Global industry intelligenceWeek ending 4 September 2026

Telecom Services

For the week ending 04 September 2026, Telecom Services advanced 0.07% with 163 advancing, 168 declining, and 27 unchanged constituents.

Industry positioning postureReduce exposure into strength

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

Industry evidence score47/100Reduce
Index value1224.52
Weekly return0.07%
Measured equities358
Sibling rank5 of 7
Parent sectorCommunication ServicesOpen the complete sector intelligence page

156 completed weeks

Telecom Services trend architecture

Price, Activity Lines, Trend Line and current Fair Value, with the recognized architecture behind each completed week.

ArchitectureUnresolved Index vs Trend-2.2% 13-week persistence-1.7% Advancing participation46%
Index Value Trend Line Fair Value Activity Lines Constructive Transition Defensive

Positioning and relative evidence

Is Telecom Services earning a place in the portfolio?

Technical evidence determines the posture. Sentiment remains a separate confirmation layer.

Current posture

Reduce exposure into strength

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

Defensive47/100Position
Sentiment held separateQualified news coverage is too thin to alter the technical positioning view.
Five-pillar evidence

Quality of the positioning case

47
Trend
42
Breadth
40
Persistence
44
Relative
46
Risk quality
91
Parent-relative performance

Returns versus Communication Services

Composite rank 5 of 7
1 week0.1%0.2 pts
4 weeks0.8%0.4 pts
13 weeks-1.7%-1.6 pts
26 weeks-4.3%-1.1 pts
52 weeks-1.5%8.8 pts
Relative leadership path

Telecom Services versus Communication Services

Weakening
Evidence ledger

Confirmation and conflict

!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 30 percentage points.

Decision boundaries

What would change the posture?

1A completed weekly reclaim of 1,251.70, the higher of Trend Line and Fair Value, would improve the structural case.

2Breadth holding above 55% for several completed weeks would show that repair is spreading.

3Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

Trend state and durability

Architecture, persistence and constituent regimes

The industry index path is tested against the securities beneath it.

Index architecture

Unresolved

4 weeks

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

Trend gateDownFan width1.53%Accepted above fan0%Accepted below fan0%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.

13-week
-1.7%
26-week
-4.3%
39-week
-1.6%
52-week
-1.5%
Regime age4 weeks52-week flips352-week boundary1242.65
Constituent trend persistence

How broadly durable is the move?

94% coverage
46%positive
Coherent positive17%
Coherent negative24%
Horizon agreement77%
Weakening positives67
Repairing negatives67

338 constituents measured as of 4 Sep 2026.

Custom stage map

Where covered constituents sit in the cycle

94% coverage
51%Stage 4
Stage 1 Basing10%33
Stage 2 Advancing21%72
Stage 3 Distribution18%61
Stage 4 Declining51%170
Re-acceleration3Transition watch44Fair Value repairs16

Stage coverage is shown explicitly and is not substituted for full-universe persistence coverage.

Geographic diffusion

Where Telecom Services strength is developing

Country returns, participation and Trend position show whether the global result is widely shared or locally concentrated.

Countries measured2535 represented in the full universe
Positive countries10 / 25Latest weekly return above zero
Above Trend Line36%9 country indexes
Return dispersion1.74 ptsCross-country opportunity and divergence
Middle East and Africa1.65%

3 countries · 19 equities · 5% of measured coverage

Participation74%Countries above Trend100%
Europe0.48%

6 countries · 64 equities · 18% of measured coverage

Participation50%Countries above Trend50%
North America0.32%

3 countries · 71 equities · 20% of measured coverage

Participation57%Countries above Trend33%
Latin America0.00%

2 countries · 33 equities · 9% of measured coverage

Participation45%Countries above Trend0%
Other markets-0.11%

1 countries · 5 equities · 1% of measured coverage

Participation40%Countries above Trend0%
Asia Pacific-0.25%

10 countries · 148 equities · 41% of measured coverage

Participation44%Countries above Trend20%
Country evidence map

Return, breadth and trend condition

Minimum 3 constituents
🇮🇱IL8 4.37% 100% up · above Trend 🇫🇷FR6 4.25% 50% up · below Trend 🇨🇳CN20 2.36% 70% up · below Trend 🇿🇦ZA6 1.57% 83% up · above Trend 🇬🇧GB8 1.42% 63% up · above Trend 🇦🇹AT19 1.21% 63% up · above Trend 🇮🇩ID17 0.99% 53% up · above Trend 🇺🇸US52 0.57% 56% up · below Trend 🇧🇷BR22 0.42% 41% up · below Trend 🇨🇦CA9 0.31% 67% up · above Trend 🇯🇵JP24 -0.05% 46% up · above Trend 🇩🇪DE17 -0.11% 41% up · below Trend 🇹🇼TW5 -0.11% 40% up · below Trend 🇲🇾MY14 -0.49% 21% up · below Trend 🇸🇬SG8 -0.72% 13% up · below Trend 🇦🇷AR11 -0.86% 45% up · below Trend 🇪🇸ES4 -0.91% 25% up · below Trend 🇲🇽MX10 -0.96% 40% up · below Trend 🇦🇺AU11 -1.03% 36% up · below Trend 🇮🇳IN15 -1.04% 27% up · below Trend 🇭🇰HK19 -1.38% 47% up · below Trend 🇰🇷KR7 -1.66% 0% up · below Trend 🇹🇭TH13 -1.78% 15% up · below Trend 🇸🇪SE10 -2.38% 20% up · above Trend 🇸🇦SA5 -2.61% 20% up · above Trend

10 thin country slices are excluded from comparative conclusions. Their securities remain in the global index.

Country leadership

Strongest confirmed tapes

🇮🇱Israel8 equities4.37%
🇫🇷France6 equities4.25%
🇨🇳China20 equities2.36%
🇿🇦South Africa6 equities1.57%
🇬🇧United Kingdom8 equities1.42%
🇦🇹Austria19 equities1.21%
Country pressure

Weakest current tapes

🇸🇦Saudi Arabia5 equities-2.61%
🇸🇪Sweden10 equities-2.38%
🇹🇭Thailand13 equities-1.78%
🇰🇷South Korea7 equities-1.66%
🇭🇰Hong Kong19 equities-1.38%
🇮🇳India15 equities-1.04%

Sibling industry comparison

Where Telecom Services sits inside Communication Services

Relative strength, acceleration and participation separate durable leadership from a one-week move.

Composite rank5 / 7 Leading3 Lagging2 Above Trend1 / 7 Return dispersion0.52 pts

Market internals and risk

Participation, momentum and payoff shape

The headline index is tested against participation, volatility, drawdown and the distribution of security returns.

Advancing participation45.5%-1.0 points versus recent baseline
13-week positive weeks54%Index-level hit rate
Annualised volatility7.6%52-week index return volatility
Current drawdown-6.4%From the 52-week index high
156-week max drawdown-8.6%Peak-to-trough index decline
Breadth impulse

Net advancing participation

Range -100 to +100
Trend momentum

Trend Line rate of change

Positive or negative slope
Security return distribution

What the headline return conceals

358 equities
Average loser-3.11%
Average winner+3.49%
Median equity0.00%The middle security, less sensitive to extreme movers
Interquartile range-1.86% to 1.84%The central half of the universe
Security dispersion6.05 ptsCross-sectional opportunity and stock-selection risk

News and price confirmation

Does company news confirm the Telecom Services tape?

Open sentiment intelligence

Qualified sentiment coverage for this industry is still building.

Security leadership

The equities driving the result

Weekly leaders and laggards reveal whether the index move is broad, concentrated or vulnerable to reversal.

Latest week

Full global industry tape

Showing 1-30 of 358, sorted by weekly return.

Ticker Company Market Open High Low Close Return
IAM Itissalat Al-Maghrib (IAM) S.A. FR · PAR 5.34 9.46 5.28 9.10 70.41%
0017 Nova Technology Services Berhad MY · KLS 0.035 0.04 0.03 0.04 14.29%
TDS Telephone and Data Systems Inc US · NYSE 33.63 38.22 33.08 37.83 12.42%
LUMN Lumen Technologies Inc US · NYSE 5.99 7.07 5.88 6.77 12.09%
SFT SoftBank Group Corp. AT · VIE 28.09 30.67 26.42 30.55 9.79%
FRX FlexiRoam Limited AU · ASX 0.022 0.023 0.021 0.023 9.52%
WDCN3 WDC NETWORKSON NM BR · SAO 2.37 2.69 2.34 2.59 9.28%
DISI Discount Investment Corporation Ltd. IL · TLV 80,020.00 87,990.00 78,090.00 87,210.00 8.99%
SOFTBANK23 SoftBank Group Corp. TH · SET 2.00 2.24 1.94 2.22 8.82%
300025 Hangzhou Huaxing Chuangye Communication Technology Co., Ltd. CN · SHZ 5.35 6.19 5.31 5.87 8.70%
TELB3 Telecomunicações Brasileiras S.A. - Telebras BR · SAO 17.05 20.00 15.00 17.86 8.64%
9984 SoftBank Group Corp. JP · JPX 4,900.00 5,611.00 4,883.00 5,590.00 8.31%
UCL Ucloudlink Group Inc US · NASDAQ 0.3761 0.4257 0.3624 0.414 8.21%
LINK PT Link Net Tbk ID · JKT 1,550.00 1,690.00 1,480.00 1,660.00 8.14%
600936 Guangxi Beitou Technology Company Limited CN · SHH 5.07 5.64 4.99 5.45 7.71%
INET PT Sinergi Inti Andalan Prima Tbk ID · JKT 340.00 376.00 334.00 366.00 7.65%
AD Array Digital Infrastructure, Inc. US · NYSE 35.91 38.97 35.91 38.50 6.94%
300766 Merit Interactive Co.,Ltd. CN · SHZ 20.90 23.67 20.90 22.63 6.85%
0195 Binasat Communications Berhad MY · KLS 0.075 0.08 0.07 0.08 6.67%
VOD Vodafone Group Public Limited Company AT · VIE 13.90 14.60 13.70 14.60 6.57%
MTEL PT Dayamitra Telekomunikasi Tbk. ID · JKT 460.00 490.00 458.00 490.00 6.52%
BLU Blu Label Unlimited Group Limited ZA · JNB 820.00 883.00 808.00 870.00 6.49%
301380 Beijing Waluer Information Technology Co., Ltd. CN · SHZ 30.52 33.96 30.05 32.81 6.46%
PTNR Partner Communications Company Ltd. IL · TLV 372,300.00 400,700.00 363,000.00 396,000.00 6.37%
NXTM Nextcom Ltd. IL · TLV 131,700.00 148,700.00 129,000.00 139,900.00 6.23%
VOD Vodafone Group Public Limited Company GB · LSE 120.00 127.10 117.56 125.60 6.04%
CCOI Cogent Communications Group Inc US · NASDAQ 9.42 10.42 8.88 10.05 6.01%
ALMEX Mexedia Società Per Azioni S.B. FR · PAR 3.48 3.90 3.45 3.68 5.89%
STLNETWORK STL NETWORKS LIMITED IN · NSI 27.67 28.87 26.71 28.87 5.83%
VODI Vodafone Group Public Limited Company DE · GER 1.36 1.48 1.36 1.46 5.80%

Evidence context