Weekly structural research · GER · Healthcare

TN8 Stage Analysis

Thermo Fisher Scientific Inc.

Week ending 2 Oct 2026Close EUR 580.40Tenure DevelopingBenchmark ^GDAXI

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Early expansion

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: improving.
Activity structure: wide and contracting.

Direction 79−100 bearish to +100 bullish

Energy 72/100directional strength

Maturity 38/100lifecycle context

Confidence 72/100evidence agreement

Trend gate Upstructural direction

Activity structure Widecontracting separation

Price acceptance +66.7%position within the Activity structure

Fair Value context +22.5%EUR 473.82 · 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
2026-10-02	580.40	461.15	20.52	817	Upward Expansion	79	72
2026-09-25	590.00	456.26	22.20	1159	Upward Expansion	92	77
2026-09-18	569.80	451.07	19.30	1282	Upward Expansion	90	75
2026-09-11	525.73	446.50	9.53	1313	Upward Expansion	67	79
2026-09-04	527.73	443.27	8.29	2194	Upward Expansion	68	88
2026-08-28	535.52	440.93	8.00	311	Upward Expansion	86	95
2026-08-21	535.52	439.35	10.09	418	Upward Expansion	92	97
2026-08-14	512.34	439.39	4.46	142	Rotation Up	84	94
2026-08-07	505.60	440.31	3.81	231	Rotation Up	60	85
2026-07-31	492.40	440.79	4.15	216	Rotation Up	57	84
2026-07-24	489.60	441.11	6.02	1359	Rotation Up	60	83
2026-07-17	466.90	441.11	2.48	125	Rotation Up	39	64
2026-07-10	460.20	441.69	0.49	122	Downward Expansion	37	43
2026-07-03	457.60	442.59	-2.52	0	Downward Expansion	15	25
2026-06-26	442.10	443.74	-1.36	198	Downward Expansion	-12	15
2026-06-19	401.20	445.90	-11.30	19	Downward Expansion	-42	24
2026-06-12	408.53	449.24	-8.25	45	Downward Expansion	-44	31
2026-06-05	411.53	452.23	-7.89	155	Downward Expansion	-59	45
2026-05-29	419.32	455.01	-7.23	902	Downward Expansion	-64	62
2026-05-22	383.06	457.30	-14.35	1532	Downward Expansion	-72	86
2026-05-15	377.87	460.89	-12.12	1327	Downward Expansion	-82	88
2026-05-08	392.45	463.66	-10.14	2054	Downward Expansion	-74	63
2026-05-01	405.73	465.68	-6.84	1186	Downward Expansion	-68	46
2026-04-24	401.74	467.29	-7.07	1645	Downward Expansion	-62	38
2026-04-17	448.18	467.07	1.27	764	Downward Expansion	-45	32
2026-04-10	425.61	465.68	-0.17	855	Downward Expansion	-61	49
2026-04-03	433.15	465.16	4.33	292	Downward Expansion	-65	55
2026-03-27	414.22	464.69	3.54	1212	Rotation Down	-69	66
2026-03-20	410.18	464.80	1.95	697	Rotation Down	-50	71
2026-03-13	410.28	465.24	-2.92	562	Rotation Down	-55	77
2026-03-06	433.86	465.39	1.70	778	Rotation Down	-32	69
2026-02-27	434.16	463.90	-5.30	560	Rotation Down	-33	55
2026-02-20	432.56	462.52	-6.05	798	Rotation Down	-39	49
2026-02-13	428.87	461.72	-6.13	895	Rotation Down	-19	30
2026-02-06	457.75	459.30	0.42	1501	Upward Expansion	20	21
2026-01-30	488.03	456.36	7.13	1006	Upward Expansion	63	57
2026-01-23	536.57	452.46	15.29	726	Upward Expansion	78	90
2026-01-16	540.06	446.26	13.77	1316	Upward Expansion	86	86
2026-01-09	520.11	439.59	9.20	937	Deceleration	78	59
2026-01-02	501.95	434.03	7.87	565	Deceleration	58	46
2025-12-26	489.43	429.12	5.49	254	Upward Expansion	46	38
2025-12-19	484.29	424.65	4.09	1282	Upward Expansion	50	46
2025-12-12	487.45	419.99	4.66	523	Upward Expansion	63	58
2025-12-05	491.94	415.86	5.87	773	Upward Expansion	67	65
2025-11-28	506.99	411.44	9.56	732	Upward Expansion	75	71
2025-11-21	501.31	406.92	11.37	668	Upward Expansion	74	85
2025-11-14	498.27	402.57	6.66	894	Upward Expansion	77	91
2025-11-07	495.03	398.57	6.89	2049	Upward Expansion	80	92
2025-10-31	487.85	394.56	3.06	1173	Upward Expansion	79	92
2025-10-24	490.89	391.82	1.88	3289	Upward Expansion	88	95
2025-10-17	460.89	390.88	-3.27	1901	Upward Expansion	76	78
2025-10-10	453.11	391.33	-7.27	878	Upward Expansion	76	62
2025-10-03	454.06	391.98	-8.42	1686	Rotation Up	78	46
2025-09-26	395.05	392.90	-18.92	829	Rotation Up	16	17
2025-09-19	406.56	396.35	-17.12	1031	Rotation Up	31	31
2025-09-12	410.02	399.76	-17.53	908	Rotation Up	35	46
2025-09-05	418.78	402.99	-16.32	1557	Rotation Up	31	57
2025-08-29	417.64	407.22	-18.53	792	Rotation Up	33	57
2025-08-22	423.26	412.47	-19.82	566	Rotation Up	20	46
2025-08-15	415.05	416.51	-22.16	1184	Balance	17	32
2025-08-08	389.06	420.76	-27.24	1325	Balance	-7	19
2025-08-01	392.79	425.46	-25.17	1445	Downward Expansion	-9	19
2025-07-25	408.48	429.35	-25.65	3028	Downward Expansion	-15	20
2025-07-18	356.15	432.43	-36.08	3214	Downward Expansion	-48	39
2025-07-11	369.79	437.23	-34.21	3702	Downward Expansion	-48	46
2025-07-04	370.94	441.49	-33.34	1068	Downward Expansion	-52	52
2025-06-27	350.47	445.70	-38.23	1387	Downward Expansion	-64	61
2025-06-20	340.16	450.66	-38.96	1569	Downward Expansion	-74	66
2025-06-13	353.16	455.71	-37.80	1015	Downward Expansion	-67	65
2025-06-06	354.68	460.07	-40.24	1665	Downward Expansion	-67	65
2025-05-30	355.22	465.35	-40.06	661	Downward Expansion	-69	67
2025-05-23	344.63	470.55	-41.53	2764	Downward Expansion	-80	79
2025-05-16	363.43	476.10	-39.35	2074	Downward Expansion	-72	85
2025-05-09	359.40	482.27	-39.97	1674	Downward Expansion	-78	91
2025-05-02	371.48	488.43	-37.49	1116	Downward Expansion	-73	90
2025-04-25	370.94	494.10	-35.85	2189	Downward Expansion	-80	92
2025-04-18	378.05	500.18	-32.06	799	Downward Expansion	-85	94
2025-04-11	374.67	505.74	-30.47	1872	Downward Expansion	-94	96
2025-04-04	405.85	511.44	-26.25	2228	Downward Expansion	-93	90
2025-03-28	462.59	516.30	-23.28	1295	Downward Expansion	-75	79
2025-03-21	474.53	519.10	-23.23	1014	Downward Expansion	-71	76
2025-03-14	472.64	521.21	-24.31	911	Balance	-75	71
2025-03-07	481.44	523.57	-23.46	878	Balance	-62	48
2025-02-28	498.63	525.57	-19.66	518	Balance	-49	34
2025-02-21	508.87	527.33	-17.47	873	Rotation Up	-13	11
2025-02-14	506.88	528.82	-19.01	1151	Rotation Up	5	27
2025-02-07	545.83	528.13	-10.31	938	Rotation Up	26	57
2025-01-31	575.05	526.64	-5.58	2590	Rotation Up	47	62
2025-01-24	544.44	523.91	-9.40	707	Rotation Up	31	36
2025-01-17	542.65	522.87	-7.86	931	Downward Expansion	18	23
2025-01-10	529.84	522.28	-7.24	481	Downward Expansion	-16	14
2025-01-03	509.56	522.27	-9.62	264	Downward Expansion	-38	25
2024-12-27	500.92	523.13	-11.72	425	Downward Expansion	-43	31
2024-12-20	500.03	523.60	-11.64	2793	Downward Expansion	-54	38
2024-12-13	497.84	524.66	-14.46	999	Downward Expansion	-59	45
2024-12-06	497.26	526.17	-14.69	720	Downward Expansion	-62	66
2024-11-29	499.24	527.79	-11.19	555	Downward Expansion	-64	72
2024-11-22	491.70	528.83	-11.29	1360	Downward Expansion	-70	76
2024-11-15	483.95	530.17	-12.31	1430	Rotation Down	-72	75
2024-11-08	512.84	530.90	-7.18	507	Rotation Down	-26	46
2024-11-01	511.45	531.40	-7.63	569	Upward Expansion	-26	29
2024-10-25	510.96	532.09	-8.79	986	Upward Expansion	3	10
2024-10-18	548.69	532.80	-3.10	1627	Upward Expansion	40	22
2024-10-11	544.02	532.25	-2.62	1019	Upward Expansion	38	21
2024-10-04	541.74	531.81	-1.85	622	Upward Expansion	50	28
2024-09-27	553.16	531.82	-1.74	1292	Upward Expansion	57	36
2024-09-20	544.92	530.89	0.52	578	Upward Expansion	52	33
2024-09-13	545.71	529.99	0.70	86	Upward Expansion	54	34
2024-09-06	551.47	528.62	3.92	347	Upward Expansion	62	46
2024-08-30	546.81	527.10	-0.29	882	Upward Expansion	59	50
2024-08-23	537.78	525.63	-0.72	631	Upward Expansion	54	51
2024-08-16	543.54	524.60	1.85	407	Balance	55	44
2024-08-09	541.35	523.16	4.78	822	Balance	42	31
2024-08-02	551.28	521.67	7.03	1171	Balance	38	21
2024-07-26	553.76	519.45	3.12	3125	Rotation Down	2	16
2024-07-19	486.04	516.87	-8.31	977	Rotation Down	-46	62
2024-07-12	501.07	516.50	-8.61	724	Rotation Down	-23	40
2024-07-05	493.38	515.60	-8.81	1069	Balance	-31	29
2024-06-28	513.07	514.18	-4.12	829	Balance	4	6
2024-06-21	525.18	512.14	-1.53	683	Upward Expansion	29	15
2024-06-14	529.25	509.41	0.04	329	Upward Expansion	33	15
2024-06-07	535.59	505.92	-1.81	387	Upward Expansion	44	24
2024-05-31	515.07	501.69	-5.34	440	Upward Expansion	44	29
2024-05-24	531.82	498.60	-3.42	643	Upward Expansion	57	43
2024-05-17	543.03	494.34	-1.58	933	Upward Expansion	65	48
2024-05-10	545.70	490.74	-1.49	741	Deceleration	69	41
2024-05-03	530.53	487.61	-0.18	822	Deceleration	44	28
2024-04-26	531.82	485.43	-0.89	866	Deceleration	47	30
2024-04-19	505.85	483.55	-3.60	1205	Upward Expansion	44	33
2024-04-12	527.96	482.38	-0.71	464	Upward Expansion	61	54
2024-04-05	532.22	480.73	-1.50	928	Upward Expansion	63	59
2024-03-29	532.22	479.04	-3.44	1411	Upward Expansion	66	69
2024-03-22	532.22	478.37	-2.20	491	Upward Expansion	69	82
2024-03-15	530.63	477.15	-1.33	1111	Upward Expansion	71	85
2024-03-08	542.14	475.59	1.19	868	Upward Expansion	88	90
2024-03-01	525.30	473.90	-1.68	1060	Upward Expansion	81	81
2024-02-23	517.97	472.86	-1.52	848	Upward Expansion	79	76
2024-02-16	504.69	472.44	-2.58	552	Rotation Up	67	73
2024-02-09	505.68	472.12	-1.53	490	Rotation Up	43	68
2024-02-02	502.91	470.73	-2.30	1104	Rotation Up	43	70
2024-01-26	506.67	469.48	-2.14	1291	Rotation Up	51	73
2024-01-19	500.33	468.28	-1.26	673	Rotation Up	40	65
2024-01-12	496.76	467.55	-3.18	537	Rotation Up	40	59
2024-01-05	484.78	467.15	-5.20	423	Rotation Up	33	40
2023-12-29	476.26	466.94	-8.02	183	Downward Expansion	25	35
2023-12-22	474.97	467.14	-8.50	546	Downward Expansion	-3	24
2023-12-15	473.88	467.57	-9.38	833	Downward Expansion	-8	23
2023-12-08	451.05	467.88	-14.21	946	Downward Expansion	-38	26
2023-12-01	451.84	468.70	-12.70	951	Downward Expansion	-47	35
2023-11-24	443.03	469.94	-12.90	677	Downward Expansion	-62	52
2023-11-17	424.61	471.68	-16.36	4258	Downward Expansion	-67	82
2023-11-10	408.77	474.61	-16.30	1573	Downward Expansion	-79	91
2023-11-03	422.24	478.54	-13.77	2420	Downward Expansion	-74	88
2023-10-27	404.02	481.76	-15.09	1846	Downward Expansion	-94	93
2023-10-20	435.11	485.62	-9.80	1831	Downward Expansion	-84	80
2023-10-13	451.84	488.02	-9.22	1630	Downward Expansion	-74	68

Price vs TrendAbove+25.9%

Trend directionRising+4.5%

Price vs current Fair ValuePremium+22.5%

Fair Value directionClosing upward+25.3%

Relative Strength vs benchmarkLeading+20.5%

Relative strength directionImproving+23.0%

Price momentumPositive+34.0%

Volume balanceDemand-led1.17×

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

79 / ±100

+10.3 points since 2026-09-04

Energy

72 /100

-16.3 points since 2026-09-04

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

TN8 Directional State ↗ TN8 Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance7

Rotation Up76

Upward Expansion85

Deceleration60

Rotation Down13

Downward Expansion12

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

2023-10-13 to 2026-10-02 · 156 classified observations out of 156 shown.

Balance 6%Rotation Up 15%Upward Expansion 31%Deceleration 3%Rotation Down 8%Downward Expansion 36%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-08-21	2026-10-02	Developing	+8.4%
Rotation Up	2026-07-17	2026-08-14	Developing	+9.7%
Downward Expansion	2026-04-03	2026-07-10	Established	+6.2%
Rotation Down	2026-02-13	2026-03-27	Developing	-3.4%
Upward Expansion	2026-01-16	2026-02-06	New	-15.2%
Deceleration	2026-01-02	2026-01-09	New	+3.6%
Upward Expansion	2025-10-10	2025-12-26	Developing	+8.0%
Rotation Up	2025-08-22	2025-10-03	Developing	+7.3%
Balance	2025-08-08	2025-08-15	New	+6.7%
Downward Expansion	2025-03-21	2025-08-01	Established	-17.2%
Balance	2025-02-28	2025-03-14	New	-5.2%
Rotation Up	2025-01-24	2025-02-21	Developing	-6.5%
Downward Expansion	2024-11-22	2025-01-17	Developing	+10.4%
Rotation Down	2024-11-08	2024-11-15	New	-5.6%

Classic Stage Analysis comparison

Stage 1 · Basing25

Stage 2 · Advancing100

Stage 3 · Distribution51

Stage 4 · Declining0

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

Leadership versus ^GDAXI

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: 88/100
Current Relative Strength: 20.52
Relative Strength direction: Improving
Price momentum: +34.0%
Excess performance vs benchmark: +25.1%
Healthcare regime cohort: 55th percentile22 in cohort

Test TN8 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.30×

Latest completed volume relative to typical participation.

Up/down volume1.17×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+100.0%

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 TN8 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity EUR 570.04rising

Slow Activity EUR 491.19rising

Trend Reference EUR 461.15+25.9% close margin

Current Fair Value EUR 473.82+22.5% close margin

Structural low EUR 374.57shock / 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 +3.6%

Annualized volatility +30.8%

From structural high -3.6%

From structural low +55.0%

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 ^GDAXI	Regime survived	Read
Near term	15	-0.6%-20.6% to +9.3%	+46.7%	+46.7%	-0.1%	+66.7%	Usable descriptive sample
Intermediate	6	-3.7%-17.0% to +14.8%	+50.0%	+50.0%	-8.5%	+33.3%	Usable descriptive sample
Extended	4	-5.3%-6.1% to +3.8%	+25.0%	+25.0%	-11.7%	+25.0%	Too little matched history
Full cycle	2	-7.5%-13.3% to -1.8%	+0.0%	+0.0%	-30.3%	+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.

TN8 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 ↗

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