Weekly structural research · TWO · Industrials

8349 Stage Analysis

QST International Corp.

Week ending 25 Sep 2026Close TWD 39.60Tenure EstablishedBenchmark ^TWII

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Downward Expansion · Established 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: weakening.
Activity structure: moderate and expanding.

Direction -58−100 bearish to +100 bullish

Energy 51/100directional strength

Maturity 27/100lifecycle context

Confidence 95/100evidence agreement

Trend gate Downstructural direction

Activity structure Moderateexpanding separation

Price acceptance -83.3%position within the Activity structure

Fair Value context -14.8%TWD 46.49 · 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
2026-09-25	39.60	40.27	-30.65	597349	Downward Expansion	-58	51
2026-09-18	37.90	40.25	-33.47	410545	Downward Expansion	-75	69
2026-09-11	38.40	40.36	-32.12	536338	Downward Expansion	-69	59
2026-09-04	38.95	40.47	-32.69	539305	Downward Expansion	-61	47
2026-08-28	39.20	40.58	-32.87	109920	Downward Expansion	-57	41
2026-08-21	39.40	40.68	-31.79	40994	Downward Expansion	-55	37
2026-08-14	39.20	40.81	-33.96	32000	Downward Expansion	-59	30
2026-08-07	39.70	40.89	-31.81	69375	Downward Expansion	-41	22
2026-07-31	39.70	40.99	-31.32	84399	Downward Expansion	-51	27
2026-07-24	40.15	41.06	-32.42	44000	Downward Expansion	-51	28
2026-07-17	39.35	41.12	-33.23	81080	Downward Expansion	-55	40
2026-07-10	39.50	41.24	-37.89	351253	Downward Expansion	-53	40
2026-07-03	39.80	41.36	-40.28	682270	Downward Expansion	-51	38
2026-06-26	39.15	41.50	-39.33	1061842	Balance	-58	41
2026-06-19	39.40	41.62	-42.28	987163	Balance	-58	45
2026-06-12	40.41	41.72	-38.67	1029868	Balance	-49	38
2026-06-05	41.13	41.78	-39.72	836754	Balance	-39	30
2026-05-29	39.93	41.77	-41.89	1310318	Balance	-42	28
2026-05-22	39.93	41.86	-39.36	565333	Balance	-39	19
2026-05-15	39.83	42.00	-38.73	874725	Rotation Up	-4	11
2026-05-08	43.39	42.18	-34.86	1565066	Rotation Up	19	38
2026-05-01	43.49	42.22	-31.17	1455024	Balance	19	29
2026-04-24	44.69	42.28	-30.22	1913748	Balance	28	26
2026-04-17	43.44	42.31	-29.11	1530053	Downward Expansion	-11	8
2026-04-10	42.09	42.32	-29.46	1147398	Downward Expansion	-31	18
2026-04-03	39.40	42.36	-29.07	578827	Downward Expansion	-60	32
2026-03-27	39.64	42.45	-30.60	807375	Downward Expansion	-61	37
2026-03-20	41.18	42.50	-29.59	1012085	Downward Expansion	-56	49
2026-03-13	41.61	42.61	-29.29	1738885	Downward Expansion	-59	61
2026-03-06	38.58	42.77	-35.48	890628	Downward Expansion	-80	78
2026-02-27	39.06	43.17	-38.75	980589	Downward Expansion	-77	69
2026-02-13	41.08	43.40	-32.90	331397	Downward Expansion	-59	40
2026-02-06	41.66	43.57	-28.79	439805	Downward Expansion	-51	24
2026-01-30	42.14	43.72	-29.24	424749	Downward Expansion	-39	19
2026-01-23	42.29	43.84	-29.38	721884	Downward Expansion	-46	21
2026-01-16	43.39	43.98	-26.85	896345	Downward Expansion	-43	23
2026-01-09	41.61	43.99	-27.80	481715	Downward Expansion	-56	42
2026-01-02	42.62	44.09	-24.30	299917	Downward Expansion	-49	33
2025-12-26	41.66	44.16	-24.52	216049	Downward Expansion	-57	37
2025-12-19	42.05	44.24	-22.08	279898	Downward Expansion	-43	21
2025-12-12	42.91	44.30	-22.45	479768	Downward Expansion	-33	16
2025-12-05	43.11	44.37	-22.10	258998	Downward Expansion	-36	19
2025-11-28	43.97	44.41	-20.16	603189	Downward Expansion	-49	27
2025-11-21	43.01	44.46	-18.99	717596	Downward Expansion	-57	57
2025-11-14	42.14	44.52	-23.93	879319	Downward Expansion	-58	64
2025-11-07	42.29	44.53	-24.92	531733	Downward Expansion	-58	60
2025-10-31	40.89	44.56	-29.50	946728	Balance	-68	57
2025-10-24	42.62	44.79	-25.34	801024	Balance	-53	26
2025-10-17	44.16	44.98	-22.62	473237	Balance	-27	14
2025-10-10	45.03	45.11	-21.76	408439	Balance	-21	16
2025-10-03	44.89	45.21	-21.13	244254	Balance	-26	16
2025-09-26	45.22	45.35	-17.54	338214	Downward Expansion	-28	12
2025-09-19	45.46	45.56	-17.72	582061	Downward Expansion	-44	29
2025-09-12	43.74	45.79	-21.12	396687	Downward Expansion	-57	59
2025-09-05	43.35	46.03	-19.40	747186	Downward Expansion	-56	52
2025-08-29	42.17	46.28	-21.26	404638	Balance	-65	48
2025-08-22	41.03	46.56	-22.38	1761773	Balance	-56	29
2025-08-15	44.61	46.83	-18.08	1010535	Rotation Up	-18	17
2025-08-08	46.36	46.97	-14.31	481740	Rotation Up	18	36
2025-08-01	50.42	47.09	-5.00	227778	Balance	46	54
2025-07-25	46.19	47.11	-13.01	468612	Balance	-8	14
2025-07-18	46.10	47.27	-13.59	251651	Balance	-12	16
2025-07-11	46.01	47.47	-11.56	311446	Balance	-19	13
2025-07-04	45.75	47.72	-11.43	230745	Downward Expansion	-32	16
2025-06-27	46.54	47.95	-10.20	591276	Downward Expansion	-35	20
2025-06-20	43.69	48.21	-13.73	379903	Downward Expansion	-57	35
2025-06-13	44.70	48.52	-12.06	645586	Downward Expansion	-44	32
2025-06-06	44.79	48.84	-10.52	367967	Downward Expansion	-55	37
2025-05-30	44.03	49.20	-11.06	298374	Downward Expansion	-58	41
2025-05-23	43.86	49.64	-13.03	525837	Downward Expansion	-62	42
2025-05-16	44.87	50.08	-12.17	841072	Downward Expansion	-57	42
2025-05-09	44.37	50.51	-9.86	627489	Downward Expansion	-62	51
2025-05-02	45.38	50.98	-7.66	702537	Downward Expansion	-64	62
2025-04-25	44.79	51.42	-5.03	1323422	Downward Expansion	-65	69
2025-04-18	42.52	51.86	-7.99	1077803	Downward Expansion	-86	81
2025-04-11	43.11	52.36	-7.55	3557377	Downward Expansion	-88	74
2025-04-04	47.99	52.84	-5.80	999749	Downward Expansion	-65	67
2025-03-28	48.24	53.11	-6.77	5210192	Downward Expansion	-65	66
2025-03-21	47.99	53.34	-9.93	1103811	Downward Expansion	-73	67
2025-03-14	47.99	53.56	-9.12	1352120	Downward Expansion	-74	48
2025-03-07	49.17	53.81	-9.47	1617141	Downward Expansion	-56	32
2025-02-28	51.61	54.02	-7.10	533853	Downward Expansion	-35	24
2025-02-21	52.20	54.20	-8.82	1645064	Downward Expansion	-40	25
2025-02-14	51.03	54.33	-8.79	869569	Downward Expansion	-49	41
2025-02-07	51.03	54.41	-10.24	745141	Downward Expansion	-63	54
2025-01-24	50.53	54.47	-11.52	388817	Downward Expansion	-66	72
2025-01-17	49.04	54.51	-12.96	364304	Downward Expansion	-73	81
2025-01-10	48.71	54.56	-13.32	1313510	Downward Expansion	-81	85
2025-01-03	50.12	54.64	-10.75	691848	Rotation Down	-76	80
2024-12-27	51.03	54.74	-10.83	666223	Rotation Down	-45	65
2024-12-20	51.03	54.80	-8.04	464574	Rotation Down	-51	65
2024-12-13	51.86	54.96	-8.82	467916	Rotation Down	-48	60
2024-12-06	53.61	55.03	-6.75	208332	Rotation Down	-26	55
2024-11-29	52.78	55.17	-4.52	489083	Rotation Down	-34	54
2024-11-22	54.11	55.23	-4.98	330725	Deceleration	-24	38
2024-11-15	53.19	55.21	-6.04	804372	Deceleration	-33	33
2024-11-08	54.36	55.22	-7.43	960344	Deceleration	6	15
2024-11-01	55.52	55.10	-2.43	594922	Upward Expansion	28	16
2024-10-25	57.10	54.90	-2.21	1385926	Upward Expansion	43	29
2024-10-18	57.10	54.64	-2.95	811056	Upward Expansion	57	41
2024-10-11	57.76	54.38	0.51	501339	Upward Expansion	61	52
2024-10-04	58.60	54.03	4.59	511365	Upward Expansion	67	65
2024-09-27	58.60	53.59	2.09	952545	Upward Expansion	69	66
2024-09-20	57.85	53.14	3.63	506910	Upward Expansion	65	60
2024-09-13	57.68	52.71	5.09	497996	Upward Expansion	66	48
2024-09-06	57.52	52.28	6.32	1435709	Upward Expansion	66	41
2024-08-30	55.91	51.85	-0.46	1089348	Upward Expansion	57	36
2024-08-23	55.15	51.49	-1.29	730719	Upward Expansion	52	35
2024-08-16	54.77	51.13	-2.80	1334148	Upward Expansion	56	51
2024-08-09	55.45	50.80	2.40	1428394	Upward Expansion	60	66
2024-08-02	55.45	50.47	1.74	1591185	Upward Expansion	60	66
2024-07-26	56.89	50.13	2.20	1335371	Upward Expansion	73	64
2024-07-19	55.98	49.74	-2.59	2064870	Deceleration	69	42
2024-07-12	53.56	49.38	-10.87	1194611	Deceleration	32	16
2024-07-05	52.81	49.16	-10.91	1019581	Deceleration	30	22
2024-06-28	51.67	48.87	-11.05	995102	Deceleration	29	24
2024-06-21	50.61	48.62	-13.89	898406	Deceleration	32	27
2024-06-14	51.14	48.39	-10.38	1378211	Upward Expansion	41	27
2024-06-07	53.18	48.14	-4.23	1041613	Upward Expansion	48	38
2024-05-31	52.81	47.79	-1.91	2237452	Upward Expansion	63	55
2024-05-24	55.83	47.45	1.85	2424722	Upward Expansion	71	66
2024-05-17	53.86	47.03	-0.25	2773559	Upward Expansion	67	66
2024-05-10	57.95	46.69	10.14	2340267	Upward Expansion	92	93
2024-05-03	54.62	46.24	5.89	2941248	Upward Expansion	84	92
2024-04-26	53.33	45.95	4.48	3296203	Upward Expansion	83	92
2024-04-19	53.56	45.69	8.04	4428394	Upward Expansion	92	96
2024-04-12	50.69	45.42	-3.72	2269275	Upward Expansion	82	91
2024-04-05	49.71	45.27	-3.97	1659730	Upward Expansion	80	87
2024-03-29	49.27	45.05	-4.82	1752752	Upward Expansion	81	83
2024-03-22	49.12	44.78	-4.97	2402692	Upward Expansion	84	77
2024-03-15	47.27	44.50	-6.17	1943695	Deceleration	72	54
2024-03-08	45.35	44.30	-10.63	1705016	Deceleration	47	22
2024-03-01	45.20	44.11	-7.19	635249	Deceleration	44	19
2024-02-23	44.83	43.98	-7.99	1069765	Deceleration	30	13
2024-02-16	44.90	43.86	-6.73	714809	Deceleration	31	15
2024-02-09	44.75	43.74	-4.75	203182	Deceleration	31	16
2024-02-02	44.98	43.65	-4.24	772335	Deceleration	34	17
2024-01-26	44.31	43.56	-5.34	1182372	Upward Expansion	35	19
2024-01-19	44.83	43.51	-2.49	893892	Upward Expansion	49	30
2024-01-12	45.72	43.51	0.48	1553240	Upward Expansion	57	38
2024-01-05	45.20	43.44	-0.63	747856	Upward Expansion	56	59
2023-12-29	45.27	43.35	-2.76	719705	Upward Expansion	56	62
2023-12-22	44.98	43.22	-1.67	1634024	Upward Expansion	56	61
2023-12-15	47.12	43.10	2.47	3363522	Deceleration	78	67
2023-12-08	44.09	42.90	-2.62	1269275	Deceleration	36	22
2023-12-01	44.16	42.79	-2.93	767440	Deceleration	36	16
2023-11-24	43.57	42.71	-3.51	664625	Deceleration	23	16
2023-11-17	43.64	42.68	-3.05	926557	Deceleration	22	20
2023-11-10	42.90	42.66	-1.90	717256	Deceleration	22	21
2023-11-03	42.61	42.70	-1.93	1232556	Deceleration	25	20
2023-10-27	43.05	42.72	1.17	727048	Upward Expansion	41	24
2023-10-20	43.79	42.70	0.84	468785	Upward Expansion	58	42
2023-10-13	44.46	42.64	-0.07	495714	Upward Expansion	63	71
2023-10-06	45.79	42.53	3.88	646265	Upward Expansion	69	80
2023-09-29	45.64	42.39	3.98	531209	Upward Expansion	71	77
2023-09-22	45.57	42.31	3.30	1022030	Balance	73	65

Price vs TrendBelow-1.7%

Trend directionFalling-2.1%

Price vs current Fair ValueBelow anchor-14.8%

Fair Value directionClosing upward+1.4%

Relative Strength vs benchmarkLagging-30.7%

Relative strength directionImproving+8.7%

Price momentumNegative-0.1%

Volume balanceSupply-led0.64×

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

-58 / ±100

-0.9 points since 2026-08-28

Energy

51 /100

+9.9 points since 2026-08-28

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

8349 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance17

Rotation Up18

Upward Expansion10

Deceleration42

Rotation Down59

Downward Expansion85

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

2023-09-22 to 2026-09-25 · 156 classified observations out of 156 shown.

Balance 13%Rotation Up 3%Upward Expansion 25%Deceleration 14%Rotation Down 4%Downward Expansion 42%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2026-07-03	2026-09-25	Established	-0.5%
Balance	2026-05-22	2026-06-26	Developing	-2.0%
Rotation Up	2026-05-08	2026-05-15	New	-8.2%
Balance	2026-04-24	2026-05-01	New	-2.7%
Downward Expansion	2025-11-07	2026-04-17	Established	+2.7%
Balance	2025-10-03	2025-10-31	Developing	-8.9%
Downward Expansion	2025-09-05	2025-09-26	New	+4.3%
Balance	2025-08-22	2025-08-29	New	+2.8%
Rotation Up	2025-08-08	2025-08-15	New	-3.8%
Balance	2025-07-11	2025-08-01	New	+9.6%
Downward Expansion	2025-01-10	2025-07-04	Established	-6.1%
Rotation Down	2024-11-29	2025-01-03	Developing	-5.0%
Deceleration	2024-11-08	2024-11-22	New	-0.5%
Upward Expansion	2024-07-26	2024-11-01	Established	-2.4%

Classic Stage Analysis comparison

Stage 1 · Basing74

Stage 2 · Advancing17

Stage 3 · Distribution33

Stage 4 · Declining83

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

Leadership versus ^TWII

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: 94/100
Current Relative Strength: -30.65
Relative Strength direction: Improving
Price momentum: -0.1%
Excess performance vs benchmark: -45.1%
Industrials regime cohort: 80th percentile153 in cohort

Test 8349 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.17×

Latest completed volume relative to typical participation.

Up/down volume0.64×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 2

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+12.5%

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 8349 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity TWD 38.79falling

Slow Activity TWD 39.78falling

Trend Reference TWD 40.27-1.7% close margin

Current Fair Value TWD 46.49-14.8% close margin

Structural low TWD 37.45shock / 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 +2.8%

Annualized volatility +19.8%

From structural high -13.4%

From structural low +8.2%

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 ^TWII	Regime survived	Read
Near term	26	+1.0%-10.2% to +16.8%	+53.8%	+46.2%	-1.6%	+80.8%	Usable descriptive sample
Intermediate	8	-1.3%-12.7% to +29.5%	+37.5%	+62.5%	-11.6%	+50.0%	Usable descriptive sample
Extended	5	-4.0%-7.7% to +19.9%	+20.0%	+80.0%	-8.4%	+40.0%	Usable descriptive sample
Full cycle	2	+7.2%-10.9% to +25.3%	+50.0%	+50.0%	-7.8%	+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.

8349 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 ↗

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

Similar Charts

RMI Reversal Map