%
62 FLOWS Flowscape Technology AB (publ) STO 65.04M 3.30 0.00 pts
-0.60%
63 CAG CAG Group AB (publ) STO 691.68M 93.20 0.00 pts
-0.64%
64 ALBERT eEducation Albert AB (publ) STO 115.59M 4.57 0.00 pts
-0.65%
65 DIST DistIT AB (publ) STO 135.67M 0.1435 0.00 pts
-0.69%
66 C100 C100 AB (publ) STO 23.10M 4.16 -0.01 pts
-0.95%
67 KJELL Kjell Group AB (publ) STO 1.50B 15.50 -0.01 pts
-1.27%
68 TOUCH Touchtech AB STO 50.99M 4.54 -0.01 pts
-1.30%
69 JLT JLT Mobile Computers AB (publ) STO 42.49M 1.46 -0.01 pts
-1.35%
70 LIME Lime Technologies AB (publ) STO 3.42B 252.50 -0.01 pts
-1.56%
71 VERT-B Vertiseit AB (publ) STO 2.06B 60.80 -0.01 pts
-1.62%
72 SPEONE SpectrumOne AB (publ) STO 59.23M 0.15 -0.01 pts
-1.64%
73 CDMIL CodeMill AB (publ) STO 198.20M 14.30 -0.01 pts
-1.72%
74 ABSL-B Absolicon Solar Collector AB STO 40.04M 2.82 -0.01 pts
-1.74%
75 FREJA Freja eID Group AB (publ) STO 544.09M 18.70 -0.01 pts
-1.84%
76 SEYE Smart Eye AB (publ) STO 2.31B 55.60 -0.01 pts
-1.85%
77 BUSER Bambuser AB (publ) STO 170.70M 20.80 -0.01 pts
-1.89%
78 ACUVI Acuvi AB STO 281.85M 8.29 -0.01 pts
-1.89%
79 VIT-B Vitec Software Group AB (publ) STO 10.95B 273.60 -0.01 pts
-2.01%
80 ENEA Enea AB (publ) STO 1.19B 62.20 -0.01 pts
-2.05%
81 KNOW Knowit AB (publ) STO 2.61B 94.00 -0.01 pts
-2.08%
82 QBNK QBNK Holding AB STO 66.80M 6.70 -0.02 pts
-2.19%
83 HMS HMS Networks AB (publ) STO 26.33B 513.00 -0.02 pts
-2.19%
84 OPTER Opter AB (publ) STO 512.40M 83.40 -0.02 pts
-2.34%
85 OPSYH Opsy Holding AB (publ) STO 126.34M 9.70 -0.02 pts
-2.51%
86 BETCO Better Collective A/S STO 6.83B 116.60 -0.02 pts
-2.67%
87 SONE Sonetel AB (publ) STO 43.76M 5.80 -0.02 pts
-3.01%
88 ACCON Acconeer AB (publ) STO 1.25B 15.90 -0.02 pts
-3.28%
89 INISS-B Inission AB (publ) STO 1.64B 68.80 -0.02 pts
-3.37%
90 PREV-B Prevas AB STO 886.50M 67.40 -0.03 pts
-3.58%
91 TRUE-B Truecaller AB (publ) STO 7.68B 23.72 -0.03 pts
-3.58%
92 FRACTL Fractal Gaming Group AB (publ) STO 421.81M 13.94 -0.03 pts
-3.60%
93 MEAB-B Malmbergs Elektriska AB (publ) STO 277.60M 33.40 -0.03 pts
-3.75%
94 LUMEN LumenRadio AB (publ) STO 656.77M 50.20 -0.03 pts
-3.83%
95 GAPW-B Gapwaves AB (publ) STO 445.50M 11.78 -0.03 pts
-3.92%
96 UNIBAP Unibap Space Solutions AB (publ) STO 91.60M 8.78 -0.03 pts
-3.94%
97 BEAMMW-B BeammWave AB (publ) STO 707.04M 12.70 -0.03 pts
-4.08%
98 HEXA-B Hexagon AB (publ) STO 269.65B 96.32 -0.03 pts
-4.11%
99 AIXIA-B Aixia Group AB ser. B STO 126.08M 76.60 -0.03 pts
-4.25%
100 DONE Done.ai Group AB STO 678.82M 7.64 -0.03 pts
-4.26%

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

Evidence context