Weekly structural research · MIL · Technology

BEC Stage Analysis

B&C Speakers S.p.A.

Week ending 9 Oct 2026Close EUR 10.90Tenure DevelopingBenchmark FTSEMIB.MI

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: weakening.
Activity structure: compressed and expanding.

Direction -57−100 bearish to +100 bullish

Energy 45/100directional strength

Maturity 20/100lifecycle context

Confidence 85/100evidence agreement

Trend gate Downstructural direction

Activity structure Compressedexpanding separation

Price acceptance -50.0%position within the Activity structure

Fair Value context -20.7%EUR 13.75 · 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	10.90	11.25	-16.05	49982	Balance	-57	45
2026-10-02	10.95	11.30	-17.69	46886	Balance	-45	28
2026-09-25	11.05	11.35	-19.97	72039	Balance	-42	23
2026-09-18	11.20	11.42	-19.15	97927	Balance	-30	15
2026-09-11	11.40	11.48	-20.12	137452	Balance	-21	11
2026-09-04	11.30	11.54	-21.23	6031	Balance	-12	9
2026-08-28	11.45	11.60	-22.08	9216	Balance	-8	20
2026-08-21	11.20	11.65	-24.96	7893	Balance	-14	20
2026-08-14	11.60	11.73	-24.55	9758	Balance	-5	16
2026-08-07	12.10	11.81	-22.43	48339	Downward Expansion	-3	7
2026-07-31	11.10	11.88	-27.52	28585	Downward Expansion	-52	33
2026-07-24	10.90	11.99	-29.13	26620	Downward Expansion	-60	39
2026-07-17	11.00	12.10	-29.38	1591	Downward Expansion	-55	38
2026-07-10	11.10	12.21	-30.46	7038	Downward Expansion	-54	37
2026-07-03	11.05	12.31	-31.77	26732	Downward Expansion	-54	38
2026-06-26	11.00	12.42	-30.80	20571	Downward Expansion	-59	45
2026-06-19	11.05	12.52	-33.24	23184	Downward Expansion	-58	41
2026-06-12	11.25	12.62	-30.96	29068	Downward Expansion	-54	37
2026-06-05	10.80	12.73	-32.28	5273	Downward Expansion	-68	46
2026-05-29	11.40	12.84	-29.41	56140	Downward Expansion	-55	39
2026-05-22	11.40	12.94	-29.33	88648	Downward Expansion	-56	41
2026-05-15	11.10	13.05	-31.24	208128	Downward Expansion	-66	46
2026-05-08	11.40	13.16	-30.22	149730	Downward Expansion	-51	39
2026-05-01	11.55	13.27	-28.32	156683	Downward Expansion	-59	46
2026-04-24	11.60	13.40	-27.62	114804	Downward Expansion	-62	55
2026-04-17	11.88	13.50	-28.15	89950	Downward Expansion	-65	62
2026-04-10	11.31	13.64	-30.21	76761	Downward Expansion	-68	85
2026-04-03	11.17	13.83	-28.70	73250	Downward Expansion	-78	89
2026-03-27	11.08	14.04	-26.23	71484	Downward Expansion	-89	92
2026-03-20	11.17	14.28	-25.12	123959	Downward Expansion	-94	86
2026-03-13	12.49	14.48	-19.41	23957	Downward Expansion	-78	67
2026-03-06	12.54	14.63	-19.08	44193	Downward Expansion	-82	77
2026-02-27	13.06	14.75	-21.51	42480	Downward Expansion	-67	76
2026-02-20	13.06	14.83	-20.63	52741	Downward Expansion	-68	83
2026-02-13	13.20	14.91	-18.32	69752	Downward Expansion	-67	84
2026-02-06	12.87	14.98	-21.47	80618	Downward Expansion	-82	86
2026-01-30	13.15	15.06	-19.58	113013	Downward Expansion	-79	77
2026-01-23	13.39	15.13	-17.29	55784	Downward Expansion	-76	57
2026-01-16	14.10	15.18	-15.16	27883	Downward Expansion	-57	38
2026-01-09	14.10	15.21	-15.35	57001	Downward Expansion	-48	33
2026-01-02	14.43	15.24	-13.15	13444	Downward Expansion	-42	30
2025-12-26	14.28	15.28	-13.06	12628	Downward Expansion	-45	34
2025-12-19	14.33	15.32	-13.58	35882	Downward Expansion	-57	45
2025-12-12	14.19	15.34	-12.41	9331	Downward Expansion	-59	50
2025-12-05	14.28	15.37	-12.02	97152	Downward Expansion	-61	51
2025-11-28	13.91	15.37	-14.60	81770	Rotation Down	-70	63
2025-11-21	14.24	15.36	-11.70	32001	Rotation Down	-37	40
2025-11-14	14.33	15.33	-14.20	128216	Rotation Down	-36	41
2025-11-07	14.24	15.28	-13.11	7057	Rotation Down	-40	52
2025-10-31	14.33	15.24	-13.63	17524	Rotation Down	-32	51
2025-10-24	14.61	15.21	-11.02	14200	Rotation Down	-26	43
2025-10-17	14.47	15.20	-10.72	49029	Deceleration	-31	38
2025-10-10	14.71	15.15	-10.17	33239	Deceleration	-9	28
2025-10-03	15.46	15.11	-8.51	23327	Deceleration	17	24
2025-09-26	14.71	15.05	-11.92	73218	Upward Expansion	15	15
2025-09-19	15.84	15.03	-4.58	96451	Upward Expansion	60	48
2025-09-12	17.16	14.97	2.67	54901	Upward Expansion	66	71
2025-09-05	17.54	14.87	7.41	48306	Upward Expansion	70	86
2025-08-29	18.15	14.76	9.82	103866	Upward Expansion	89	93
2025-08-22	17.16	14.62	1.45	30491	Upward Expansion	83	88
2025-08-15	16.97	14.51	1.89	33758	Upward Expansion	86	83
2025-08-08	16.17	14.41	-0.50	22527	Upward Expansion	75	63
2025-08-01	15.51	14.34	-0.66	24512	Upward Expansion	60	44
2025-07-25	15.56	14.32	-2.46	9708	Upward Expansion	63	46
2025-07-18	15.18	14.30	-3.92	46168	Upward Expansion	53	35
2025-07-11	15.18	14.26	-3.51	6427	Upward Expansion	55	35
2025-07-04	15.46	14.22	-0.74	28048	Upward Expansion	64	39
2025-06-27	14.94	14.20	-4.50	17305	Upward Expansion	56	38
2025-06-20	14.80	14.19	-4.32	24093	Upward Expansion	60	54
2025-06-13	15.18	14.17	-2.59	31780	Rotation Up	63	70
2025-06-06	15.37	14.16	-4.47	56237	Rotation Up	41	65
2025-05-30	15.51	14.17	-2.58	47198	Rotation Up	39	54
2025-05-23	14.94	14.17	-4.89	178239	Rotation Up	29	35
2025-05-16	15.13	14.17	-6.74	44505	Downward Expansion	32	28
2025-05-09	14.28	14.15	-9.27	74974	Downward Expansion	-22	14
2025-05-02	13.62	14.15	-11.33	52851	Downward Expansion	-55	40
2025-04-25	13.23	14.15	-11.95	22563	Downward Expansion	-59	55
2025-04-18	12.83	14.15	-11.62	38628	Downward Expansion	-74	52
2025-04-11	13.23	14.16	-3.97	35941	Downward Expansion	-66	44
2025-04-04	13.45	14.16	-4.36	22858	Downward Expansion	-63	55
2025-03-28	14.11	14.14	-10.39	38220	Rotation Down	-57	56
2025-03-21	13.23	14.09	-16.88	53979	Rotation Down	-45	59
2025-03-14	13.32	14.09	-15.85	23803	Deceleration	-46	51
2025-03-07	13.76	14.08	-13.33	13507	Deceleration	-33	26
2025-02-28	14.02	14.06	-12.15	20549	Deceleration	4	7
2025-02-21	14.11	14.05	-11.43	9579	Deceleration	7	11
2025-02-14	14.07	14.03	-10.97	28050	Deceleration	4	16
2025-02-07	14.24	14.02	-7.94	25107	Deceleration	7	17
2025-01-31	14.02	14.02	-8.18	10654	Deceleration	6	14
2025-01-24	13.98	14.03	-8.12	22231	Deceleration	6	8
2025-01-17	13.93	14.02	-8.97	51162	Deceleration	8	6
2025-01-10	14.15	14.02	-4.92	18534	Deceleration	25	12
2025-01-03	14.90	14.03	2.41	5186	Deceleration	39	18
2024-12-27	14.81	14.02	1.48	20423	Deceleration	34	19
2024-12-20	13.93	14.03	-3.78	9654	Deceleration	20	16
2024-12-13	14.11	14.06	-5.94	32609	Deceleration	31	21
2024-12-06	14.64	14.08	-2.35	30897	Rotation Up	39	22
2024-11-29	14.81	14.07	2.58	187024	Rotation Up	56	37
2024-11-22	14.20	14.05	-1.95	19260	Rotation Up	34	39
2024-11-15	14.86	14.06	0.38	62789	Rotation Up	39	68
2024-11-08	15.74	14.04	7.42	21651	Rotation Up	57	81
2024-11-01	15.56	14.01	3.56	38529	Rotation Up	49	72
2024-10-25	14.90	13.97	-1.14	44617	Rotation Up	40	54
2024-10-18	14.42	13.97	-5.73	13072	Downward Expansion	30	33
2024-10-11	14.29	13.98	-4.48	26710	Downward Expansion	-4	15
2024-10-04	13.54	14.00	-7.83	18563	Downward Expansion	-37	21
2024-09-27	13.36	14.04	-12.32	49260	Downward Expansion	-43	30
2024-09-20	13.18	14.10	-11.39	17217	Downward Expansion	-56	41
2024-09-13	13.10	14.13	-11.74	50446	Downward Expansion	-59	45
2024-09-06	12.79	14.17	-13.33	16687	Downward Expansion	-67	65
2024-08-30	12.79	14.21	-16.29	18478	Downward Expansion	-72	70
2024-08-23	13.23	14.26	-11.82	16234	Downward Expansion	-62	65
2024-08-16	13.05	14.30	-11.69	4670	Downward Expansion	-70	70
2024-08-09	13.10	14.37	-8.08	11458	Downward Expansion	-71	63
2024-08-02	13.62	14.46	-5.27	11027	Downward Expansion	-61	47
2024-07-26	13.49	14.50	-11.32	16899	Downward Expansion	-65	39
2024-07-19	13.93	14.57	-9.58	16441	Downward Expansion	-56	47
2024-07-12	14.24	14.58	-8.63	16368	Downward Expansion	-52	49
2024-07-05	14.33	14.59	-6.53	17392	Downward Expansion	-51	47
2024-06-28	13.49	14.58	-9.88	88280	Balance	-68	56
2024-06-21	13.93	14.58	-7.43	7187	Balance	-30	22
2024-06-14	14.42	14.56	-2.49	13702	Balance	25	17
2024-06-07	14.77	14.53	-5.86	2539	Deceleration	44	27
2024-05-31	14.95	14.48	-4.41	19477	Deceleration	48	25
2024-05-24	14.99	14.42	-4.23	43574	Deceleration	38	15
2024-05-17	14.55	14.35	-9.58	27643	Deceleration	11	10
2024-05-10	14.42	14.31	-8.61	6362	Deceleration	8	12
2024-05-03	14.29	14.28	-6.81	11212	Deceleration	7	8
2024-04-26	14.37	14.26	-8.01	6695	Deceleration	10	8
2024-04-19	14.41	14.23	-6.91	20270	Deceleration	27	12
2024-04-12	14.88	14.19	-3.46	7554	Deceleration	51	24
2024-04-05	14.37	14.13	-7.32	13187	Deceleration	34	21
2024-03-29	14.88	14.07	-6.14	5642	Deceleration	52	38
2024-03-22	14.67	14.00	-6.40	11799	Deceleration	48	31
2024-03-15	15.00	13.96	-3.10	11579	Deceleration	53	31
2024-03-08	14.75	13.87	-3.11	4849	Deceleration	47	23
2024-03-01	14.88	13.81	-0.66	12446	Deceleration	37	18
2024-02-23	14.37	13.76	-3.14	20917	Deceleration	25	19
2024-02-16	14.16	13.69	-1.53	10185	Deceleration	27	21
2024-02-09	13.99	13.63	-0.76	14086	Upward Expansion	33	19
2024-02-02	14.24	13.57	2.75	37455	Upward Expansion	44	31
2024-01-26	14.58	13.51	6.63	17335	Upward Expansion	59	45
2024-01-19	15.05	13.42	10.71	21007	Upward Expansion	64	62
2024-01-12	15.76	13.34	15.70	39589	Upward Expansion	80	76
2024-01-05	14.84	13.23	9.45	30380	Upward Expansion	65	71
2023-12-29	15.51	13.15	15.20	26947	Upward Expansion	87	83
2023-12-22	14.29	13.05	6.46	17712	Upward Expansion	69	71
2023-12-15	14.54	12.99	8.49	13024	Upward Expansion	80	70
2023-12-08	14.07	12.91	5.11	11504	Upward Expansion	69	51
2023-12-01	13.44	12.85	2.14	18060	Deceleration	52	33
2023-11-24	13.40	12.80	3.69	15052	Deceleration	50	26
2023-11-17	13.44	12.75	3.87	26177	Deceleration	41	20
2023-11-10	13.40	12.70	7.33	7225	Upward Expansion	41	19
2023-11-03	13.02	12.63	3.96	21223	Upward Expansion	37	19
2023-10-27	13.06	12.59	9.89	8905	Upward Expansion	51	29
2023-10-20	13.31	12.55	12.16	19186	Upward Expansion	56	44

Price vs TrendBelow-3.1%

Trend directionFalling-5.3%

Price vs current Fair ValueBelow anchor-20.7%

Fair Value directionMoving away-0.6%

Relative Strength vs benchmarkLagging-16.1%

Relative strength directionImproving+14.4%

Price momentumNegative-3.7%

Volume balanceSupply-led0.70×

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

-57 / ±100

-35.8 points since 2026-09-11

Energy

45 /100

+33.4 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.

BEC Directional State ↗ BEC Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance32

Rotation Up13

Upward Expansion9

Deceleration40

Rotation Down63

Downward Expansion80

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 8%Rotation Up 7%Upward Expansion 19%Deceleration 24%Rotation Down 5%Downward Expansion 38%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Balance	2026-08-14	2026-10-09	Developing	-6.0%
Downward Expansion	2025-12-05	2026-08-07	Extended	-15.3%
Rotation Down	2025-10-24	2025-11-28	Developing	-4.8%
Deceleration	2025-10-03	2025-10-17	New	-6.4%
Upward Expansion	2025-06-20	2025-09-26	Established	-0.6%
Rotation Up	2025-05-23	2025-06-13	New	+1.6%
Downward Expansion	2025-04-04	2025-05-16	Developing	+12.5%
Rotation Down	2025-03-21	2025-03-28	New	+6.7%
Deceleration	2024-12-13	2025-03-14	Established	-5.6%
Rotation Up	2024-10-25	2024-12-06	Developing	-1.8%
Downward Expansion	2024-07-05	2024-10-18	Established	+0.6%
Balance	2024-06-14	2024-06-28	New	-6.4%
Deceleration	2024-02-16	2024-06-07	Established	+4.3%
Upward Expansion	2023-12-08	2024-02-09	Developing	-0.6%

Classic Stage Analysis comparison

Stage 1 · Basing69

Stage 2 · Advancing3

Stage 3 · Distribution17

Stage 4 · Declining97

Legacy result: Stage 4 · Stage 4B · Declining. 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: 91/100
Current Relative Strength: -16.05
Relative Strength direction: Improving
Price momentum: -3.7%
Excess performance vs benchmark: -8.2%
Technology regime cohort: 100th percentile2 in cohort

Test BEC trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.41×

Latest completed volume relative to typical participation.

Up/down volume0.70×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 4

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+25.0%

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 BEC Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity EUR 11.02falling

Slow Activity EUR 11.22falling

Trend Reference EUR 11.25-3.1% close margin

Current Fair Value EUR 13.75-20.7% close margin

Structural low EUR 10.35shock / 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 +4.2%

Annualized volatility +20.9%

From structural high -27.7%

From structural low +5.3%

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	11	-1.5%-11.3% to +6.6%	+18.2%	+18.2%	+0.3%	+63.6%	Usable descriptive sample
Intermediate	5	-1.5%-9.4% to +11.0%	+20.0%	+20.0%	-3.1%	+40.0%	Usable descriptive sample
Extended	3	-2.1%-10.8% to +18.5%	+33.3%	+33.3%	-0.8%	+33.3%	Too little matched history
Full cycle	2	+5.5%+5.3% to +5.7%	+100.0%	+100.0%	-5.5%	+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.

BEC Stage Analysis

What the Activity Line geometry says now

Directional pressure has compressed into balance.

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

Directional pressure has compressed into balance.

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 ↗

Volume & Price ↗

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

Volume & Price

Similar Charts

RMI Reversal Map