Weekly structural research · MIL · Technology

NRST Stage Analysis

Neurosoft Software Production S.A.

Week ending 9 Oct 2026Close EUR 0.565Tenure NewBenchmark FTSEMIB.MI

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Rotation Down · Supply rotation

The Activity Line structure is rotating downward.

Fast Activity is weakening relative to Slow Activity and price acceptance is deteriorating. Persistent negative Trend confirmation would establish Downward Expansion.

The Trend gate is mixed within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: wide and expanding.

Direction -52−100 bearish to +100 bullish

Energy 75/100directional strength

Maturity 15/100lifecycle context

Confidence 81/100evidence agreement

Trend gate Mixedstructural direction

Activity structure Wideexpanding separation

Price acceptance -33.3%position within the Activity structure

Fair Value context -11.4%EUR 0.6375 · weakening

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

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-09	0.565	0.6182	-15.64	7000	Rotation Down	-52	75
2026-10-02	0.575	0.6198	-16.06	0	Rotation Down	-46	71
2026-09-25	0.575	0.6213	-18.93	11000	Rotation Down	-43	42
2026-09-18	0.595	0.6215	-16.42	107000	Rotation Down	-12	8
2026-09-11	0.655	0.6215	-10.58	2000	Deceleration	81	77
2026-09-04	0.655	0.6207	-10.61	0	Deceleration	60	31
2026-08-28	0.63	0.62	-15.60	0	Deceleration	11	28
2026-08-21	0.63	0.6203	-16.59	1000	Deceleration	24	27
2026-08-14	0.615	0.6242	-20.63	7000	Deceleration	8	24
2026-08-07	0.64	0.626	-17.99	0	Deceleration	41	30
2026-07-31	0.64	0.629	-15.96	5000	Rotation Up	18	25
2026-07-24	0.63	0.6303	-17.22	4000	Rotation Up	24	37
2026-07-17	0.645	0.6323	-15.86	5000	Rotation Up	38	56
2026-07-10	0.655	0.6338	-16.28	0	Rotation Up	48	75
2026-07-03	0.655	0.635	-17.23	0	Rotation Up	42	74
2026-06-26	0.645	0.6355	-16.60	1000	Rotation Up	30	71
2026-06-19	0.645	0.636	-19.52	0	Rotation Up	31	69
2026-06-12	0.645	0.6365	-18.15	1000	Rotation Up	34	53
2026-06-05	0.655	0.6377	-14.93	0	Downward Expansion	23	38
2026-05-29	0.645	0.6387	-17.15	16000	Downward Expansion	-5	18
2026-05-22	0.60	0.6408	-22.72	10000	Downward Expansion	-47	43
2026-05-15	0.60	0.6442	-23.08	3000	Downward Expansion	-61	64
2026-05-08	0.60	0.6475	-23.55	2000	Downward Expansion	-65	78
2026-05-01	0.58	0.6512	-24.54	0	Downward Expansion	-71	82
2026-04-24	0.58	0.6562	-23.65	9000	Downward Expansion	-68	64
2026-04-17	0.585	0.6627	-24.96	5000	Downward Expansion	-64	44
2026-04-10	0.60	0.6695	-21.08	3000	Downward Expansion	-56	38
2026-04-03	0.595	0.6757	-18.49	10000	Downward Expansion	-59	39
2026-03-27	0.61	0.6822	-12.30	3000	Downward Expansion	-55	37
2026-03-20	0.60	0.69	-12.56	9000	Downward Expansion	-62	47
2026-03-13	0.615	0.6962	-13.26	10000	Downward Expansion	-61	62
2026-03-06	0.62	0.697	-12.10	41000	Downward Expansion	-64	73
2026-02-27	0.58	0.6978	-23.00	1000	Downward Expansion	-77	82
2026-02-20	0.595	0.7013	-19.87	21000	Downward Expansion	-78	78
2026-02-13	0.63	0.704	-13.31	9000	Downward Expansion	-65	57
2026-02-06	0.635	0.7063	-13.55	25000	Downward Expansion	-67	39
2026-01-30	0.64	0.7095	-12.35	142000	Downward Expansion	-53	22
2026-01-23	0.745	0.7117	3.42	39000	Downward Expansion	7	13
2026-01-16	0.67	0.709	-8.86	42000	Downward Expansion	-46	22
2026-01-09	0.73	0.712	-0.66	20000	Downward Expansion	-8	16
2026-01-02	0.68	0.713	-6.98	30000	Downward Expansion	-42	30
2025-12-26	0.69	0.717	-4.08	0	Downward Expansion	-43	37
2025-12-19	0.69	0.7197	-4.44	0	Downward Expansion	-56	48
2025-12-12	0.69	0.7263	-1.76	7000	Downward Expansion	-59	59
2025-12-05	0.67	0.7228	-4.41	4000	Downward Expansion	-59	62
2025-11-28	0.66	0.7171	-5.70	8000	Balance	-64	61
2025-11-21	0.66	0.711	-4.37	1000	Balance	-38	42
2025-11-14	0.68	0.705	-4.56	16000	Balance	-20	23
2025-11-07	0.685	0.6976	-1.52	25000	Balance	-0	13
2025-10-31	0.71	0.6909	1.44	55000	Balance	7	15
2025-10-24	0.70	0.6844	1.60	10000	Balance	13	19
2025-10-17	0.70	0.6781	3.31	12000	Balance	16	16
2025-10-10	0.71	0.6718	4.07	22000	Upward Expansion	29	15
2025-10-03	0.73	0.6644	3.95	15000	Upward Expansion	50	30
2025-09-26	0.775	0.6568	11.83	176000	Upward Expansion	56	43
2025-09-19	0.79	0.6483	15.08	218000	Upward Expansion	58	69
2025-09-12	0.785	0.6396	13.79	83000	Upward Expansion	58	73
2025-09-05	0.79	0.6319	17.14	97000	Upward Expansion	63	72
2025-08-29	0.845	0.6244	23.59	61000	Deceleration	76	64
2025-08-22	0.785	0.6153	12.04	284000	Deceleration	53	25
2025-08-15	0.64	0.6081	-7.35	27000	Deceleration	11	14
2025-08-08	0.645	0.6058	-4.72	14000	Deceleration	28	18
2025-08-01	0.685	0.6053	5.03	5000	Deceleration	35	20
2025-07-25	0.675	0.6004	1.30	55000	Deceleration	37	24
2025-07-18	0.70	0.5959	5.98	43000	Deceleration	38	25
2025-07-11	0.73	0.5904	11.07	26000	Deceleration	43	32
2025-07-04	0.705	0.5843	8.50	11000	Upward Expansion	47	38
2025-06-27	0.665	0.5789	2.00	25000	Upward Expansion	62	53
2025-06-20	0.76	0.5758	17.84	34000	Upward Expansion	66	75
2025-06-13	0.76	0.5688	17.26	36000	Upward Expansion	67	88
2025-06-06	0.80	0.5618	19.85	85000	Upward Expansion	80	88
2025-05-30	0.77	0.5533	17.01	344000	Rotation Up	84	74
2025-05-23	0.89	0.5469	37.42	818000	Rotation Up	64	65
2025-05-16	0.585	0.5369	-11.96	114000	Rotation Up	-2	15
2025-05-09	0.498	0.5371	-23.04	11000	Downward Expansion	-64	74
2025-05-02	0.478	0.5403	-24.69	0	Downward Expansion	-65	86
2025-04-25	0.478	0.5442	-23.37	10000	Downward Expansion	-70	87
2025-04-18	0.46	0.5478	-24.11	11000	Downward Expansion	-92	94
2025-04-11	0.484	0.5525	-16.17	12000	Downward Expansion	-82	65
2025-04-04	0.515	0.557	-12.86	16000	Downward Expansion	-62	54
2025-03-28	0.51	0.5607	-23.16	0	Downward Expansion	-65	80
2025-03-21	0.51	0.565	-24.19	16000	Downward Expansion	-67	84
2025-03-14	0.49	0.5693	-26.90	16000	Downward Expansion	-85	91
2025-03-07	0.50	0.5735	-25.81	17000	Downward Expansion	-85	87
2025-02-28	0.52	0.5768	-23.57	7000	Downward Expansion	-75	72
2025-02-21	0.53	0.5797	-22.23	9000	Balance	-58	46
2025-02-14	0.555	0.582	-18.16	4000	Balance	-38	20
2025-02-07	0.565	0.5842	-15.12	31000	Balance	-15	9
2025-01-31	0.57	0.5863	-13.51	0	Balance	-10	20
2025-01-24	0.57	0.5878	-13.43	11000	Balance	-23	22
2025-01-17	0.57	0.5893	-14.14	12000	Rotation Up	-28	21
2025-01-10	0.63	0.5915	-2.60	52000	Rotation Up	-7	10
2025-01-03	0.54	0.5918	-14.64	0	Downward Expansion	-64	66
2024-12-27	0.54	0.5952	-15.44	1000	Downward Expansion	-68	60
2024-12-20	0.535	0.5987	-15.80	9000	Downward Expansion	-75	59
2024-12-13	0.545	0.603	-17.52	0	Downward Expansion	-71	57
2024-12-06	0.545	0.6075	-17.75	22000	Downward Expansion	-74	60
2024-11-29	0.57	0.6113	-11.13	28000	Downward Expansion	-67	62
2024-11-22	0.55	0.6147	-15.01	12000	Downward Expansion	-78	91
2024-11-15	0.55	0.6195	-17.22	19000	Downward Expansion	-86	92
2024-11-08	0.545	0.6227	-17.61	34000	Downward Expansion	-96	96
2024-11-01	0.58	0.6258	-15.21	8000	Downward Expansion	-84	90
2024-10-25	0.59	0.6278	-14.65	2000	Downward Expansion	-68	75
2024-10-18	0.59	0.6295	-16.36	1000	Downward Expansion	-70	80
2024-10-11	0.595	0.6312	-14.29	0	Downward Expansion	-66	78
2024-10-04	0.595	0.6328	-13.20	2000	Downward Expansion	-66	74
2024-09-27	0.585	0.6353	-18.16	27000	Downward Expansion	-79	70
2024-09-20	0.60	0.6385	-14.52	19000	Downward Expansion	-67	33
2024-09-13	0.62	0.6402	-11.91	2000	Downward Expansion	-28	27
2024-09-06	0.625	0.6408	-11.38	3000	Downward Expansion	-26	27
2024-08-30	0.64	0.6417	-13.06	0	Downward Expansion	-25	21
2024-08-23	0.64	0.6427	-11.82	18000	Downward Expansion	-38	32
2024-08-16	0.615	0.6433	-14.20	5000	Downward Expansion	-64	74
2024-08-09	0.60	0.6455	-13.53	4000	Downward Expansion	-75	82
2024-08-02	0.605	0.6492	-13.96	33000	Downward Expansion	-71	71
2024-07-26	0.60	0.6533	-19.64	16000	Downward Expansion	-83	82
2024-07-19	0.62	0.6558	-18.51	7000	Downward Expansion	-64	62
2024-07-12	0.63	0.6577	-18.61	4000	Downward Expansion	-61	62
2024-07-05	0.615	0.6592	-19.70	1000	Downward Expansion	-73	73
2024-06-28	0.615	0.6613	-18.29	15000	Downward Expansion	-75	72
2024-06-21	0.635	0.6643	-16.58	1000	Balance	-61	59
2024-06-14	0.64	0.665	-14.84	22000	Balance	-48	40
2024-06-07	0.64	0.666	-20.17	8000	Balance	-45	26
2024-05-31	0.645	0.6682	-19.70	8000	Balance	-36	15
2024-05-24	0.665	0.6702	-17.74	6000	Balance	10	12
2024-05-17	0.68	0.671	-18.53	6000	Balance	18	22
2024-05-10	0.66	0.673	-19.72	29000	Downward Expansion	-22	19
2024-05-03	0.67	0.6757	-16.42	17000	Downward Expansion	-22	16
2024-04-26	0.695	0.6783	-15.23	123000	Downward Expansion	-13	8
2024-04-19	0.645	0.6812	-20.92	42000	Downward Expansion	-57	47
2024-04-12	0.64	0.6853	-21.56	1000	Downward Expansion	-61	61
2024-04-05	0.64	0.6927	-22.60	0	Downward Expansion	-59	53
2024-03-29	0.64	0.7003	-24.64	0	Downward Expansion	-59	37
2024-03-22	0.64	0.7043	-24.08	9000	Downward Expansion	-60	33
2024-03-15	0.645	0.707	-23.02	29000	Downward Expansion	-58	30
2024-03-08	0.67	0.7095	-19.02	38000	Downward Expansion	-51	30
2024-03-01	0.68	0.7112	-17.00	205000	Downward Expansion	-56	41
2024-02-23	0.65	0.7125	-20.11	9000	Downward Expansion	-61	61
2024-02-16	0.64	0.7162	-19.03	30000	Downward Expansion	-68	65
2024-02-09	0.65	0.7197	-16.30	14000	Downward Expansion	-64	53
2024-02-02	0.67	0.7228	-12.57	18000	Downward Expansion	-56	35
2024-01-26	0.66	0.7253	-12.93	61000	Downward Expansion	-62	28
2024-01-19	0.68	0.7282	-10.12	17000	Downward Expansion	-42	21
2024-01-12	0.71	0.7302	-6.76	142000	Downward Expansion	-36	20
2024-01-05	0.73	0.7307	-4.06	89000	Downward Expansion	-34	25
2023-12-29	0.675	0.7303	-11.07	1000	Downward Expansion	-64	67
2023-12-22	0.675	0.7318	-11.29	105000	Downward Expansion	-62	54
2023-12-15	0.675	0.733	-11.59	19000	Downward Expansion	-64	60
2023-12-08	0.68	0.735	-11.32	1000	Downward Expansion	-63	60
2023-12-01	0.705	0.7352	-6.94	11000	Rotation Down	-59	48
2023-11-24	0.655	0.7345	-12.35	13000	Rotation Down	-44	55
2023-11-17	0.67	0.736	-10.91	33000	Rotation Down	-43	52
2023-11-10	0.705	0.7372	-3.30	0	Rotation Down	-24	38
2023-11-03	0.705	0.7383	-4.11	4000	Balance	-24	29
2023-10-27	0.69	0.7378	-1.81	58000	Balance	-30	29
2023-10-20	0.74	0.7365	4.67	0	Upward Expansion	17	18

Price vs TrendBelow-8.6%

Trend directionFalling-1.7%

Price vs current Fair ValueBelow anchor-11.4%

Fair Value directionMoving away-12.2%

Relative Strength vs benchmarkLagging-15.6%

Relative strength directionImproving+0.6%

Price momentumNegative-5.8%

Volume balanceSupply-led0.04×

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

-52 / ±100

-133.0 points since 2026-09-11

Energy

75 /100

-1.7 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.

NRST Directional State ↗ NRST Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance26

Rotation Up21

Upward Expansion29

Deceleration39

Rotation Down76

Downward Expansion64

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 13%Rotation Up 8%Upward Expansion 8%Deceleration 9%Rotation Down 5%Downward Expansion 57%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Rotation Down	2026-09-18	2026-10-09	New	-5.0%
Deceleration	2026-08-07	2026-09-11	Developing	+2.3%
Rotation Up	2026-06-12	2026-07-31	Developing	-0.8%
Downward Expansion	2025-12-05	2026-06-05	Extended	-2.2%
Balance	2025-10-17	2025-11-28	Developing	-5.7%
Upward Expansion	2025-09-05	2025-10-10	Developing	-10.1%
Deceleration	2025-07-11	2025-08-29	Developing	+15.8%
Upward Expansion	2025-06-06	2025-07-04	Developing	-11.9%
Rotation Up	2025-05-16	2025-05-30	New	+31.6%
Downward Expansion	2025-02-28	2025-05-09	Developing	-4.2%
Balance	2025-01-24	2025-02-21	Developing	-7.0%
Rotation Up	2025-01-10	2025-01-17	New	-9.5%
Downward Expansion	2024-06-28	2025-01-03	Extended	-12.2%
Balance	2024-05-17	2024-06-21	Developing	-6.6%

Classic Stage Analysis comparison

Stage 1 · Basing59

Stage 2 · Advancing0

Stage 3 · Distribution36

Stage 4 · Declining100

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

Leadership versus FTSEMIB.MI

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

Lagging benchmark

Architecture confirmation: 99/100
Current Relative Strength: -15.64
Relative Strength direction: Improving
Price momentum: -5.8%
Excess performance vs benchmark: -10.3%
Technology regime cohort: 33th percentile3 in cohort

Test NRST trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.84×

Latest completed volume relative to typical participation.

Up/down volume0.04×

Participation balance between advancing and declining observations.

Accumulation / distribution0 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+25.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+75.0%

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 NRST Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity EUR 0.5797falling

Slow Activity EUR 0.6204falling

Trend Reference EUR 0.6182-8.6% close margin

Current Fair Value EUR 0.6375-11.4% close margin

Structural low EUR 0.545shock / repair context

What changes the read?

Complete bearish ordering below the Trend Line confirms Downward Expansion; a repaired fast/slow cross and upside acceptance cancel the failure.

Range context +3.7%

Annualized volatility +21.5%

From structural high -28.9%

From structural low +3.7%

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 move	Positive periods	Directional follow-through	Median excess vs FTSEMIB.MI	Regime survived	Read
Near term	5	-2.5%-8.8% to +12.1%	+40.0%	+60.0%	-5.8%	+40.0%	Usable descriptive sample
Intermediate	3	-7.8%-30.2% to +15.1%	+33.3%	+66.7%	-16.4%	+0.0%	Too little matched history
Extended	3	-6.4%-16.5% to +21.0%	+33.3%	+66.7%	-0.9%	+0.0%	Too little matched history
Full cycle	2	-7.4%-27.5% to +12.6%	+50.0%	+50.0%	-9.8%	+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.

NRST Stage Analysis

What the Activity Line geometry says now

The Activity Line structure is rotating downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Send a message

Evidence context

What the Activity Line geometry says now

The Activity Line structure is rotating downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength ?

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

Test the structure from another angle

Trend Persistence ↗

Directional State ↗

Momentum Intelligence ↗

Similar Charts ↗

RMI Reversal Map ↗

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Relative Strength

Trend Persistence

Directional State

Momentum Intelligence

Similar Charts

RMI Reversal Map