Weekly structural research ยท VIE ยท Basic Materials

IMCD Stage Analysis

IMCD N.V.

Week ending 9 Oct 2026Close EUR 100.65Tenure NewBenchmark ^ATX
Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction
Deceleration ยท Recompressing

The upward structure remains, but its energy is decelerating.

Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down.

  • The Trend gate is up within the current regime.
  • Fast Activity versus Slow Activity: weakening.
  • Activity structure: compressed and contracting.
Direction 70โˆ’100 bearish to +100 bullish
Energy 40/100directional strength
Maturity 38/100lifecycle context
Confidence 57/100evidence agreement
Trend gate Upstructural direction
Activity structure Compressedcontracting separation
Price acceptance +33.3%position within the Activity structure
Fair Value context -12.2%EUR 114.66 ยท improving
Trend Architecture map ยท 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.
  • Downward ExpansionDowntrend is established.
View chart values ยท 156 observations
WeekCloseTrendRelative StrengthVolumeRegimeDirectionEnergy
2026-10-09100.6591.383.190Deceleration7040
2026-10-0295.6690.49-4.860Deceleration4126
2026-09-2595.6689.68-8.500Upward Expansion4330
2026-09-1893.9489.11-8.770Upward Expansion4939
2026-09-1197.3488.80-7.350Upward Expansion6249
2026-09-0496.4488.55-8.450Upward Expansion6463
2026-08-2899.6288.16-5.110Upward Expansion7787
2026-08-2195.1687.43-7.910Upward Expansion6783
2026-08-1497.7486.79-7.410Upward Expansion7586
2026-08-07101.0086.08-3.700Deceleration8984
2026-07-3195.1085.28-7.160Deceleration6444
2026-07-2488.3284.67-14.400Deceleration2617
2026-07-1788.6284.22-13.970Deceleration1019
2026-07-1085.5083.78-19.580Deceleration-1932
2026-07-0383.5483.45-23.410Deceleration-026
2026-06-2680.2483.17-25.700Deceleration-1428
2026-06-1982.6483.02-26.000Deceleration1120
2026-06-1288.6082.80-18.430Deceleration3425
2026-06-0589.1682.45-16.720Upward Expansion4126
2026-05-2987.9482.19-19.720Upward Expansion4634
2026-05-2291.3282.23-15.440Upward Expansion6149
2026-05-1595.8482.30-10.470Upward Expansion6571
2026-05-0894.2282.03-13.37100Upward Expansion6575
2026-05-0197.6281.77-9.910Upward Expansion7681
2026-04-2495.2881.52-12.4567Rotation Up7378
2026-04-1793.4781.21-18.05147Rotation Up4548
2026-04-1090.6881.12-19.6397Balance3934
2026-04-0387.0581.11-19.00300Balance02
2026-03-2783.9481.23-20.21373Balance-2426
2026-03-2069.1581.59-34.15129Balance-7153
2026-03-1374.0082.37-31.47129Balance-4835
2026-03-0671.1382.98-36.761191Balance-4921
2026-02-2778.6683.78-34.76258Rotation Up-624
2026-02-2084.6584.28-32.26438Rotation Up2235
2026-02-1390.0085.15-26.97129Rotation Up2433
2026-02-0684.6385.86-33.02471Downward Expansion-1114
2026-01-3077.5486.72-39.1497Downward Expansion-4436
2026-01-2376.2087.85-40.48213Downward Expansion-4641
2026-01-1676.3889.07-40.924Downward Expansion-4947
2026-01-0976.8790.22-40.930Downward Expansion-5354
2026-01-0276.7791.53-41.470Downward Expansion-6563
2025-12-2674.8592.82-42.840Downward Expansion-7066
2025-12-1975.5594.26-43.180Downward Expansion-6766
2025-12-1275.6795.61-42.620Downward Expansion-7084
2025-12-0575.1097.18-43.847Downward Expansion-7691
2025-11-2875.7398.58-43.580Downward Expansion-7992
2025-11-2175.8799.91-41.85535Downward Expansion-8894
2025-11-1478.32101.24-41.680Downward Expansion-8979
2025-11-0781.13102.46-39.30134Downward Expansion-8765
2025-10-3189.17103.52-35.110Downward Expansion-5451
2025-10-2493.55104.29-30.860Downward Expansion-6150
2025-10-1787.62105.24-34.880Downward Expansion-6764
2025-10-1086.58106.45-37.73202Downward Expansion-7467
2025-10-0390.04107.80-37.370Downward Expansion-6564
2025-09-2685.97109.14-39.730Downward Expansion-8271
2025-09-1990.68110.85-36.990Downward Expansion-7067
2025-09-1290.41112.60-38.260Downward Expansion-7469
2025-09-0590.76114.48-38.180Downward Expansion-7686
2025-08-2994.65116.28-36.540Downward Expansion-6888
2025-08-2292.51118.01-40.830Downward Expansion-7791
2025-08-1592.32119.63-42.270Downward Expansion-8694
2025-08-0895.32121.24-39.440Downward Expansion-8790
2025-08-0193.42122.50-37.770Downward Expansion-9482
2025-07-25110.97123.94-28.690Downward Expansion-6457
2025-07-18111.32124.79-27.4588Downward Expansion-6356
2025-07-11110.19125.55-28.530Downward Expansion-7271
2025-07-04111.56126.67-26.390Downward Expansion-6858
2025-06-27112.84127.67-26.500Downward Expansion-6652
2025-06-20110.73128.45-26.860Downward Expansion-7655
2025-06-13116.28129.26-24.000Downward Expansion-6147
2025-06-06115.59130.04-26.490Downward Expansion-5240
2025-05-30117.85131.07-25.130Downward Expansion-4435
2025-05-23116.13131.86-25.90169Downward Expansion-5142
2025-05-16122.66132.82-23.080Downward Expansion-4945
2025-05-09117.26133.60-24.660Downward Expansion-6360
2025-05-02115.54134.60-22.770Downward Expansion-6666
2025-04-25115.73135.68-21.920Downward Expansion-6883
2025-04-18115.10136.88-19.800Downward Expansion-7189
2025-04-11112.88137.99-17.600Downward Expansion-8493
2025-04-04112.35139.25-19.510Downward Expansion-9397
2025-03-28121.85140.28-21.830Downward Expansion-8291
2025-03-21124.02140.98-22.590Downward Expansion-8286
2025-03-14127.06141.36-22.040Balance-7665
2025-03-07130.34141.58-20.510Balance-5633
2025-02-28137.23141.72-14.000Rotation Up-410
2025-02-21143.02141.64-8.600Rotation Up3044
2025-02-14146.97141.09-7.110Balance3746
2025-02-07144.71140.39-3.870Balance4634
2025-01-31146.59139.74-2.390Balance2016
2025-01-24141.04139.11-5.700Deceleration-68
2025-01-17140.80138.64-4.350Deceleration-2019
2025-01-10132.94138.27-6.680Deceleration-3945
2025-01-03136.60138.30-4.350Deceleration-1920
2024-12-27136.46138.26-4.120Deceleration-2017
2024-12-20134.34138.25-4.820Deceleration-1121
2024-12-13143.79138.26-0.010Deceleration1317
2024-12-06141.33138.05-0.170Deceleration420
2024-11-29136.36137.98-2.580Deceleration-319
2024-11-22135.01137.91-3.460Deceleration-516
2024-11-15139.64137.73-0.900Deceleration2720
2024-11-08146.54137.884.140Deceleration4023
2024-11-01141.67138.011.570Deceleration4025
2024-10-25144.71138.272.410Rotation Up4535
2024-10-18146.20138.652.470Rotation Up6050
2024-10-11147.31139.033.880Rotation Up3757
2024-10-04147.74139.214.600Rotation Up4071
2024-09-27151.89139.206.680Rotation Up5379
2024-09-20148.37138.915.480Rotation Up3972
2024-09-13150.59138.517.720Rotation Up5069
2024-09-06143.40137.923.530Downward Expansion3741
2024-08-30142.82137.66-0.880Downward Expansion2032
2024-08-23135.30137.48-5.060Downward Expansion-1927
2024-08-16133.81137.43-4.590Downward Expansion-3327
2024-08-09134.39137.56-2.44231Downward Expansion-4228
2024-08-02134.92137.83-1.190Downward Expansion-5245
2024-07-26126.33138.11-11.220Downward Expansion-6785
2024-07-19126.00โ€”โ€”0Not yet classifiedโ€”โ€”
2024-07-12125.42โ€”โ€”23Not yet classifiedโ€”โ€”
2024-07-05127.73โ€”โ€”0Not yet classifiedโ€”โ€”
2024-06-28126.86โ€”โ€”0Not yet classifiedโ€”โ€”
2024-06-21129.71โ€”โ€”61Not yet classifiedโ€”โ€”
2024-06-14133.90โ€”โ€”0Not yet classifiedโ€”โ€”
2024-06-07135.40โ€”โ€”0Not yet classifiedโ€”โ€”
2024-05-31136.07โ€”โ€”0Not yet classifiedโ€”โ€”
2024-05-24134.63โ€”โ€”0Not yet classifiedโ€”โ€”
2024-05-17137.33โ€”โ€”0Not yet classifiedโ€”โ€”
2024-05-10139.38โ€”โ€”0Not yet classifiedโ€”โ€”
2024-05-03134.30โ€”โ€”0Not yet classifiedโ€”โ€”
2024-04-26129.60โ€”โ€”122Not yet classifiedโ€”โ€”
2024-04-19144.17โ€”โ€”0Not yet classifiedโ€”โ€”
2024-04-12150.40โ€”โ€”0Not yet classifiedโ€”โ€”
2024-04-05149.45โ€”โ€”0Not yet classifiedโ€”โ€”
2024-03-29155.95โ€”โ€”0Not yet classifiedโ€”โ€”
2024-03-22157.85โ€”โ€”64Not yet classifiedโ€”โ€”
2024-03-15152.49โ€”โ€”0Not yet classifiedโ€”โ€”
2024-03-08147.50โ€”โ€”0Not yet classifiedโ€”โ€”
2024-03-01143.37โ€”โ€”0Not yet classifiedโ€”โ€”
2024-02-23136.10โ€”โ€”0Not yet classifiedโ€”โ€”
2024-02-16133.11โ€”โ€”0Not yet classifiedโ€”โ€”
2024-02-09135.63โ€”โ€”0Not yet classifiedโ€”โ€”
2024-02-02137.19โ€”โ€”0Not yet classifiedโ€”โ€”
2024-01-26133.96โ€”โ€”0Not yet classifiedโ€”โ€”
2024-01-19137.81โ€”โ€”0Not yet classifiedโ€”โ€”
2024-01-12142.47โ€”โ€”0Not yet classifiedโ€”โ€”
2024-01-05143.13โ€”โ€”0Not yet classifiedโ€”โ€”
2023-12-29150.16โ€”โ€”0Not yet classifiedโ€”โ€”
2023-12-22145.93โ€”โ€”0Not yet classifiedโ€”โ€”
2023-12-15146.74โ€”โ€”0Not yet classifiedโ€”โ€”
2023-12-08138.95โ€”โ€”0Not yet classifiedโ€”โ€”
2023-12-01134.63โ€”โ€”0Not yet classifiedโ€”โ€”
2023-11-24130.88โ€”โ€”0Not yet classifiedโ€”โ€”
2023-11-17130.21โ€”โ€”73Not yet classifiedโ€”โ€”
2023-11-10114.30โ€”โ€”0Not yet classifiedโ€”โ€”
2023-11-03112.17โ€”โ€”0Not yet classifiedโ€”โ€”
2023-10-27106.04โ€”โ€”0Not yet classifiedโ€”โ€”
2023-10-20106.04โ€”โ€”0Not yet classifiedโ€”โ€”
Price vs TrendAbove+10.1%
Trend directionRising+7.2%
Price vs current Fair ValueBelow anchor-12.2%
Fair Value directionClosing upward+14.5%
Relative Strength vs benchmarkLeading+3.2%
Relative strength directionImproving+22.8%
Price momentumPositive+11.0%
Volume balanceSupply-ledร—
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

70 / ยฑ100

+8.1 points since 2026-09-11

Energy

40 /100

-9.6 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.

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated
Balance37
Rotation Up42
Upward Expansion69
Deceleration72
Rotation Down26
Downward Expansion9

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 todayโ€™s regime

2023-10-20 to 2026-10-09 ยท 116 classified observations out of 156 shown.

Balance 10%Rotation Up 12%Upward Expansion 11%Deceleration 21%Downward Expansion 47%
Recent Trend Architecture ledger
RegimeRecognizedLast observationTenureMove inside regime
Deceleration2026-10-022026-10-09New+5.2%
Upward Expansion2026-08-142026-09-25Developing-2.1%
Deceleration2026-06-122026-08-07Developing+14.0%
Upward Expansion2026-05-012026-06-05Developing-8.7%
Rotation Up2026-04-172026-04-24New+1.9%
Balance2026-03-062026-04-10Developing+27.5%
Rotation Up2026-02-132026-02-27New-12.6%
Downward Expansion2025-03-212026-02-06Extended-31.8%
Balance2025-03-072025-03-14New-2.5%
Rotation Up2025-02-212025-02-28New-4.0%
Balance2025-01-312025-02-14New+0.3%
Deceleration2024-11-012025-01-24Established-0.4%
Rotation Up2024-09-132024-10-25Developing-3.9%
Downward Expansion2024-07-262024-09-06Developing+13.5%
Classic Stage Analysis comparison
Stage 1 ยท Basing46
Stage 2 ยท Advancing44
Stage 3 ยท Distribution27
Stage 4 ยท Declining1

Legacy result: Stage 1 ยท Stage 1C ยท Breakout watch. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus ^ATX

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
3.19
Relative Strength direction
Improving
Price momentum
+11.0%
Excess performance vs benchmark
-1.6%
Basic Materials regime cohort
92th percentile12 in cohort
Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry
Relative volumeร—

Latest completed volume relative to typical participation.

Up/down volumeร—

Participation balance between advancing and declining observations.

Accumulation / distribution0 / 0

Recent participation evidence classified by demand and supply.

Activity alignment+100.0%

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.

Decision architecture

References that would change the structural read

Evidence levels, not orders
Fast Activity EUR 97.21falling
Slow Activity EUR 93.40rising
Trend Reference EUR 91.38+10.1% close margin
Current Fair Value EUR 114.66-12.2% close margin
Structural low EUR 80.24shock / repair context
What changes the read?

Renewed positive order and expanding width produce re-acceleration; fast/slow failure with downside acceptance produces Rotation Down.

Range context +4.3%
Annualized volatility +26.3%
From structural high -2.4%
From structural low +49.5%
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 movePositive periodsDirectional follow-through Median excess vs ^ATX Regime survived Read
Near term7+0.1%-4.5% to +18.1%+57.1%+57.1%-3.9%+71.4%Usable descriptive sample
Intermediate2+6.7%+3.5% to +9.9%+100.0%+100.0%-3.1%+0.0%Too little matched history
Extended1-18.4%-18.4% to -18.4%+0.0%+0.0%-35.2%+0.0%Too little matched history
Full cycle1-37.1%-37.1% to -37.1%+0.0%+0.0%-73.3%+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