Weekly structural research · ASX · Industrials

VRS Stage Analysis

Veris Limited

Week ending 9 Oct 2026Close AUD 0.043Tenure DevelopingBenchmark ^AXJO

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Downward Expansion · Early contraction

The weekly architecture is expanding downward.

Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation.

The Trend gate is down within the current regime.
Fast Activity versus Slow Activity: improving.
Activity structure: wide and contracting.

Direction -67−100 bearish to +100 bullish

Energy 52/100directional strength

Maturity 47/100lifecycle context

Confidence 91/100evidence agreement

Trend gate Downstructural direction

Activity structure Widecontracting separation

Price acceptance -50.0%position within the Activity structure

Fair Value context -23.2%AUD 0.056 · 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.
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	0.043	0.0534	-28.32	3692630	Downward Expansion	-67	52
2026-10-02	0.047	0.0539	-22.00	770300	Downward Expansion	-62	53
2026-09-25	0.046	0.0542	-24.12	765584	Downward Expansion	-64	70
2026-09-18	0.0405	0.0548	-34.22	990724	Downward Expansion	-80	88
2026-09-11	0.042	0.0557	-32.54	1784316	Downward Expansion	-84	89
2026-09-04	0.048	0.0566	-25.79	0	Downward Expansion	-64	77
2026-08-28	0.043	0.0573	-34.56	202954	Downward Expansion	-84	81
2026-08-21	0.05	0.0582	-24.27	368555	Balance	-68	59
2026-08-14	0.051	0.0589	-23.59	300091	Balance	-64	30
2026-08-07	0.055	0.0596	-19.35	0	Balance	-47	19
2026-07-31	0.057	0.0602	-14.02	14853	Balance	-21	12
2026-07-24	0.061	0.0607	-6.08	0	Balance	-9	6
2026-07-17	0.054	0.0612	-17.19	3379	Downward Expansion	-57	36
2026-07-10	0.054	0.0619	-17.34	67858	Downward Expansion	-46	28
2026-07-03	0.06	0.0625	-8.69	58945	Downward Expansion	-20	17
2026-06-26	0.054	0.063	-17.02	125408	Downward Expansion	-57	25
2026-06-19	0.056	0.0635	-14.60	0	Downward Expansion	-38	21
2026-06-12	0.056	0.0638	-14.22	1757	Downward Expansion	-39	18
2026-06-05	0.065	0.0644	1.80	605606	Downward Expansion	-19	14
2026-05-29	0.058	0.0647	-9.76	583877	Downward Expansion	-52	33
2026-05-22	0.053	0.0652	-16.59	260373	Downward Expansion	-62	40
2026-05-15	0.053	0.066	-16.14	1207369	Downward Expansion	-67	42
2026-05-08	0.059	0.0667	-7.65	637575	Downward Expansion	-46	34
2026-05-01	0.058	0.0671	-8.72	158160	Downward Expansion	-60	46
2026-04-24	0.054	0.0676	-15.34	964267	Downward Expansion	-68	57
2026-04-17	0.057	0.0682	-12.23	667249	Downward Expansion	-64	58
2026-04-10	0.055	0.0688	-15.41	937193	Downward Expansion	-72	62
2026-04-03	0.055	0.0693	-11.75	45950	Downward Expansion	-76	67
2026-03-27	0.055	0.0697	-11.14	142447	Downward Expansion	-84	86
2026-03-20	0.062	0.0702	1.25	233320	Downward Expansion	-67	81
2026-03-13	0.059	0.0703	-5.52	1442618	Downward Expansion	-79	88
2026-03-06	0.057	0.0707	-11.11	1035351	Rotation Down	-95	94
2026-02-27	0.064	0.0709	-4.10	823603	Rotation Down	-57	74
2026-02-20	0.067	0.0708	1.83	201780	Rotation Down	-44	62
2026-02-13	0.067	0.0707	4.22	484808	Balance	-45	51
2026-02-06	0.07	0.0704	12.31	216612	Balance	1	13
2026-01-30	0.07	0.07	11.04	299107	Balance	3	10
2026-01-23	0.072	0.0695	15.23	721545	Balance	30	14
2026-01-16	0.072	0.0689	15.80	877916	Upward Expansion	44	21
2026-01-09	0.072	0.0681	19.24	373259	Upward Expansion	50	30
2026-01-02	0.073	0.0674	21.88	125365	Upward Expansion	52	36
2025-12-26	0.074	0.0664	23.96	264861	Upward Expansion	53	39
2025-12-19	0.075	0.0655	28.66	382184	Deceleration	58	35
2025-12-12	0.074	0.0645	26.84	8164899	Deceleration	41	20
2025-12-05	0.073	0.0635	27.35	89917	Deceleration	36	21
2025-11-28	0.07	0.0625	23.53	349138	Deceleration	31	19
2025-11-21	0.066	0.0617	20.44	559182	Upward Expansion	31	20
2025-11-14	0.072	0.0612	29.11	168041	Upward Expansion	56	41
2025-11-07	0.074	0.0604	31.99	512731	Upward Expansion	59	45
2025-10-31	0.075	0.0596	33.45	1346660	Upward Expansion	63	48
2025-10-24	0.076	0.0588	34.52	1774803	Upward Expansion	70	52
2025-10-17	0.073	0.0579	30.55	934131	Upward Expansion	63	49
2025-10-10	0.071	0.0572	28.39	400459	Upward Expansion	64	54
2025-10-03	0.075	0.0566	36.08	513614	Upward Expansion	76	63
2025-09-26	0.072	0.0559	34.76	545359	Upward Expansion	68	60
2025-09-19	0.073	0.0553	38.15	847666	Upward Expansion	76	64
2025-09-12	0.0701	0.0544	32.57	619518	Upward Expansion	71	63
2025-09-05	0.0681	0.0534	30.05	1786057	Upward Expansion	67	63
2025-08-29	0.0711	0.0527	35.27	1712064	Upward Expansion	84	78
2025-08-22	0.0652	0.0517	25.21	781787	Upward Expansion	67	76
2025-08-15	0.0681	0.0508	32.09	6822444	Upward Expansion	86	92
2025-08-08	0.0633	0.05	25.32	333757	Upward Expansion	75	86
2025-08-01	0.0633	0.0492	28.09	815779	Upward Expansion	82	92
2025-07-25	0.0642	0.0487	30.83	2157084	Upward Expansion	93	96
2025-07-18	0.0565	0.0482	14.23	269233	Upward Expansion	72	84
2025-07-11	0.0574	0.0479	18.83	968943	Upward Expansion	83	85
2025-07-04	0.0565	0.0473	16.79	337019	Upward Expansion	83	76
2025-06-27	0.0535	0.0469	12.13	3056684	Balance	62	42
2025-06-20	0.0487	0.0464	2.14	1471148	Balance	37	25
2025-06-13	0.0487	0.0462	1.58	1218571	Rotation Down	9	7
2025-06-06	0.0457	0.046	-4.35	556169	Rotation Down	-18	33
2025-05-30	0.0467	0.0459	-1.58	413909	Rotation Down	-20	38
2025-05-23	0.0438	0.0457	-7.28	775127	Deceleration	-24	38
2025-05-16	0.0438	0.0459	-7.46	141906	Deceleration	-24	27
2025-05-09	0.0438	0.046	-6.59	182823	Deceleration	4	15
2025-05-02	0.0467	0.0462	-0.76	301943	Deceleration	25	16
2025-04-25	0.0487	0.0461	6.57	234080	Deceleration	34	17
2025-04-18	0.0487	0.0459	8.07	400037	Deceleration	37	22
2025-04-11	0.0501	0.0457	13.26	266090	Upward Expansion	42	28
2025-04-04	0.0506	0.0454	13.36	636173	Upward Expansion	55	38
2025-03-28	0.0506	0.045	8.48	1000969	Upward Expansion	60	64
2025-03-21	0.0506	0.0448	8.58	1098296	Upward Expansion	61	73
2025-03-14	0.0526	0.0446	14.38	153572	Upward Expansion	66	73
2025-03-07	0.0555	0.0443	17.99	752822	Balance	78	72
2025-02-28	0.0526	0.0439	8.55	3846502	Balance	68	43
2025-02-21	0.0457	0.0436	-7.26	485065	Balance	10	7
2025-02-14	0.0409	0.0437	-20.35	2067379	Balance	-53	30
2025-02-07	0.0467	0.0439	-9.69	1592523	Balance	-18	13
2025-01-31	0.0428	0.044	-18.31	3459866	Balance	-48	34
2025-01-24	0.038	0.0441	-27.40	217550	Balance	-63	38
2025-01-17	0.0428	0.0444	-18.19	131040	Balance	-22	12
2025-01-10	0.0409	0.0445	-22.71	416176	Balance	-7	15
2025-01-03	0.0477	0.0447	-10.20	0	Balance	30	33
2024-12-27	0.0477	0.0447	-11.10	0	Balance	12	17
2024-12-20	0.0477	0.0448	-9.70	193279	Balance	-12	6
2024-12-13	0.0409	0.0449	-25.35	783823	Balance	-55	32
2024-12-06	0.0448	0.0452	-20.19	326693	Balance	-46	41
2024-11-29	0.0389	0.0454	-31.42	22157	Balance	-66	61
2024-11-22	0.0428	0.0457	-25.10	73409	Balance	-40	34
2024-11-15	0.0409	0.0462	-28.30	13000	Balance	-47	33
2024-11-08	0.0419	0.0468	-27.44	37413	Balance	-40	16
2024-11-01	0.0419	0.0476	-26.74	461040	Balance	-25	21
2024-10-25	0.0487	0.0482	-16.82	0	Balance	3	20
2024-10-18	0.0487	0.0487	-18.28	680193	Balance	-0	14
2024-10-11	0.0477	0.049	-20.16	284601	Downward Expansion	-20	15
2024-10-04	0.0457	0.0493	-23.56	515981	Downward Expansion	-40	26
2024-09-27	0.0428	0.0498	-29.75	1765708	Downward Expansion	-57	43
2024-09-20	0.0428	0.0503	-30.65	398788	Downward Expansion	-59	46
2024-09-13	0.0399	0.051	-35.40	1233774	Downward Expansion	-70	52
2024-09-06	0.0399	0.0519	-35.52	1817729	Downward Expansion	-75	52
2024-08-30	0.0448	0.0529	-29.38	2407305	Downward Expansion	-58	44
2024-08-23	0.0428	0.0536	-32.65	1048390	Downward Expansion	-68	58
2024-08-16	0.0448	0.0544	-30.00	1675394	Downward Expansion	-60	46
2024-08-09	0.0438	0.0552	-30.72	48000	Downward Expansion	-69	51
2024-08-02	0.0428	0.0557	-34.47	8022507	Downward Expansion	-74	47
2024-07-26	0.0496	0.0565	-24.68	509309	Downward Expansion	-47	35
2024-07-19	0.0467	0.057	-30.17	976027	Downward Expansion	-63	49
2024-07-12	0.0477	0.0576	-29.32	458989	Downward Expansion	-63	52
2024-07-05	0.0467	0.058	-30.32	1693583	Downward Expansion	-64	55
2024-06-28	0.0467	0.0586	-30.58	1195144	Downward Expansion	-67	59
2024-06-21	0.0457	0.0591	-32.98	2446476	Downward Expansion	-74	59
2024-06-14	0.0487	0.0597	-28.91	730312	Downward Expansion	-66	58
2024-06-07	0.0467	0.0601	-33.61	1234432	Downward Expansion	-78	76
2024-05-31	0.0516	0.0607	-26.12	518188	Downward Expansion	-66	79
2024-05-24	0.0496	0.0613	-29.90	256687	Downward Expansion	-71	83
2024-05-17	0.0506	0.0617	-30.12	295696	Downward Expansion	-68	80
2024-05-10	0.0487	0.0624	-32.94	611336	Downward Expansion	-79	80
2024-05-03	0.0496	0.063	-31.18	392062	Downward Expansion	-79	65
2024-04-26	0.0574	0.0636	-20.63	430516	Downward Expansion	-61	31
2024-04-19	0.0584	0.0641	-19.80	1321507	Downward Expansion	-46	21
2024-04-12	0.0652	0.0647	-13.61	373839	Downward Expansion	-25	12
2024-04-05	0.0603	0.0649	-20.36	779325	Downward Expansion	-53	33
2024-03-29	0.0633	0.0655	-18.48	465260	Downward Expansion	-58	52
2024-03-22	0.0584	0.0658	-24.15	523054	Downward Expansion	-63	72
2024-03-15	0.0584	0.0664	-23.91	352865	Downward Expansion	-65	66
2024-03-08	0.0584	0.0671	-26.31	1049755	Balance	-66	57
2024-03-01	0.0584	0.0678	-26.01	1850586	Balance	-57	34
2024-02-23	0.0633	0.0683	-19.44	481660	Balance	-21	15
2024-02-16	0.0681	0.0687	-13.80	236316	Balance	-1	17
2024-02-09	0.0681	0.0689	-13.97	143772	Balance	-0	17
2024-02-02	0.0681	0.0693	-14.95	526057	Downward Expansion	-5	9
2024-01-26	0.0662	0.0696	-16.24	15000	Downward Expansion	-30	16
2024-01-19	0.0681	0.0699	-12.57	342083	Downward Expansion	-28	16
2024-01-12	0.0603	0.0704	-23.63	8500	Downward Expansion	-56	32
2024-01-05	0.0652	0.071	-17.91	17361	Downward Expansion	-40	28
2023-12-29	0.0652	0.0716	-19.34	0	Downward Expansion	-44	34
2023-12-22	0.0652	0.0723	-18.70	112692	Downward Expansion	-57	41
2023-12-15	0.0603	0.0729	-24.41	778361	Downward Expansion	-69	53
2023-12-08	0.0633	0.0737	-18.24	42076	Downward Expansion	-60	51
2023-12-01	0.0633	0.0742	-17.00	346803	Downward Expansion	-62	52
2023-11-24	0.0613	0.0749	-19.31	367169	Downward Expansion	-69	54
2023-11-17	0.0613	0.0756	-19.54	915923	Downward Expansion	-76	58
2023-11-10	0.0652	0.0763	-13.67	440188	Downward Expansion	-67	52
2023-11-03	0.0681	0.0769	-10.04	525689	Downward Expansion	-62	62
2023-10-27	0.0633	0.0775	-14.69	702484	Downward Expansion	-82	82
2023-10-20	0.0701	0.0783	-6.88	256528	Downward Expansion	-62	70

Price vs TrendBelow-19.5%

Trend directionFalling-11.3%

Price vs current Fair ValueBelow anchor-23.2%

Fair Value directionMoving away-16.2%

Relative Strength vs benchmarkLagging-28.3%

Relative strength directionWeakening-11.0%

Price momentumNegative-21.8%

Volume balanceSupply-led0.21×

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

-67 / ±100

+16.9 points since 2026-09-11

Energy

52 /100

-36.7 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.

VRS Directional State ↗ VRS Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance15

Rotation Up21

Upward Expansion8

Deceleration59

Rotation Down55

Downward Expansion79

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 24%Upward Expansion 19%Deceleration 6%Rotation Down 4%Downward Expansion 47%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2026-08-28	2026-10-09	Developing	+0.0%
Balance	2026-07-24	2026-08-21	Developing	-18.0%
Downward Expansion	2026-03-13	2026-07-17	Established	-8.5%
Rotation Down	2026-02-20	2026-03-06	New	-14.9%
Balance	2026-01-23	2026-02-13	New	-6.9%
Upward Expansion	2025-12-26	2026-01-16	New	-2.7%
Deceleration	2025-11-28	2025-12-19	New	+7.1%
Upward Expansion	2025-07-04	2025-11-21	Established	+16.9%
Balance	2025-06-20	2025-06-27	New	+10.0%
Rotation Down	2025-05-30	2025-06-13	New	+4.2%
Deceleration	2025-04-18	2025-05-23	Developing	-10.0%
Upward Expansion	2025-03-14	2025-04-11	Developing	-4.6%
Balance	2024-10-18	2025-03-07	Established	+14.0%
Downward Expansion	2024-03-15	2024-10-11	Extended	-18.3%

Classic Stage Analysis comparison

Stage 1 · Basing48

Stage 2 · Advancing0

Stage 3 · Distribution22

Stage 4 · Declining100

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

Leadership versus ^AXJO

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: 100/100
Current Relative Strength: -28.32
Relative Strength direction: Weakening
Price momentum: -21.8%
Excess performance vs benchmark: -19.1%
Industrials regime cohort: 53th percentile38 in cohort

Test VRS trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume7.14×

Latest completed volume relative to typical participation.

Up/down volume0.21×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationImproving

Current relationship between Fast Activity and Slow Activity.

Structure stability+0.0%

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 VRS Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity AUD 0.0443falling

Slow Activity AUD 0.051falling

Trend Reference AUD 0.0534-19.5% close margin

Current Fair Value AUD 0.056-23.2% close margin

Structural low AUD 0.04shock / repair context

What changes the read?

Fan contraction and a persistent upward fast/slow rotation are required before the declining structure is considered repaired.

Range context +11.2%

Annualized volatility +61.8%

From structural high -44.9%

From structural low +7.5%

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 ^AXJO	Regime survived	Read
Near term	28	-3.2%-25.4% to +26.8%	+39.3%	+57.1%	-3.0%	+85.7%	Usable descriptive sample
Intermediate	9	-7.0%-25.0% to +16.1%	+22.2%	+77.8%	-7.3%	+77.8%	Usable descriptive sample
Extended	5	-9.6%-31.4% to +7.5%	+20.0%	+80.0%	-12.6%	+60.0%	Usable descriptive sample
Full cycle	3	+11.9%-38.0% to +20.8%	+66.7%	+33.3%	+11.0%	+33.3%	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.

VRS Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding 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 weekly architecture is expanding 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