Weekly structural research · CPH · Technology

NETC Stage Analysis

Netcompany Group A/S

Week ending 9 Oct 2026Close DKK 342.80Tenure DevelopingBenchmark ^OMXC25
Screen this regime Supporting research Report data ↗
Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction
Balance · Balance after decline

Directional pressure has compressed into balance.

Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base.

  • The Trend gate is down within the current regime.
  • Fast Activity versus Slow Activity: improving.
  • Activity structure: compressed and contracting.
Direction 0−100 bearish to +100 bullish
Energy 3/100directional strength
Maturity 20/100lifecycle context
Confidence 73/100evidence agreement
Trend gate Downstructural direction
Activity structure Compressedcontracting separation
Price acceptance -33.3%position within the Activity structure
Fair Value context +14.4%DKK 299.62 · improving
Trend Architecture map · Historical context

Weekly close, Activity, Trend and Fair Value

Follow price and Trend first, then add Activity Lines to inspect the structure. Subtle bands show the regime recognized at each completed observation; the dashed line marks current Fair Value, not a historical forecast.

CloseTrendCurrent Fair Value
Background stage key
  • BalanceDirection is contained.
  • Rotation UpStructure is turning higher.
  • Upward ExpansionUptrend is established.
  • DecelerationUptrend is losing energy.
  • Rotation DownStructure is turning lower.
  • Downward ExpansionDowntrend is established.
View chart values · 156 observations
WeekCloseTrendRelative StrengthVolumeRegimeDirectionEnergy
2026-10-09342.80334.311.69578987Balance03
2026-10-02320.80333.78-4.32391465Balance-4132
2026-09-25310.00334.41-8.27354932Balance-5238
2026-09-18318.80334.85-7.16294785Balance-3924
2026-09-11318.00334.54-6.93417944Balance-3922
2026-09-04326.20334.01-6.6675280Balance-1913
2026-08-28321.00333.90-8.5087680Downward Expansion-3020
2026-08-21321.20334.29-7.4384743Downward Expansion-2822
2026-08-14336.40335.06-2.45323068Downward Expansion-2719
2026-08-07330.00335.55-1.2474389Downward Expansion-3821
2026-07-31323.00336.53-2.7180699Downward Expansion-4429
2026-07-24306.80337.47-6.7652766Downward Expansion-6151
2026-07-17317.20338.81-6.93109806Downward Expansion-6165
2026-07-10306.00339.76-8.61198347Downward Expansion-6169
2026-07-03313.40341.13-7.5176347Downward Expansion-5764
2026-06-26292.20341.93-9.10219636Balance-7261
2026-06-19304.40342.97-2.17401982Balance-3027
2026-06-12332.00343.095.1477907Balance-1412
2026-06-05357.00342.5714.32538937Balance2519
2026-05-29343.40340.888.65472892Balance1921
2026-05-22340.00340.227.74558844Upward Expansion2019
2026-05-15324.20338.683.99421149Upward Expansion1613
2026-05-08350.60337.0914.06919872Upward Expansion5436
2026-05-01370.60334.8520.36381045Upward Expansion5850
2026-04-24371.40331.5522.42487728Upward Expansion6169
2026-04-17403.40327.2129.52656764Upward Expansion7876
2026-04-10360.40322.0418.37621697Upward Expansion5758
2026-04-03392.60318.2132.75589222Deceleration7762
2026-03-27350.00313.4624.28816453Deceleration4628
2026-03-20325.40309.8917.29396701Deceleration2716
2026-03-13327.00307.4915.30568998Deceleration159
2026-03-06339.80304.7218.56560010Deceleration2018
2026-02-27323.20301.3810.79548068Deceleration521
2026-02-20309.40298.431.41530134Deceleration-021
2026-02-13302.20296.51-0.43595655Deceleration1020
2026-02-06322.80295.234.111472563Upward Expansion4127
2026-01-30332.60293.354.38342393Upward Expansion5046
2026-01-23344.40291.157.41550934Upward Expansion6356
2026-01-16351.20288.698.12968863Upward Expansion6663
2026-01-09359.20286.7012.52489199Upward Expansion7780
2026-01-02351.20284.4914.74269682Upward Expansion7384
2025-12-26347.20282.7513.93126780Upward Expansion7182
2025-12-19345.60281.3314.55597892Upward Expansion7481
2025-12-12347.00279.9514.58490387Upward Expansion8279
2025-12-05337.60278.5213.91566115Upward Expansion8277
2025-11-28323.20277.2710.33498015Rotation Up7568
2025-11-21308.00276.658.20465889Rotation Up4070
2025-11-14316.40275.839.54388697Rotation Up5078
2025-11-07306.40274.658.42553898Rotation Up3670
2025-10-31323.60273.5314.231294540Rotation Up5476
2025-10-24293.80271.652.91571439Balance4247
2025-10-17276.40270.83-2.81429516Balance524
2025-10-10283.40270.73-0.471185310Downward Expansion1119
2025-10-03271.80270.56-4.04935243Downward Expansion-2418
2025-09-26241.20271.33-11.50395638Downward Expansion-6546
2025-09-19248.20273.12-11.05418882Downward Expansion-4739
2025-09-12245.60274.51-11.62447367Downward Expansion-5141
2025-09-05250.00275.87-10.47490798Downward Expansion-5946
2025-08-29243.00276.89-12.98744849Downward Expansion-6656
2025-08-22253.20278.59-11.94426241Downward Expansion-6574
2025-08-15244.00281.18-12.03621873Downward Expansion-6785
2025-08-08239.60284.23-14.51540047Downward Expansion-7990
2025-08-01234.80287.55-14.46421865Downward Expansion-9091
2025-07-25251.80291.10-16.16542243Downward Expansion-8183
2025-07-18263.80294.01-9.43243159Downward Expansion-7076
2025-07-11266.40296.30-8.38281496Downward Expansion-6970
2025-07-04266.40299.62-7.94620655Balance-6851
2025-06-27270.60303.07-6.28318314Balance-5332
2025-06-20291.60305.77-0.18463252Balance-2212
2025-06-13293.00307.89-3.63239629Balance-610
2025-06-06298.80309.51-1.42320955Balance-115
2025-05-30304.60310.943.44301971Balance119
2025-05-23304.20311.394.07294837Balance020
2025-05-16304.20311.484.32380491Downward Expansion-117
2025-05-09300.00311.847.18336737Downward Expansion-2523
2025-05-02304.80312.017.61642480Downward Expansion-3020
2025-04-25283.40311.867.38349152Downward Expansion-5538
2025-04-18280.80312.638.41131958Downward Expansion-6047
2025-04-11273.00313.7310.22403112Downward Expansion-6264
2025-04-04267.00314.947.98507602Downward Expansion-7073
2025-03-28269.20315.86-2.70348068Downward Expansion-7267
2025-03-21273.40317.08-3.72564099Downward Expansion-7356
2025-03-14278.40317.92-2.81412959Rotation Down-7049
2025-03-07294.80318.470.60507823Rotation Down-3443
2025-02-28295.00317.88-1.27585052Rotation Down-3764
2025-02-21290.00317.23-1.71663854Rotation Down-2965
2025-02-14286.40317.12-0.71643997Rotation Down-3664
2025-02-07280.60317.02-2.84577297Deceleration-4454
2025-01-31294.00317.412.802083403Deceleration-1623
2025-01-24330.80317.5716.23485090Deceleration2919
2025-01-17335.60316.5120.23575855Deceleration3321
2025-01-10339.00315.8919.84437921Deceleration3625
2025-01-03341.40315.1619.88229383Upward Expansion4329
2024-12-27339.00314.3320.65116951Upward Expansion5944
2024-12-20332.60313.0523.221072800Upward Expansion6352
2024-12-13366.00312.1729.68328926Upward Expansion7587
2024-12-06370.00310.4130.71361903Upward Expansion8490
2024-11-29351.60308.3025.57442545Upward Expansion7283
2024-11-22355.00305.9228.46717285Upward Expansion8284
2024-11-15341.60302.5326.30357542Upward Expansion7573
2024-11-08341.80299.6124.45545274Upward Expansion7664
2024-11-01318.20297.1413.49797501Upward Expansion5734
2024-10-25306.80296.319.57261819Upward Expansion4725
2024-10-18315.00295.5811.80252549Upward Expansion5931
2024-10-11305.00294.578.13422247Upward Expansion4828
2024-10-04300.40293.898.13417843Upward Expansion5139
2024-09-27306.40293.487.78265293Upward Expansion5449
2024-09-20313.80293.268.91738238Balance6554
2024-09-13309.40292.804.54333116Balance5034
2024-09-06294.60292.613.77308035Balance1518
2024-08-30305.80292.585.84371517Balance2416
2024-08-23298.60291.704.31549080Balance69
2024-08-16294.80291.013.03797883Rotation Down-1424
2024-08-09277.20289.00-1.59420910Rotation Down-2739
2024-08-02275.40287.16-2.71426772Deceleration-2930
2024-07-26286.80285.34-0.04279275Deceleration1520
2024-07-19283.40283.30-0.34399487Deceleration1317
2024-07-12292.20281.40-0.54303153Deceleration3518
2024-07-05299.00279.382.42358128Upward Expansion4329
2024-06-28298.80276.923.56492598Upward Expansion5842
2024-06-21317.20274.208.89479975Upward Expansion6653
2024-06-14317.00271.109.16711245Upward Expansion6968
2024-06-07316.40268.406.39518630Upward Expansion7378
2024-05-31300.80264.822.83517182Upward Expansion6173
2024-05-24306.00261.655.05286288Upward Expansion6470
2024-05-17313.40258.896.91654057Deceleration7155
2024-05-10306.60256.217.621013166Deceleration5423
2024-05-03280.20254.250.841183657Deceleration1522
2024-04-26253.20253.76-9.55598292Deceleration-419
2024-04-19254.00254.27-8.58698015Deceleration1617
2024-04-12267.80255.01-4.62541493Deceleration3824
2024-04-05293.20255.133.60478878Deceleration4835
2024-03-29285.00254.19-0.20243825Upward Expansion4535
2024-03-22284.60253.37-0.65458361Upward Expansion5043
2024-03-15284.70252.220.72483528Upward Expansion6355
2024-03-08288.00251.160.32440626Upward Expansion6667
2024-03-01300.00251.646.641626363Rotation Up7187
2024-02-23300.00251.928.461180052Rotation Up4781
2024-02-16303.60252.489.34892530Rotation Up5785
2024-02-09293.80252.756.89971838Rotation Up4775
2024-02-02279.20253.263.231090153Rotation Up4355
2024-01-26278.00253.433.701861968Rotation Up1721
2024-01-19234.40253.58-11.58937084Downward Expansion-4026
2024-01-12222.00254.80-19.37903546Downward Expansion-5537
2024-01-05221.00257.25-19.22773998Downward Expansion-4833
2023-12-29225.60259.44-16.90454585Deceleration-4130
2023-12-22226.30261.34-16.371107919Deceleration-4435
2023-12-15231.60263.64-12.981031449Downward Expansion-4739
2023-12-08225.20264.77-14.63706292Downward Expansion-5947
2023-12-01217.20266.17-17.96904729Downward Expansion-6959
2023-11-24224.20267.75-15.19574256Downward Expansion-6575
2023-11-17236.00268.97-11.291367037Downward Expansion-6786
2023-11-10209.00269.29-18.87607243Downward Expansion-7891
2023-11-03205.70270.68-20.622157939Downward Expansion-8892
2023-10-27223.10271.86-12.64542296Downward Expansion-8484
2023-10-20233.00272.73-9.98567271Deceleration-5362
Price vs TrendAbove+2.5%
Trend directionFalling-0.7%
Price vs current Fair ValuePremium+14.4%
Fair Value directionClosing upward+11.0%
Relative Strength vs benchmarkLeading+1.7%
Relative strength directionImproving+10.3%
Price momentumNegative-4.9%
Volume balanceDemand-led1.93×
Beyond the current label

Is the structure strengthening or losing force?

Direction and energy measure different things

Direction shows the upward or downward lean. Energy shows the force behind the structural move: high energy can accompany a strong decline as well as an advance.

Direction

0 / ±100

+39.8 points since 2026-09-11

Energy

3 /100

-19.0 points since 2026-09-11

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

NETC Directional State ↗ NETC Momentum Intelligence ↗
Comparative structural evidence

Why this architecture regime won

Every regime is evaluated
Balance66
Rotation Up23
Upward Expansion25
Deceleration44
Rotation Down28
Downward Expansion51

The winning regime is the state most consistent with the complete SM evidence set. Direction, energy, maturity and confidence describe different aspects of the current structure, while contradictory evidence remains visible rather than being averaged into false certainty.

Time spent in each state

The context behind today’s regime

2023-10-20 to 2026-10-09 · 156 classified observations out of 156 shown.

Balance 16%Rotation Up 7%Upward Expansion 28%Deceleration 17%Rotation Down 5%Downward Expansion 28%
Recent Trend Architecture ledger
RegimeRecognizedLast observationTenureMove inside regime
Balance2026-09-042026-10-09Developing+5.1%
Downward Expansion2026-07-032026-08-28Developing+2.4%
Balance2026-05-292026-06-26Developing-14.9%
Upward Expansion2026-04-102026-05-22Developing-5.7%
Deceleration2026-02-132026-04-03Developing+29.9%
Upward Expansion2025-12-052026-02-06Developing-4.4%
Rotation Up2025-10-312025-11-28Developing-0.1%
Balance2025-10-172025-10-24New+6.3%
Downward Expansion2025-07-112025-10-10Established+6.4%
Balance2025-05-232025-07-04Developing-12.4%
Downward Expansion2025-03-212025-05-16Developing+11.3%
Rotation Down2025-02-142025-03-14Developing-2.8%
Deceleration2025-01-102025-02-07Developing-17.2%
Upward Expansion2024-09-272025-01-03Established+11.4%
Classic Stage Analysis comparison
Stage 1 · Basing63
Stage 2 · Advancing57
Stage 3 · Distribution55
Stage 4 · Declining43

Legacy result: Stage 4 · Stage 4C · Repair watch. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus ^OMXC25

Is relative performance confirming the geometry?

Confirmation, not classification

Relative Strength

The security is compared with its market benchmark on the SM scale. Above zero indicates relative leadership; direction shows whether that leadership is improving or weakening.

Confirmation evidence

Leading benchmark

Architecture confirmation
63/100
Current Relative Strength
1.69
Relative Strength direction
Improving
Price momentum
-4.9%
Excess performance vs benchmark
-8.8%
Technology regime cohort
50th percentile2 in cohort
Test NETC trend persistence
Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry
Relative volume2.36×

Latest completed volume relative to typical participation.

Up/down volume1.93×

Participation balance between advancing and declining observations.

Accumulation / distribution4 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+50.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationImproving

Current relationship between Fast Activity and Slow Activity.

Structure stability+37.5%

Whether recent Activity evidence is stable or remains in balance.

Weekly volume with architecture context

Bars show completed weekly volume; the dashed line provides typical-volume context. Both measures use the same scale.

Explore NETC Volume & Price ↗
Decision architecture

References that would change the structural read

Evidence levels, not orders
Fast Activity DKK 325.52rising
Slow Activity DKK 325.94falling
Trend Reference DKK 334.31+2.5% close margin
Current Fair Value DKK 299.62+14.4% close margin
Structural low DKK 288.20shock / repair context
What changes the read?

Persistent fast/slow separation and fan expansion would end Balance; direction determines whether it becomes Rotation Up or Rotation Down.

Range context +5.1%
Annualized volatility +36.8%
From structural high -15.2%
From structural low +26.9%
Point-in-time evidence

What followed this architecture in this market?

Descriptive history, never a forecast

Historical comparisons use only the structural read that would have been available at each completed observation. Independent observations are used where possible, with benchmark comparison beginning after each recognized state.

Outcome horizon Samples Median movePositive periodsDirectional follow-through Median excess vs ^OMXC25 Regime survived Read
Near term13-4.1%-15.0% to +14.5%+38.5%+38.5%-3.7%+46.2%Usable descriptive sample
Intermediate7-15.3%-41.2% to +27.1%+28.6%+28.6%-14.3%+0.0%Usable descriptive sample
Extended4-1.8%-51.3% to +1.2%+25.0%+25.0%-3.1%+0.0%Too little matched history
Full cycle3-22.3%-52.5% to -15.2%+0.0%+0.0%-27.5%+0.0%Too little matched history
Evidence framework

What the analysis measures and where its limits lie

Trend Architecture

Trend Architecture brings Price, Fast Activity, Slow Activity and Trend into one structural read. It identifies balance, rotation, expansion, deceleration and contraction while requiring persistent evidence for confirmed regime changes.

Evidence roles

Trend, Activity, relative strength, volume and Fair Value each have a defined role in the SM evidence framework. No single reading is treated as sufficient on its own, and conflicting evidence remains visible.

Fair Value and RS

Current Fair Value provides a long-term price anchor and shows whether price is trading above, below or repairing toward that reference. Relative Strength compares the security with its benchmark and shows whether leadership is improving or weakening.

Known limitations

Weekly structure recognizes conditions after they develop. Event gaps can bypass smooth transitions, sideways markets can rotate repeatedly, and historical samples for a particular regime can be thin.

Independent market research for education. Not investment advice, a recommendation, a forecast, a target, or an execution instruction. Historical regime behaviour does not establish what happens next.

Evidence context