LSE · Financial Services · Weekly analysis

TNE Elliott Wave report

Technologies New Energy plc

Latest close GBP 0.215 Week ending 11 Sep 2026 History 236 weeks
Current reading

The wave count points to a decline

The selected pattern describes a move downward. Compare it with trend, momentum and the price levels below before drawing a conclusion.

85/100 Setup score 97/100 Data quality Triggered Setup status
A setup score is a measure of fit, not a probability or price forecast.
How to use this report

Start with price. Read the selected pattern and the weekly closing levels beside the chart. “Confirm” means a move supports that interpretation; it does not guarantee a return.

Compare the evidence. A wave count can disagree with the trend, momentum or sector. The report points out those differences before looking at timing.

Check the limits. Timing windows are estimates, the last swing can move, and historical outcomes vary. Open the rules and data notes for more detail.

01 · Price & key levels

The pattern and the prices to watch

Selected wave countPossible bearish Wave 3 declining

Numbers 1 to 5 label the successive legs of the selected wave pattern. The last point can still move.

Other readingsThe other readings support this direction

6 of 7 available readings support the downward wave interpretation; 1 lean against it. Agreement adds context, but does not guarantee the next move.

Main uncertaintyModerate count stability

The leading count changed 2 times across the last 9 checks. Keep the alternative interpretations in view.

Weekly price and wave pattern

Move across the chart to inspect a week. Turn on explanations for a guide to the marked points.

Weekly close30-week trendFair ValueConfirmationCount failureSelected pattern

The shaded area marks the selected pattern. Filled dots mark confirmed turns; the outlined dot is still forming. Prices use completed weeks; changing the chart range does not recalculate the count.

Weekly chart values
Prices in GBP · the history displayed on the chart
Week endingClose30-week trendFair Value
2023-09-220.0550.08570.1197
2023-09-290.0650.08370.119
2023-10-060.0550.08130.1183
2023-10-130.0550.0790.1175
2023-10-200.0550.07670.1168
2023-10-270.0550.07430.116
2023-11-030.0550.0720.1153
2023-11-100.0550.070.1147
2023-11-170.0550.0680.114
2023-11-240.0550.0660.1133
2023-12-010.0550.0640.1127
2023-12-080.0550.06350.1121
2023-12-150.0550.0630.1115
2023-12-220.0550.06250.1109
2023-12-290.0550.0620.1103
2024-01-050.0550.06150.1097
2024-01-120.0550.0610.1091
2024-01-190.0550.06050.1086
2024-01-260.0550.060.108
2024-02-020.0550.05950.1075
2024-02-090.0550.0590.107
2024-02-160.0550.05850.1065
2024-02-230.0550.0580.106
2024-03-010.0550.05750.1055
2024-03-080.0550.0570.105
2024-03-150.0550.05670.1045
2024-03-220.0550.05630.1041
2024-03-290.0550.0560.1036
2024-04-050.0550.05570.1032
2024-04-120.0550.05530.1027
2024-04-190.0550.05530.1023
2024-04-260.0550.0550.1019
2024-05-030.0550.0550.1015
2024-05-100.0550.0550.1011
2024-05-170.0550.0550.1007
2024-05-240.0550.0550.1003
2024-05-310.0550.0550.0999
2024-06-070.0550.0550.0995
2024-06-140.0550.0550.0991
2024-06-210.0550.0550.0988
2024-06-280.0550.0550.0984
2024-07-050.0550.0550.098
2024-07-120.0550.0550.0977
2024-07-190.0550.0550.0973
2024-07-260.0550.0550.097
2024-08-020.0550.0550.0967
2024-08-090.0550.0550.0963
2024-08-160.0550.0550.096
2024-08-230.0550.0550.0957
2024-08-300.0550.0550.0954
2024-09-060.0550.0550.0951
2024-09-130.0550.0550.0948
2024-09-200.0550.0550.0945
2024-09-270.0550.0550.0942
2024-10-040.0550.0550.0939
2024-10-110.0550.0550.0936
2024-10-180.0550.0550.0933
2024-10-250.0550.0550.093
2024-11-010.0550.0550.0928
2024-11-080.0550.0550.0925
2024-11-150.0550.0550.0922
2024-11-220.0550.0550.092
2024-11-290.0550.0550.0917
2024-12-060.0550.0550.0915
2024-12-130.0550.0550.0912
2024-12-200.0550.0550.091
2024-12-270.0550.0550.0907
2025-01-030.0550.0550.0905
2025-01-100.0550.0550.0902
2025-01-170.0550.0550.09
2025-01-240.0550.0550.0898
2025-01-310.0550.0550.0895
2025-02-070.0550.0550.0893
2025-02-140.0550.0550.0891
2025-02-210.0550.0550.0889
2025-02-280.0550.0550.0887
2025-03-070.0550.0550.088
2025-03-140.0550.0550.0874
2025-03-210.0550.0550.0868
2025-03-280.0550.0550.0862
2025-04-040.0550.0550.0856
2025-04-110.0550.0550.085
2025-04-180.0550.0550.0844
2025-04-250.0550.0550.0838
2025-05-020.090.05620.0834
2025-05-090.1250.05850.0832
2025-05-160.1250.06080.0831
2025-05-230.1250.06320.0829
2025-05-300.1250.06550.0828
2025-06-060.1250.06780.0826
2025-06-130.1250.07020.0824
2025-06-200.150.07330.0824
2025-06-270.2550.080.0831
2025-07-040.250.08650.0838
2025-07-110.250.0930.0844
2025-07-180.250.09950.085
2025-07-250.250.1060.0857
2025-08-010.250.11250.0863
2025-08-080.250.1190.087
2025-08-150.250.12550.0876
2025-08-220.250.1320.0882
2025-08-290.250.13850.0889
2025-09-050.250.1450.0895
2025-09-120.250.15150.0902
2025-09-190.250.1580.0908
2025-09-260.250.16450.0914
2025-10-030.250.1710.0922
2025-10-100.250.17750.093
2025-10-170.250.1840.0938
2025-10-240.250.19050.0946
2025-10-310.250.1970.0954
2025-11-070.300.20520.0966
2025-11-140.300.21330.0977
2025-11-210.300.22150.0988
2025-11-280.300.22850.0999
2025-12-050.300.23430.1011
2025-12-120.300.24020.1022
2025-12-190.300.2460.1033
2025-12-260.300.25180.1044
2026-01-020.300.25770.1055
2026-01-090.300.26350.1067
2026-01-160.300.26850.1078
2026-01-230.330.2710.1091
2026-01-300.330.27370.1104
2026-02-060.330.27630.1117
2026-02-130.330.2790.113
2026-02-200.330.28170.1144
2026-02-270.330.28430.1157
2026-03-060.330.2870.117
2026-03-130.330.28970.1183
2026-03-200.330.29230.1196
2026-03-270.330.2950.1209
2026-04-030.370.2990.1225
2026-04-100.370.3030.1241
2026-04-170.370.3070.1258
2026-04-240.370.3110.1274
2026-05-010.370.3150.129
2026-05-080.320.31730.1306
2026-05-150.320.31970.1322
2026-05-220.320.3220.1338
2026-05-290.320.32430.1354
2026-06-050.320.3250.1371
2026-06-120.320.32570.1387
2026-06-190.320.32630.1403
2026-06-260.240.32430.1413
2026-07-030.240.32230.1424
2026-07-100.240.32030.1435
2026-07-170.250.31870.1447
2026-07-240.250.3170.1458
2026-07-310.250.31530.147
2026-08-070.250.31370.1481
2026-08-140.2550.31220.1494
2026-08-210.2650.310.1506
2026-08-280.2650.30780.1519
2026-09-040.2650.30570.1532
2026-09-110.2150.30180.1542
4-week return -15.7%
13-week return -32.8%
26-week return -34.8%
52-week return -14.0%
From 52-week high -50.8%
26-week volatility 51.0%
02 · Wave count

How the wave count fits

The chart uses a 5.0% closing-price reversal threshold. Filled markers are confirmed pivots; the outlined final marker is still forming.

Scenario comparison

Compare the possible patterns

Possible bearish Wave 3 decliningPrimary swing size · Leading38%
A/B/C reset may be completingPrimary swing size23%
Possible bearish Wave 3 decliningStrategic swing size38%
Weights compare the displayed patterns; they are not probabilities. The same pattern can appear at different swing sizes.
Leading wave count

Possible bearish Wave 3 declining

38% evidence weight

The count below meets the required wave rules. The details show which swings and proportions support it. A valid pattern is still an interpretation of past price moves.

Confirm below 0.215 Fails above 0.265 Count stability Moderate · 68/100
Wave rules and proportions
PassWave 2 protects the Wave 1 originOrigin 0.37; Wave 2 0.265.
PassWave 3 exceeds Wave 1Wave 1 0.24; Wave 3 0.215.
GuidelineWave 2 retracement is proportionateRetraced 19% of Wave 1.
GuidelineWave 3 extension is plausibleWave 3 is 0.38× Wave 1.
Strategic degreePossible bearish Wave 3 declining

Strategic degree uses a 8.0% weekly closing-price reversal threshold.

Primary degreePossible bearish Wave 3 declining

Primary degree uses a 5.0% weekly closing-price reversal threshold.

Tactical degreePossible bearish Wave 3 declining

Tactical degree uses a 3.5% weekly closing-price reversal threshold.

Active swing -18.9%

1 weeks · Forming

Nearest confirmed support 0.055

Pivot from 2025-04-25

Nearest confirmed resistance 0.265

Pivot from 2026-09-04

30-week trend 0.3018

Price is -28.8% from trend

Fair Value reference 0.1542

Price is 39.5% from Fair Value

52-week range position 0%

0.215 low · 0.4372 high

03 · Supporting evidence

Where the evidence agrees or disagrees

6 of 7 available readings support the downward wave interpretation; 1 lean against it. Agreement adds context, but does not guarantee the next move.

86% directional agreement

The other readings support this direction. 6 readings support the selected direction; 1 lean against it.

Trend

Price remains below its 30-week trend.

28.8% below trend
Cycle pressure

The medium-term pressure curve is turning higher.

Troughing
Cycle alignment

Several cycle lengths are weakening together.

Falling Stack
Relative strength

Underperforming its benchmark

-30.6
Market activity

Participation is weak

-34.0
Market dynamics

Price and volume behaviour is weak

-0.5
30-week momentum

Medium-term momentum is negative

-34.8
Balance of readings Defensive

1 constructive, 6 weak and 0 neutral measures.

Agreement describes direction among the readings. It does not necessarily support the selected wave count.

Market activity

Whether participation is supporting the move.

Participation is weak. This supports the downward wave view.

Relative strength

Performance against the market benchmark.

Underperforming its benchmark. This supports the downward wave view.

30-week momentum

The pace of the medium-term price move.

Medium-term momentum is negative. This supports the downward wave view.

Market dynamics

A separate scale prevents this lower-range measure being hidden by relative strength.

Price and volume behaviour is weak. This supports the downward wave view.

04 · Cycle timing

What cycle timing adds

Cycle estimates help describe timing. They do not set a date for the next price turn.

Cycle pressure is near a low and starting to turn. Look for price to confirm an upswing.

Cycle repeat scores range from 17 to 40/100. Low scores mean the past rhythm is irregular, so the projected weeks deserve less weight.

Pressure phaseTroughing

Current medium-term pressure direction

Cycle agreementFalling Stack

25/100 constructive · 75/100 risk

Estimated next low8 weeks

Timing estimate, not a dated forecast

Estimated next high14 weeks

Timing estimate, not a dated forecast

Cycle pressure

Above zero is positive pressure; direction matters more than the absolute number.

Shorter and longer cycles

The thick line is the blended reading; thinner lines show 20, 40 and 80-week components.

An observed cycle is the repeat found in past prices. The repeat score describes how clearly it appears. FLD is a shifted price reference used to check a turn. Low timing scores can coexist with a positive price-cross check.

Typical / observed cycle10w / 8w
Current phaseFalling
Repeat score40/100
Price-cross check (FLD)Crossed Down
Since last trough5w
Possible next low2–4w
Typical / observed cycle20w / 15w
Current phaseFalling
Repeat score22/100
Price-cross check (FLD)Crossed Down
Since last trough7w
Possible next low6–10w
Typical / observed cycle40w / 30w
Current phaseTroughing
Repeat score19/100
Price-cross check (FLD)Crossed Down
Since last trough5w
Possible next low0–88w
Typical / observed cycle80w / 72w
Current phaseFalling
Repeat score17/100
Price-cross check (FLD)Crossed Down
Since last trough147w
Possible next low53–85w
05 · Risk

Risk behind the price move

Wave structure is easier to judge when drawdown, volatility and participation are visible beside it.

Risk in context

How much room price has to move

Price is 41.9% below the highest weekly close in the stored history. It is 50.8% below the 52-week high. The two figures use different reference points.

Largest contributors to the risk score

  • Multi-cycle risk

    Hurst risk alignment is 75/100.

  • Count instability

    The primary interpretation has moderate recent stability.

Downside risk check

Contained

14/100
Wave maturity0/25
Trend extension0/20
Range position0/15
Cycle rollover0/15
Multi-cycle risk11/15
Count instability3/10
Event proximity0/10

This score combines the risk checks shown here. A higher score means more warning signs, not a measured probability of a fall.

52-week low0.215
52-week high0.4372
Annualised volatility51.0%

Based on the latest 26 weekly returns

Average weekly range6.9%

Average high-to-low range over 13 weeks

Current drawdown-41.9%

From the highest close in the stored record

Latest volume123%

Of its trailing 20-week average

Drawdown history

Distance below the highest prior weekly close.

Realised volatility

Annualised variability of the latest 26 weekly returns.

Relative volume

Weekly volume as a percentage of its 20-week average.

06 · Market context

Sector trends and upcoming events

Compare the pattern with other stocks in the sector, then check whether an event could change the price picture.

Sector breadth

Most analysed peers have an upward wave count. That contrasts with this report’s downward interpretation.

79% constructive

19 of 24 analysed peers have a leading upward wave pattern.

12% have improving cycles Breadth shows whether peers share the structure. Cohort outcomes use non-overlapping, point-in-time trend and momentum states from the same sector and report benchmark excess return when matching benchmark bars exist; they are context, not a backtest of the Elliott count.
Earnings and options

Event information is limited

No additional warning is recorded. Missing event data does not rule out a surprise.

These are the latest stored event readings. Missing earnings or options data does not mean that event risk is absent.
Peer-state horizonNon-overlapping samplesPositiveMedianMedian excess vs ^FTSEMiddle 80% of returns
4 weeks45856%1.3%0.3%-8.4% to 13.0%
13 weeks18762%4.1%1.7%-12.4% to 22.4%
26 weeks11268%4.9%1.6%-13.8% to 39.4%
07 · History

What happened after similar readings

After similar readings, the middle 4-week return was +0.0% across 46 completed outcomes. The range below shows how far individual outcomes differed. Overlapping weeks are not independent tests of this wave count.

47 similar weekly states

Typical return after a match

Median outcome after each matching historical week.

4w
0.0%
13w
-7.1%
26w
-15.4%
HorizonMatchesPositiveMedianRange
4 weeks 46 15% 0.0% -39.1% to 6.0%
13 weeks 39 0% -7.1% -39.1% to 0.0%
26 weeks 39 0% -15.4% -52.2% to 0.0%

Overlapping historical matches are descriptive context, not independent observations or a forecast.

Data quality, rules and limitations
Evidence quality97/100

This measures usable history, indicator coverage and confirmed swing points. It does not measure the chance of the scenario succeeding.

Weekly history
91/100
Indicator coverage
100/100
Confirmed structure
100/100
Model ewc-2.1.0 · as of 2026-09-11 · only the final active pivot is provisional; confirmed pivots are retained.
How the count is built

Rules and data notes

  • Swing points use weekly closes and a 5.0% adaptive reversal threshold.
  • The final swing is provisional until the reversal threshold is met.
  • Candidate counts must pass the Wave 2 origin, Wave 3 progression/length and Wave 4 overlap rules when those waves are present.
  • Fibonacci proportions and alternation rank valid candidates but never rescue a hard-rule failure.
  • Primary and alternate evidence weights compare admissible counts; they are not probabilities.
  • Nominal Hurst periods adapt to observed weekly rhythm. Future windows include measured timing uncertainty and require FLD or price confirmation.
Audit trail

Recent swing points

Dates and prices for the recent swings. The final point can still move.

DateStatusTypePriceMoveDuration
2022-09-30 Confirmed High 0.15 - 0 weeks
2023-09-22 Confirmed Low 0.055 -63.3% 51 weeks
2023-09-29 Confirmed High 0.065 18.2% 1 weeks
2025-04-25 Confirmed Low 0.055 -15.4% 82 weeks
2026-05-01 Confirmed High 0.37 572.7% 53 weeks
2026-07-10 Confirmed Low 0.24 -35.1% 10 weeks
2026-09-04 Confirmed High 0.265 10.4% 8 weeks
2026-09-11 Forming Low 0.215 -18.9% 1 weeks

Chart guide

Evidence context