Weekly structural research · LSE · Basic Materials

ATM Stage Analysis

Andrada Mining Limited

Week ending 25 Sep 2026Close GBP 0.071Tenure DevelopingBenchmark ^FTSE

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 expanding.

Direction 82−100 bearish to +100 bullish

Energy 91/100directional strength

Maturity 32/100lifecycle context

Confidence 81/100evidence agreement

Trend gate Upstructural direction

Activity structure Wideexpanding separation

Price acceptance +83.3%position within the Activity structure

Fair Value context +86.2%GBP 0.0381 · 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	0.071	0.0436	70.17	46475213	Upward Expansion	82	91
2026-09-18	0.071	0.0426	73.48	73864230	Upward Expansion	90	96
2026-09-11	0.059	0.0415	46.74	66829770	Upward Expansion	67	88
2026-09-04	0.0648	0.0408	59.92	30035981	Upward Expansion	91	96
2026-08-28	0.059	0.04	47.43	118109937	Upward Expansion	90	94
2026-08-21	0.0566	0.0394	42.96	22645650	Upward Expansion	90	84
2026-08-14	0.0455	0.0389	16.83	10522821	Balance	69	57
2026-08-07	0.0395	0.0388	0.53	2306919	Balance	15	21
2026-07-31	0.0385	0.0388	-1.52	761383	Balance	11	18
2026-07-24	0.041	0.0386	6.30	2756443	Balance	45	29
2026-07-17	0.043	0.0384	13.16	8850002	Balance	52	20
2026-07-10	0.037	0.0381	-1.17	372388	Balance	-23	16
2026-07-03	0.037	0.0382	-2.65	2290831	Balance	-5	8
2026-06-26	0.0375	0.038	0.46	905373	Balance	-0	8
2026-06-19	0.038	0.0379	3.41	979375	Balance	21	15
2026-06-12	0.039	0.0378	5.27	18619420	Upward Expansion	28	14
2026-06-05	0.037	0.0376	1.15	45290177	Upward Expansion	25	11
2026-05-29	0.038	0.0374	3.79	28974489	Upward Expansion	47	26
2026-05-22	0.0415	0.0372	13.09	26832828	Upward Expansion	56	53
2026-05-15	0.0408	0.0367	14.47	19923950	Upward Expansion	55	54
2026-05-08	0.0415	0.0364	16.28	23001590	Upward Expansion	56	46
2026-05-01	0.043	0.0361	19.32	26967971	Balance	52	37
2026-04-24	0.041	0.0357	14.02	38414967	Balance	42	22
2026-04-17	0.04	0.0354	8.57	22302559	Rotation Down	2	14
2026-04-10	0.0345	0.0351	-5.45	18270371	Rotation Down	-16	33
2026-04-03	0.033	0.0351	-8.20	11711989	Deceleration	-14	29
2026-03-27	0.0298	0.0352	-13.39	20607118	Deceleration	-25	24
2026-03-20	0.0325	0.0353	-5.61	19907356	Deceleration	13	9
2026-03-13	0.0375	0.0352	4.92	20836490	Deceleration	35	18
2026-03-06	0.04	0.035	11.06	55688393	Deceleration	39	21
2026-02-27	0.0415	0.0346	9.03	56481448	Upward Expansion	45	23
2026-02-20	0.038	0.0342	2.77	12674995	Upward Expansion	40	23
2026-02-13	0.039	0.034	8.51	50225738	Upward Expansion	54	35
2026-02-06	0.0385	0.0336	8.54	32651884	Upward Expansion	58	55
2026-01-30	0.042	0.0333	20.73	109707181	Upward Expansion	62	62
2026-01-23	0.0425	0.0328	24.40	98044625	Upward Expansion	66	58
2026-01-16	0.0426	0.0323	24.74	106742033	Upward Expansion	70	48
2026-01-09	0.0373	0.0318	11.39	42436996	Upward Expansion	56	30
2026-01-02	0.0345	0.0316	5.33	10081540	Upward Expansion	49	32
2025-12-26	0.035	0.0313	8.21	15288540	Upward Expansion	51	37
2025-12-19	0.0345	0.031	6.93	15391717	Upward Expansion	52	42
2025-12-12	0.038	0.0309	21.33	40389275	Balance	68	56
2025-12-05	0.0335	0.0306	7.34	21985985	Balance	50	42
2025-11-28	0.033	0.0305	5.33	49786204	Balance	46	36
2025-11-21	0.0343	0.0304	11.60	61396357	Balance	51	32
2025-11-14	0.0335	0.0302	7.62	21765112	Balance	48	18
2025-11-07	0.032	0.03	3.22	12487447	Balance	20	13
2025-10-31	0.031	0.0298	-0.42	30914045	Balance	23	14
2025-10-24	0.028	0.0297	-9.58	10157813	Balance	12	10
2025-10-17	0.0295	0.03	-2.31	25006074	Upward Expansion	26	12
2025-10-10	0.0335	0.0301	9.52	24382551	Upward Expansion	51	24
2025-10-03	0.0323	0.0303	4.50	25884434	Upward Expansion	48	26
2025-09-26	0.032	0.0302	5.32	16266466	Upward Expansion	52	36
2025-09-19	0.0305	0.0298	0.71	15551444	Upward Expansion	55	47
2025-09-12	0.035	0.0295	14.11	14006905	Upward Expansion	68	62
2025-09-05	0.034	0.0291	11.38	45891941	Balance	66	52
2025-08-29	0.0325	0.0288	6.59	18028833	Balance	61	41
2025-08-22	0.0306	0.0284	-1.38	13232040	Balance	49	32
2025-08-15	0.03	0.0281	-1.91	19263470	Balance	45	29
2025-08-08	0.0295	0.0278	-3.67	11116582	Balance	40	25
2025-08-01	0.03	0.0276	-2.18	11721993	Balance	43	23
2025-07-25	0.031	0.0274	0.23	18923875	Balance	39	17
2025-07-18	0.028	0.027	-8.42	8957718	Balance	12	7
2025-07-11	0.028	0.0269	-8.57	10463821	Balance	12	6
2025-07-04	0.0275	0.0268	-9.72	8970577	Balance	9	5
2025-06-27	0.0285	0.0267	-6.93	16806364	Balance	14	9
2025-06-20	0.0285	0.0267	-7.43	9295241	Balance	14	12
2025-06-13	0.0285	0.0266	-8.97	18964867	Balance	16	11
2025-06-06	0.0265	0.0264	-16.34	15010331	Balance	14	8
2025-05-30	0.027	0.0265	-15.32	6919851	Balance	40	19
2025-05-23	0.03	0.0265	-6.70	6476305	Balance	46	26
2025-05-16	0.031	0.0266	-4.50	12935175	Balance	51	26
2025-05-09	0.03	0.0267	-7.17	6910571	Balance	34	16
2025-05-02	0.03	0.0268	-8.63	15043253	Balance	32	19
2025-04-25	0.0285	0.027	-12.40	9879115	Balance	3	11
2025-04-18	0.026	0.0272	-19.86	5099824	Rotation Up	6	6
2025-04-11	0.027	0.0275	-15.08	19777299	Rotation Up	28	25
2025-04-04	0.0285	0.0278	-12.63	28818796	Rotation Up	33	56
2025-03-28	0.0348	0.0279	-1.70	28983627	Rotation Up	30	53
2025-03-21	0.0335	0.0279	-5.80	15769507	Rotation Up	31	49
2025-03-14	0.04	0.0279	11.79	171612143	Rotation Up	44	40
2025-03-07	0.0278	0.0278	-23.41	256406401	Downward Expansion	-17	11
2025-02-28	0.0204	0.028	-45.27	28727267	Downward Expansion	-67	41
2025-02-21	0.022	0.0283	-40.90	20284372	Downward Expansion	-50	35
2025-02-14	0.0235	0.0286	-38.24	37849323	Downward Expansion	-46	36
2025-02-07	0.0242	0.0291	-36.84	86620368	Downward Expansion	-59	45
2025-01-31	0.02	0.0295	-48.38	15783037	Downward Expansion	-75	57
2025-01-24	0.0218	0.0301	-43.45	8529012	Downward Expansion	-67	53
2025-01-17	0.0225	0.0306	-42.29	12882517	Downward Expansion	-64	59
2025-01-10	0.0235	0.0312	-38.77	20785216	Downward Expansion	-63	65
2025-01-03	0.0222	0.0319	-42.70	15945601	Downward Expansion	-68	73
2024-12-27	0.0218	0.0328	-44.44	2016603	Downward Expansion	-75	66
2024-12-20	0.0222	0.0336	-43.61	11261734	Downward Expansion	-76	55
2024-12-13	0.0252	0.0346	-38.66	17142347	Downward Expansion	-65	52
2024-12-06	0.0265	0.0353	-36.76	11397420	Downward Expansion	-62	60
2024-11-29	0.0275	0.036	-35.28	19785341	Downward Expansion	-65	73
2024-11-22	0.0245	0.0367	-43.07	19538756	Downward Expansion	-76	82
2024-11-15	0.0245	0.0376	-42.63	10229825	Downward Expansion	-82	82
2024-11-08	0.0275	0.0386	-36.72	13315136	Downward Expansion	-74	70
2024-11-01	0.029	0.0394	-35.13	13406164	Downward Expansion	-69	51
2024-10-25	0.0315	0.0399	-31.21	4312062	Downward Expansion	-60	35
2024-10-18	0.0335	0.0402	-28.81	5743754	Downward Expansion	-51	28
2024-10-11	0.0345	0.0406	-26.71	6045749	Downward Expansion	-38	22
2024-10-04	0.035	0.041	-26.82	7195922	Downward Expansion	-38	22
2024-09-27	0.0345	0.0414	-29.17	1997687	Deceleration	-42	30
2024-09-20	0.035	0.0418	-28.48	6946961	Deceleration	-44	32
2024-09-13	0.036	0.042	-28.04	32508798	Downward Expansion	-44	33
2024-09-06	0.0318	0.0423	-36.86	10434970	Downward Expansion	-66	44
2024-08-30	0.034	0.0426	-35.21	5662007	Downward Expansion	-59	42
2024-08-23	0.035	0.0428	-33.99	4529228	Downward Expansion	-60	49
2024-08-16	0.036	0.0431	-33.00	15513066	Downward Expansion	-63	61
2024-08-09	0.033	0.0434	-38.39	14115244	Downward Expansion	-66	77
2024-08-02	0.031	0.044	-43.01	9301616	Downward Expansion	-80	86
2024-07-26	0.032	0.0447	-42.90	28582609	Downward Expansion	-83	85
2024-07-19	0.036	0.0454	-35.73	9071603	Downward Expansion	-73	79
2024-07-12	0.0375	0.0459	-34.87	9080814	Downward Expansion	-70	76
2024-07-05	0.0375	0.0466	-35.47	8981840	Downward Expansion	-71	72
2024-06-28	0.0385	0.0472	-34.43	40948404	Balance	-69	63
2024-06-21	0.039	0.0478	-35.09	41295398	Balance	-59	43
2024-06-14	0.046	0.0484	-23.95	6881741	Balance	-25	12
2024-06-07	0.0465	0.0488	-24.73	7762140	Balance	-21	11
2024-05-31	0.0485	0.0491	-22.22	17242244	Balance	-21	10
2024-05-24	0.05	0.0495	-20.63	16402499	Balance	-15	8
2024-05-17	0.0475	0.0497	-25.93	11878181	Balance	-10	7
2024-05-10	0.048	0.0501	-25.59	9459836	Balance	-6	16
2024-05-03	0.0485	0.0505	-23.11	7569734	Balance	-5	20
2024-04-26	0.0505	0.0509	-19.27	16678473	Balance	-6	19
2024-04-19	0.0544	0.0515	-10.41	32372296	Balance	6	12
2024-04-12	0.051	0.0521	-17.07	26517265	Downward Expansion	-23	16
2024-04-05	0.044	0.0529	-27.74	7302298	Downward Expansion	-52	33
2024-03-29	0.042	0.0539	-31.47	7425682	Downward Expansion	-50	30
2024-03-22	0.044	0.0548	-28.12	4278698	Downward Expansion	-40	24
2024-03-15	0.0475	0.0556	-20.32	18820909	Downward Expansion	-39	26
2024-03-08	0.047	0.0563	-20.30	14356554	Downward Expansion	-45	35
2024-03-01	0.045	0.057	-23.82	13583224	Downward Expansion	-60	49
2024-02-23	0.043	0.0579	-27.40	7517657	Downward Expansion	-64	66
2024-02-16	0.043	0.0588	-27.52	6786612	Downward Expansion	-66	76
2024-02-09	0.0425	0.06	-27.14	20509395	Downward Expansion	-68	80
2024-02-02	0.04	0.0611	-31.95	12727209	Downward Expansion	-82	85
2024-01-26	0.0435	0.0622	-26.43	12351532	Downward Expansion	-77	72
2024-01-19	0.0465	0.0633	-19.78	10384939	Downward Expansion	-73	65
2024-01-12	0.049	0.0646	-17.44	11661640	Downward Expansion	-70	59
2024-01-05	0.0534	0.0653	-10.98	6757219	Downward Expansion	-58	48
2023-12-29	0.0515	0.0655	-14.63	4075310	Downward Expansion	-68	47
2023-12-22	0.053	0.0658	-11.92	19238957	Downward Expansion	-66	44
2023-12-15	0.056	0.0661	-5.41	7657740	Downward Expansion	-59	41
2023-12-08	0.057	0.0661	-3.10	9680323	Downward Expansion	-57	42
2023-12-01	0.057	0.0661	-2.49	13955457	Downward Expansion	-60	46
2023-11-24	0.056	0.0658	-3.27	11260034	Rotation Down	-66	50
2023-11-17	0.057	0.0656	-1.37	23514130	Rotation Down	-38	51
2023-11-10	0.057	0.0656	0.97	30874799	Rotation Down	-41	62
2023-11-03	0.059	0.0654	4.12	29136061	Rotation Down	-37	63
2023-10-27	0.0575	0.065	3.89	18664753	Rotation Down	-36	65
2023-10-20	0.058	0.0646	3.81	18399020	Deceleration	-37	57
2023-10-13	0.0605	0.064	5.99	39089090	Deceleration	-10	30
2023-10-06	0.062	0.0633	10.69	16251334	Deceleration	-4	7

Price vs TrendAbove+62.9%

Trend directionRising+13.4%

Price vs current Fair ValuePremium+86.2%

Fair Value directionClosing upward+92.1%

Relative Strength vs benchmarkLeading+70.2%

Relative strength directionImproving+69.7%

Price momentumPositive+138.3%

Volume balanceDemand-led3.67×

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

82 / ±100

-8.4 points since 2026-08-28

Energy

91 /100

-3.0 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.

ATM Directional State ↗ ATM Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance7

Rotation Up84

Upward Expansion97

Deceleration42

Rotation Down8

Downward Expansion21

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

2023-10-06 to 2026-09-25 · 156 classified observations out of 156 shown.

Balance 32%Rotation Up 4%Upward Expansion 19%Deceleration 6%Rotation Down 5%Downward Expansion 35%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-08-21	2026-09-25	Developing	+25.4%
Balance	2026-06-19	2026-08-14	Developing	+19.7%
Upward Expansion	2026-05-08	2026-06-12	Developing	-6.0%
Balance	2026-04-24	2026-05-01	New	+4.9%
Rotation Down	2026-04-10	2026-04-17	New	+15.9%
Deceleration	2026-03-06	2026-04-03	Developing	-17.5%
Upward Expansion	2025-12-19	2026-02-27	Developing	+20.3%
Balance	2025-10-24	2025-12-12	Developing	+35.7%
Upward Expansion	2025-09-12	2025-10-17	Developing	-15.7%
Balance	2025-04-25	2025-09-05	Established	+19.3%
Rotation Up	2025-03-14	2025-04-18	Developing	-35.0%
Downward Expansion	2024-10-04	2025-03-07	Established	-20.7%
Deceleration	2024-09-20	2024-09-27	New	-1.4%
Downward Expansion	2024-07-05	2024-09-13	Developing	-4.0%

Classic Stage Analysis comparison

Stage 1 · Basing20

Stage 2 · Advancing100

Stage 3 · Distribution50

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 ^FTSE

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: 99/100
Current Relative Strength: 70.17
Relative Strength direction: Improving
Price momentum: +138.3%
Excess performance vs benchmark: +131.0%
Basic Materials regime cohort: 80th percentile35 in cohort

Test ATM trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.76×

Latest completed volume relative to typical participation.

Up/down volume3.67×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 1

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+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 ATM Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity GBP 0.067rising

Slow Activity GBP 0.0481rising

Trend Reference GBP 0.0436+62.9% close margin

Current Fair Value GBP 0.0381+86.2% close margin

Structural low GBP 0.029shock / 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 +9.6%

Annualized volatility +58.8%

From structural high -5.3%

From structural low +173.1%

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 ^FTSE	Regime survived	Read
Near term	16	-1.9%-26.8% to +26.1%	+43.8%	+43.8%	-2.5%	+62.5%	Usable descriptive sample
Intermediate	7	-4.8%-37.9% to +34.2%	+42.9%	+42.9%	-6.0%	+14.3%	Usable descriptive sample
Extended	4	-4.7%-44.1% to +37.5%	+50.0%	+50.0%	-9.7%	+25.0%	Too little matched history
Full cycle	3	-9.4%-23.1% to +68.6%	+33.3%	+33.3%	-13.4%	+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.

ATM 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

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