Weekly structural research · NYSE · Energy

E Stage Analysis

Eni SpA ADR

Week ending 9 Oct 2026Close USD 56.00Tenure DevelopingBenchmark SPY

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Re-accelerating

The weekly architecture is expanding upward.

Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing.

The Trend gate is up within the current regime.
Fast Activity versus Slow Activity: stable.
Activity structure: compressed and expanding.

Direction 61−100 bearish to +100 bullish

Energy 42/100directional strength

Maturity 20/100lifecycle context

Confidence 95/100evidence agreement

Trend gate Upstructural direction

Activity structure Compressedexpanding separation

Price acceptance +66.7%position within the Activity structure

Fair Value context +62.5%USD 34.47 · 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

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-09	56.00	53.15	8.76	1655224	Upward Expansion	61	42
2026-10-02	54.73	52.95	8.18	1792528	Upward Expansion	52	36
2026-09-25	54.71	52.69	8.54	1544894	Upward Expansion	44	27
2026-09-18	53.98	52.39	9.05	1711342	Upward Expansion	39	21
2026-09-11	55.40	52.03	12.50	1218930	Upward Expansion	59	32
2026-09-04	52.96	51.60	7.42	1995605	Upward Expansion	42	28
2026-08-28	52.19	51.21	6.58	1500408	Upward Expansion	54	46
2026-08-21	55.81	50.81	15.02	2295625	Upward Expansion	67	63
2026-08-14	55.28	50.25	13.04	1312169	Deceleration	65	48
2026-08-07	53.61	49.67	10.43	1846379	Deceleration	45	37
2026-07-31	55.56	49.10	19.10	2859416	Deceleration	52	31
2026-07-24	52.40	48.52	14.34	1748367	Deceleration	14	15
2026-07-17	49.77	48.00	8.59	1544940	Deceleration	-4	39
2026-07-10	47.72	47.56	3.05	2108838	Deceleration	-3	31
2026-07-03	46.87	47.19	2.98	2226114	Deceleration	-10	28
2026-06-26	46.08	46.84	3.86	3610553	Deceleration	-10	19
2026-06-19	48.95	46.52	8.13	1998541	Deceleration	24	17
2026-06-12	53.50	46.09	19.76	1321643	Deceleration	44	32
2026-06-05	53.80	45.53	21.89	1412305	Deceleration	48	38
2026-05-29	52.16	44.92	16.13	1490015	Upward Expansion	48	39
2026-05-22	54.39	44.37	23.69	1793155	Upward Expansion	61	52
2026-05-15	54.87	43.74	26.90	1650018	Upward Expansion	57	53
2026-05-08	52.83	43.02	23.52	2642318	Upward Expansion	52	52
2026-05-01	55.53	42.37	33.89	2600059	Upward Expansion	74	66
2026-04-24	53.50	41.64	31.51	2175130	Upward Expansion	66	66
2026-04-17	51.66	41.01	28.76	2845744	Upward Expansion	68	68
2026-04-10	55.80	40.38	46.49	4298958	Upward Expansion	77	86
2026-04-03	56.46	39.62	55.47	3054144	Upward Expansion	91	95
2026-03-27	54.60	38.81	57.35	3961269	Upward Expansion	93	97
2026-03-20	53.30	38.12	51.99	4405527	Upward Expansion	97	99
2026-03-13	50.20	37.48	42.12	2619809	Upward Expansion	96	98
2026-03-06	46.68	36.92	31.43	2567371	Upward Expansion	91	97
2026-02-27	45.88	36.45	27.64	2774223	Upward Expansion	95	98
2026-02-20	43.20	36.00	20.56	1108676	Upward Expansion	88	95
2026-02-13	42.47	35.65	20.64	1164695	Upward Expansion	89	95
2026-02-06	41.36	35.27	16.77	1582032	Upward Expansion	89	92
2026-01-30	39.99	34.95	13.36	1284581	Upward Expansion	84	70
2026-01-23	39.07	34.65	11.81	964705	Upward Expansion	82	68
2026-01-16	37.82	34.37	8.43	1159478	Upward Expansion	70	53
2026-01-09	36.47	34.15	4.60	2827348	Upward Expansion	61	49
2026-01-02	38.16	33.96	11.49	691118	Upward Expansion	83	66
2025-12-26	36.91	33.65	7.27	506299	Upward Expansion	68	54
2025-12-19	36.41	33.35	7.79	1032226	Upward Expansion	62	52
2025-12-12	36.75	33.06	9.45	884577	Upward Expansion	69	58
2025-12-05	36.37	32.77	8.17	1072919	Upward Expansion	66	59
2025-11-28	36.57	32.47	9.59	1022539	Upward Expansion	72	71
2025-11-21	35.88	32.14	11.95	1451732	Upward Expansion	65	77
2025-11-14	36.77	31.85	12.93	977302	Upward Expansion	82	88
2025-11-07	35.65	31.48	10.04	1298974	Upward Expansion	74	75
2025-10-31	35.51	31.11	8.15	1855020	Upward Expansion	78	59
2025-10-24	35.41	30.80	8.79	1289568	Upward Expansion	79	56
2025-10-17	33.48	30.58	4.99	1166182	Upward Expansion	57	46
2025-10-10	33.09	30.41	5.71	953313	Upward Expansion	57	47
2025-10-03	33.73	30.22	5.19	1272598	Upward Expansion	64	53
2025-09-26	34.49	30.00	8.79	1268385	Upward Expansion	79	57
2025-09-19	32.87	29.73	3.52	1022179	Upward Expansion	51	47
2025-09-12	33.00	29.52	5.19	957488	Upward Expansion	64	60
2025-09-05	32.34	29.31	4.77	1477662	Upward Expansion	66	64
2025-08-29	33.85	29.10	9.97	1028020	Upward Expansion	76	77
2025-08-22	34.00	28.83	10.45	1144197	Upward Expansion	82	79
2025-08-15	33.32	28.56	8.59	1154202	Upward Expansion	80	80
2025-08-08	32.78	28.33	7.89	1037116	Upward Expansion	77	73
2025-08-01	32.15	28.09	8.39	1456019	Upward Expansion	71	82
2025-07-25	32.83	27.86	8.01	1200788	Upward Expansion	87	92
2025-07-18	31.16	27.59	4.07	1225584	Upward Expansion	67	84
2025-07-11	31.66	27.35	6.41	1133649	Upward Expansion	79	91
2025-07-04	31.03	27.15	4.04	1243860	Upward Expansion	73	88
2025-06-27	30.75	26.97	4.81	1788208	Upward Expansion	73	85
2025-06-20	31.16	26.80	9.90	1717584	Upward Expansion	85	87
2025-06-13	30.84	26.65	8.69	1702036	Upward Expansion	87	79
2025-06-06	28.82	26.51	1.39	1413395	Upward Expansion	72	67
2025-05-30	27.97	26.44	-0.07	930758	Upward Expansion	62	56
2025-05-23	27.54	26.41	-0.12	1259602	Upward Expansion	53	45
2025-05-16	28.03	26.42	-1.11	1915964	Balance	61	43
2025-05-09	27.35	26.41	1.31	1386400	Balance	40	18
2025-05-02	26.76	26.43	-1.57	1469011	Balance	-3	14
2025-04-25	27.01	26.48	1.96	1725916	Balance	-1	17
2025-04-18	25.90	26.50	1.94	1987090	Balance	-9	16
2025-04-11	24.57	26.57	-4.98	4297755	Rotation Up	-18	10
2025-04-04	26.15	26.66	6.40	1467897	Rotation Up	23	41
2025-03-28	28.77	26.70	6.22	1296128	Rotation Up	57	74
2025-03-21	28.48	26.70	3.55	1139582	Rotation Up	49	63
2025-03-14	27.39	26.71	0.03	1513617	Balance	33	43
2025-03-07	26.91	26.74	-4.17	1741142	Balance	6	19
2025-02-28	26.47	26.76	-8.90	1453528	Balance	-5	17
2025-02-21	26.56	26.79	-9.73	766618	Balance	-4	14
2025-02-14	26.83	26.84	-10.58	1306204	Downward Expansion	-11	14
2025-02-07	26.11	26.84	-11.96	946636	Downward Expansion	-31	23
2025-01-31	25.72	26.88	-13.76	1537655	Downward Expansion	-35	25
2025-01-24	25.65	26.95	-15.28	921274	Downward Expansion	-39	25
2025-01-17	26.45	27.00	-11.62	1651501	Downward Expansion	-45	33
2025-01-10	25.70	27.01	-12.01	1429430	Downward Expansion	-63	62
2025-01-03	25.31	27.00	-15.54	1111447	Downward Expansion	-66	79
2024-12-27	24.62	27.05	-18.86	1189982	Downward Expansion	-74	86
2024-12-20	24.09	27.16	-20.70	2034916	Downward Expansion	-88	88
2024-12-13	25.44	27.27	-18.45	1568610	Downward Expansion	-74	77
2024-12-06	25.68	27.37	-18.67	1905718	Downward Expansion	-73	74
2024-11-29	25.75	27.45	-18.31	932867	Downward Expansion	-74	70
2024-11-22	26.51	27.51	-15.51	1234163	Balance	-63	58
2024-11-15	26.63	27.58	-14.27	1244926	Balance	-33	41
2024-11-08	26.84	27.63	-15.91	1056968	Balance	-29	28
2024-11-01	27.18	27.70	-11.35	1684480	Balance	-22	12
2024-10-25	27.81	27.77	-11.09	1098488	Balance	4	5
2024-10-18	27.59	27.76	-13.21	963550	Balance	-1	2
2024-10-11	28.12	27.74	-11.37	1041535	Balance	17	11
2024-10-04	28.18	27.70	-10.65	2161476	Balance	7	5
2024-09-27	27.46	27.68	-13.10	1140965	Balance	-5	9
2024-09-20	28.26	27.64	-10.52	1612198	Upward Expansion	41	17
2024-09-13	27.27	27.58	-12.86	2020372	Upward Expansion	19	13
2024-09-06	27.30	27.53	-9.69	761055	Upward Expansion	35	38
2024-08-30	28.72	27.50	-9.20	1012630	Upward Expansion	64	58
2024-08-23	28.83	27.44	-8.83	776764	Balance	57	48
2024-08-16	28.20	27.40	-9.80	610414	Balance	46	26
2024-08-09	27.61	27.35	-8.39	1234426	Balance	6	7
2024-08-02	27.31	27.38	-9.56	1599250	Balance	2	6
2024-07-26	27.92	27.43	-9.67	1238455	Balance	12	12
2024-07-19	26.97	27.47	-13.59	938652	Balance	-25	14
2024-07-12	27.41	27.53	-14.09	990970	Balance	-23	12
2024-07-05	27.56	27.53	-12.99	515290	Downward Expansion	-38	36
2024-06-28	27.15	27.53	-12.81	1077009	Downward Expansion	-46	50
2024-06-21	26.89	27.57	-13.83	5940133	Downward Expansion	-46	52
2024-06-14	25.52	27.61	-17.81	1050280	Balance	-66	56
2024-06-07	26.67	27.67	-12.92	2753273	Balance	-23	18
2024-05-31	27.80	27.69	-8.21	1390910	Upward Expansion	31	14
2024-05-24	27.47	27.68	-9.75	4070660	Upward Expansion	25	15
2024-05-17	28.37	27.68	-6.93	1705038	Upward Expansion	43	24
2024-05-10	28.34	27.64	-5.64	990444	Upward Expansion	53	28
2024-05-03	27.53	27.61	-6.73	1264296	Upward Expansion	40	32
2024-04-26	28.47	27.56	-3.15	919358	Upward Expansion	60	66
2024-04-19	28.22	27.51	-1.60	1177914	Upward Expansion	49	58
2024-04-12	28.75	27.48	-2.96	1151012	Balance	59	57
2024-04-05	29.30	27.42	-2.73	1096008	Balance	39	33
2024-03-29	27.54	27.32	-9.48	563040	Balance	-20	18
2024-03-22	26.95	27.27	-11.22	1207324	Balance	-7	9
2024-03-15	27.10	27.22	-8.82	1110912	Rotation Down	-12	12
2024-03-08	27.44	27.15	-7.74	1174783	Rotation Down	-24	25
2024-03-01	26.39	27.08	-11.63	1669854	Rotation Down	-34	56
2024-02-23	26.30	27.04	-11.26	728931	Rotation Down	-28	54
2024-02-16	25.99	26.99	-11.00	1423648	Upward Expansion	-35	50
2024-02-09	26.29	26.96	-10.54	1737268	Upward Expansion	-31	34
2024-02-02	26.85	26.91	-7.67	1527239	Upward Expansion	10	17
2024-01-26	27.61	26.81	-3.86	1531876	Upward Expansion	34	17
2024-01-19	26.92	26.68	-5.46	1375951	Upward Expansion	30	25
2024-01-12	28.32	26.55	0.36	1220022	Upward Expansion	59	56
2024-01-05	28.91	26.39	4.20	1020512	Upward Expansion	67	58
2023-12-29	29.04	26.20	3.04	688590	Upward Expansion	72	50
2023-12-22	28.72	26.01	2.28	1121226	Upward Expansion	71	47
2023-12-15	27.54	25.83	-1.03	3794111	Upward Expansion	56	40
2023-12-08	27.58	25.71	1.47	1187131	Upward Expansion	59	44
2023-12-01	28.15	25.58	3.88	1042850	Upward Expansion	68	50
2023-11-24	28.11	25.45	4.70	1212167	Upward Expansion	71	51
2023-11-17	27.58	25.34	3.81	1409531	Upward Expansion	65	48
2023-11-10	27.14	25.24	4.60	1548057	Upward Expansion	61	49
2023-11-03	27.59	25.17	7.88	2316071	Upward Expansion	70	56
2023-10-27	27.31	25.05	13.16	1672681	Upward Expansion	66	51
2023-10-20	27.34	24.90	10.92	1226854	Upward Expansion	71	55

Price vs TrendAbove+5.4%

Trend directionRising+8.3%

Price vs current Fair ValuePremium+62.5%

Fair Value directionClosing upward+14.0%

Relative Strength vs benchmarkLeading+8.8%

Relative strength directionImproving+5.7%

Price momentumPositive+0.4%

Volume balanceDemand-led3.55×

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

61 / ±100

+1.4 points since 2026-09-11

Energy

42 /100

+10.1 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.

E Directional State ↗ E Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance40

Rotation Up53

Upward Expansion80

Deceleration51

Rotation Down18

Downward Expansion7

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 20%Rotation Up 3%Upward Expansion 58%Deceleration 7%Rotation Down 3%Downward Expansion 10%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-08-21	2026-10-09	Developing	+0.3%
Deceleration	2026-06-05	2026-08-14	Developing	+2.8%
Upward Expansion	2025-05-23	2026-05-29	Extended	+89.4%
Balance	2025-04-18	2025-05-16	Developing	+8.3%
Rotation Up	2025-03-21	2025-04-11	New	-13.7%
Balance	2025-02-21	2025-03-14	New	+3.1%
Downward Expansion	2024-11-29	2025-02-14	Developing	+4.2%
Balance	2024-09-27	2024-11-22	Developing	-3.5%
Upward Expansion	2024-08-30	2024-09-20	New	-1.6%
Balance	2024-07-12	2024-08-23	Developing	+5.2%
Downward Expansion	2024-06-21	2024-07-05	New	+2.5%
Balance	2024-06-07	2024-06-14	New	-4.3%
Upward Expansion	2024-04-19	2024-05-31	Developing	-1.5%
Balance	2024-03-22	2024-04-12	New	+6.7%

Classic Stage Analysis comparison

Stage 1 · Basing26

Stage 2 · Advancing100

Stage 3 · Distribution52

Stage 4 · Declining0

Legacy result: Stage 2 · Stage 2B · Advancing. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus SPY

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: 92/100
Current Relative Strength: 8.76
Relative Strength direction: Improving
Price momentum: +0.4%
Excess performance vs benchmark: -14.5%
Energy regime cohort: 59th percentile59 in cohort

Test E trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.89×

Latest completed volume relative to typical participation.

Up/down volume3.55×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 0

Recent participation evidence classified by demand and supply.

Activity alignment+100.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationStable

Current relationship between Fast Activity and Slow Activity.

Structure stability+50.0%

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 E Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity USD 55.09rising

Slow Activity USD 53.20rising

Trend Reference USD 53.15+5.4% close margin

Current Fair Value USD 34.47+62.5% close margin

Structural low USD 45.51shock / repair context

What changes the read?

Sustained fan recompression, a fast-line rollover or repeated closes inside/below the fan move the read toward Deceleration or Rotation Down.

Range context +5.4%

Annualized volatility +30.2%

From structural high -2.4%

From structural low +71.1%

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 SPY	Regime survived	Read
Near term	38	+0.7%-10.0% to +19.0%	+57.9%	+57.9%	-1.0%	+78.9%	Usable descriptive sample
Intermediate	15	+2.6%-27.1% to +25.9%	+80.0%	+80.0%	+1.2%	+66.7%	Usable descriptive sample
Extended	8	+6.8%-26.1% to +51.6%	+75.0%	+75.0%	-2.1%	+50.0%	Usable descriptive sample
Full cycle	4	+7.9%-14.6% to +97.5%	+50.0%	+50.0%	+2.5%	+50.0%	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.

E Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding upward.

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

Leading 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 upward.

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 ?

Leading 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