Weekly structural research · GER · Financial Services

MULT Stage Analysis

Multitude AG

Week ending 9 Oct 2026Close EUR 5.76Tenure DevelopingBenchmark ^GDAXI

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Rotation Up · Value reclamation

The Activity Line structure is rotating upward.

Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair.

The Trend gate is up within the current regime.
Fast Activity versus Slow Activity: improving.
Activity structure: moderate and contracting.

Direction 51−100 bearish to +100 bullish

Energy 32/100directional strength

Maturity 26/100lifecycle context

Confidence 51/100evidence agreement

Trend gate Upstructural direction

Activity structure Moderatecontracting separation

Price acceptance +33.3%position within the Activity structure

Fair Value context +14.7%EUR 5.02 · 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	5.76	5.66	-1.54	48649	Rotation Up	51	32
2026-10-02	6.10	5.66	3.43	75675	Rotation Up	45	33
2026-09-25	5.82	5.64	-2.24	15490	Rotation Up	20	18
2026-09-18	5.72	5.64	-3.88	29902	Rotation Up	17	29
2026-09-11	5.76	5.64	-4.59	27147	Rotation Up	21	49
2026-09-04	5.70	5.66	-7.66	1009	Rotation Up	20	35
2026-08-28	5.88	5.66	-7.06	3469	Rotation Up	23	34
2026-08-21	6.04	5.65	-3.24	11773	Downward Expansion	21	23
2026-08-14	5.92	5.65	-6.56	26720	Downward Expansion	-14	10
2026-08-07	5.22	5.63	-17.48	7918	Downward Expansion	-60	47
2026-07-31	5.20	5.66	-15.90	4468	Downward Expansion	-63	45
2026-07-24	5.24	5.68	-13.86	9088	Downward Expansion	-61	44
2026-07-17	5.48	5.69	-9.41	3220	Downward Expansion	-53	46
2026-07-10	5.38	5.69	-12.26	1696	Downward Expansion	-55	49
2026-07-03	5.24	5.70	-17.37	3628	Downward Expansion	-62	52
2026-06-26	5.30	5.70	-13.20	7159	Balance	-61	52
2026-06-19	5.50	5.71	-11.46	2428	Balance	-25	35
2026-06-12	5.56	5.72	-9.62	3771	Balance	-24	32
2026-06-05	5.32	5.75	-14.38	19220	Balance	-25	25
2026-05-29	5.50	5.78	-13.10	70535	Balance	-7	12
2026-05-22	5.74	5.80	-8.89	34858	Balance	-2	5
2026-05-15	5.64	5.83	-7.16	59617	Rotation Up	9	10
2026-05-08	6.00	5.85	-2.83	45712	Rotation Up	25	38
2026-05-01	5.98	5.85	-2.77	31777	Balance	25	31
2026-04-24	6.27	5.88	2.80	98578	Balance	33	29
2026-04-17	6.03	5.88	-3.24	83071	Balance	-6	10
2026-04-10	6.12	5.90	2.03	88771	Downward Expansion	-16	9
2026-04-03	5.77	5.91	-0.82	53235	Downward Expansion	-48	35
2026-03-27	5.34	5.93	-4.44	67909	Downward Expansion	-59	50
2026-03-20	5.31	5.96	-4.84	73588	Balance	-62	49
2026-03-13	5.70	6.01	-2.12	83245	Balance	-35	22
2026-03-06	5.57	6.03	-4.43	59298	Balance	-41	17
2026-02-27	5.80	6.04	-6.73	31467	Balance	-16	12
2026-02-20	5.82	6.05	-6.01	82084	Balance	-18	11
2026-02-13	6.11	6.08	0.42	80475	Balance	-9	8
2026-02-06	5.91	6.10	-1.69	72674	Downward Expansion	-34	20
2026-01-30	5.58	6.13	-6.19	63280	Downward Expansion	-41	21
2026-01-23	5.81	6.17	-3.49	34212	Downward Expansion	-35	20
2026-01-16	5.57	6.19	-8.66	64435	Downward Expansion	-46	26
2026-01-09	6.13	6.22	0.82	53006	Downward Expansion	-36	26
2026-01-02	5.75	6.25	-2.56	37991	Downward Expansion	-61	48
2025-12-26	5.51	6.28	-5.69	28886	Downward Expansion	-65	76
2025-12-19	5.50	6.31	-5.50	49127	Downward Expansion	-67	79
2025-12-12	5.52	6.33	-4.63	41426	Downward Expansion	-71	82
2025-12-05	5.38	6.33	-6.35	36358	Downward Expansion	-82	81
2025-11-28	5.68	6.33	-0.31	91367	Downward Expansion	-72	67
2025-11-21	5.72	6.31	3.82	109397	Deceleration	-46	48
2025-11-14	6.36	6.30	12.01	100691	Deceleration	-1	9
2025-11-07	6.20	6.25	10.99	32115	Deceleration	-5	11
2025-10-31	6.27	6.19	11.01	16820	Deceleration	9	10
2025-10-24	6.42	6.13	12.70	29835	Deceleration	19	8
2025-10-17	6.25	6.05	12.03	79398	Deceleration	15	8
2025-10-10	6.25	5.98	10.37	54849	Deceleration	31	17
2025-10-03	6.60	5.90	16.37	40898	Deceleration	43	26
2025-09-26	6.53	5.82	18.96	51013	Deceleration	42	26
2025-09-19	6.50	5.74	19.78	62343	Deceleration	39	23
2025-09-12	6.41	5.67	18.58	39770	Deceleration	37	24
2025-09-05	6.55	5.59	22.08	78651	Deceleration	43	27
2025-08-29	6.19	5.52	14.29	261876	Deceleration	33	17
2025-08-22	6.61	5.45	20.03	96125	Deceleration	41	24
2025-08-15	6.38	5.37	16.16	63277	Deceleration	34	23
2025-08-08	5.95	5.30	9.06	29246	Deceleration	39	23
2025-08-01	6.10	5.25	14.98	166003	Upward Expansion	46	39
2025-07-25	6.63	5.19	21.08	34145	Upward Expansion	61	58
2025-07-18	6.64	5.11	20.87	32963	Upward Expansion	63	61
2025-07-11	6.92	5.02	25.96	50314	Upward Expansion	74	66
2025-07-04	6.68	4.94	24.02	28669	Upward Expansion	68	65
2025-06-27	6.58	4.87	20.86	86391	Upward Expansion	66	66
2025-06-20	6.47	4.79	22.21	29570	Upward Expansion	68	80
2025-06-13	6.83	4.71	28.14	90646	Upward Expansion	83	93
2025-06-06	6.67	4.62	21.03	86251	Upward Expansion	88	95
2025-05-30	6.53	4.53	19.80	141900	Upward Expansion	94	97
2025-05-23	6.09	4.45	13.41	128054	Upward Expansion	92	95
2025-05-16	5.65	4.40	4.76	63476	Upward Expansion	88	95
2025-05-09	5.18	4.36	-2.94	86291	Upward Expansion	74	88
2025-05-02	5.20	4.32	-1.16	54854	Upward Expansion	80	89
2025-04-25	5.25	4.27	3.52	73947	Upward Expansion	87	87
2025-04-18	4.93	4.22	1.89	126166	Upward Expansion	79	68
2025-04-11	4.37	4.18	-6.09	117560	Balance	39	22
2025-04-04	4.47	4.18	-5.48	88912	Balance	42	16
2025-03-28	4.05	4.17	-21.38	26156	Balance	-31	42
2025-03-21	4.09	4.19	-22.55	20723	Balance	-19	35
2025-03-14	4.09	4.20	-23.21	19112	Balance	-16	28
2025-03-07	4.09	4.23	-23.34	26620	Balance	-43	30
2025-02-28	4.14	4.26	-21.13	24254	Balance	-38	18
2025-02-21	4.24	4.27	-18.29	45553	Balance	-30	13
2025-02-14	4.24	4.29	-19.41	53895	Balance	-20	8
2025-02-07	4.29	4.33	-15.89	60768	Balance	-16	7
2025-01-31	4.21	4.37	-17.49	32926	Balance	-31	12
2025-01-24	4.26	4.40	-15.23	42953	Balance	-28	11
2025-01-17	4.22	4.43	-14.26	22202	Balance	-29	13
2025-01-10	4.41	4.46	-7.60	60750	Balance	-20	12
2025-01-03	4.24	4.49	-9.82	8796	Balance	-19	10
2024-12-27	4.14	4.52	-12.56	20264	Balance	-19	13
2024-12-20	4.10	4.56	-12.93	32938	Balance	-21	14
2024-12-13	4.52	4.58	-6.44	51381	Balance	-8	11
2024-12-06	4.65	4.57	-3.67	61946	Downward Expansion	-8	6
2024-11-29	4.09	4.58	-11.73	38101	Downward Expansion	-48	29
2024-11-22	4.14	4.58	-9.47	37503	Downward Expansion	-47	29
2024-11-15	4.11	4.60	-9.46	58743	Downward Expansion	-37	22
2024-11-08	3.93	4.60	-13.17	41567	Downward Expansion	-43	25
2024-11-01	4.18	4.62	-7.22	34010	Downward Expansion	-33	22
2024-10-25	4.42	4.63	-2.56	22531	Downward Expansion	-39	22
2024-10-18	4.63	4.62	1.70	36593	Downward Expansion	-51	36
2024-10-11	4.01	4.61	-10.33	31785	Downward Expansion	-65	73
2024-10-04	3.65	4.60	-16.94	50211	Rotation Down	-75	81
2024-09-27	3.75	4.60	-16.15	40052	Rotation Down	-49	68
2024-09-20	3.67	4.60	-14.48	36256	Rotation Down	-55	67
2024-09-13	4.27	4.60	-0.37	28945	Rotation Down	-28	47
2024-09-06	4.38	4.58	4.85	47889	Balance	-25	31
2024-08-30	4.46	4.56	4.02	14616	Balance	-2	14
2024-08-23	4.51	4.53	7.32	34305	Balance	0	15
2024-08-16	5.02	4.51	21.96	24906	Upward Expansion	29	21
2024-08-09	4.90	4.47	24.15	61995	Upward Expansion	32	19
2024-08-02	4.38	4.44	12.59	85044	Upward Expansion	22	16
2024-07-26	5.08	4.42	25.95	75581	Upward Expansion	58	42
2024-07-19	5.43	4.38	38.01	152178	Upward Expansion	69	51
2024-07-12	5.31	4.30	32.25	70415	Upward Expansion	65	47
2024-07-05	5.25	4.25	33.75	77723	Upward Expansion	64	49
2024-06-28	5.17	4.19	34.82	57509	Upward Expansion	64	56
2024-06-21	4.93	4.14	30.41	51261	Upward Expansion	63	69
2024-06-14	5.43	4.08	45.89	45762	Upward Expansion	79	82
2024-06-07	5.24	3.99	38.05	90096	Upward Expansion	75	65
2024-05-31	5.10	3.89	35.97	130224	Upward Expansion	78	59
2024-05-24	4.78	3.79	26.96	88927	Upward Expansion	68	47
2024-05-17	4.38	3.71	16.75	134512	Upward Expansion	57	43
2024-05-10	4.78	3.65	27.25	71004	Upward Expansion	75	52
2024-05-03	4.21	3.58	17.60	121638	Upward Expansion	61	49
2024-04-26	4.62	3.53	28.20	18955	Upward Expansion	76	67
2024-04-19	4.20	3.47	19.71	65057	Upward Expansion	65	73
2024-04-12	4.61	3.42	30.47	107651	Upward Expansion	83	88
2024-04-05	4.26	3.36	19.56	116917	Upward Expansion	72	80
2024-03-29	4.32	3.31	19.29	15968	Upward Expansion	78	69
2024-03-22	4.20	3.26	17.96	61284	Deceleration	75	47
2024-03-15	3.82	3.21	8.86	93500	Deceleration	47	28
2024-03-08	3.60	3.18	3.24	25528	Deceleration	39	28
2024-03-01	3.64	3.15	4.63	23349	Deceleration	42	31
2024-02-23	3.69	3.11	8.03	17239	Deceleration	44	32
2024-02-16	3.85	3.08	15.03	23006	Upward Expansion	53	37
2024-02-09	3.67	3.05	11.05	47398	Upward Expansion	57	42
2024-02-02	3.62	3.02	9.89	27710	Upward Expansion	62	51
2024-01-26	3.77	2.99	14.43	114089	Upward Expansion	64	63
2024-01-19	3.97	2.96	23.77	63872	Upward Expansion	74	68
2024-01-12	3.92	2.93	21.73	96183	Upward Expansion	76	61
2024-01-05	3.84	2.90	20.55	66304	Upward Expansion	77	72
2023-12-29	3.67	2.88	14.72	29048	Upward Expansion	75	81
2023-12-22	3.29	2.86	3.69	20358	Rotation Up	65	81
2023-12-15	3.67	2.87	15.64	107454	Rotation Up	51	78
2023-12-08	3.46	2.85	9.52	114751	Rotation Up	47	52
2023-12-01	3.56	2.85	15.75	107407	Rotation Up	42	41
2023-11-24	3.33	2.84	11.33	169541	Rotation Up	-4	5
2023-11-17	2.63	2.84	-10.83	248246	Downward Expansion	-61	59
2023-11-10	2.14	2.86	-24.30	37297	Downward Expansion	-83	82
2023-11-03	2.34	2.90	-17.32	7106	Downward Expansion	-73	73
2023-10-27	2.34	2.94	-14.64	79440	Downward Expansion	-77	66
2023-10-20	2.60	2.97	-5.75	16370	Downward Expansion	-59	43

Price vs TrendAbove+1.7%

Trend directionFalling-0.1%

Price vs current Fair ValuePremium+14.7%

Fair Value directionClosing upward+2.1%

Relative Strength vs benchmarkLagging-1.5%

Relative strength directionImproving+10.7%

Price momentumNegative-5.9%

Volume balanceDemand-led1.74×

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

51 / ±100

+30.7 points since 2026-09-11

Energy

32 /100

-17.5 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.

MULT Directional State ↗ MULT Momentum Intelligence ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance39

Rotation Up46

Upward Expansion72

Deceleration71

Rotation Down18

Downward Expansion3

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 23%Rotation Up 9%Upward Expansion 29%Deceleration 14%Rotation Down 3%Downward Expansion 23%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Rotation Up	2026-08-28	2026-10-09	Developing	-2.0%
Downward Expansion	2026-07-03	2026-08-21	Developing	+15.3%
Balance	2026-05-22	2026-06-26	Developing	-7.7%
Rotation Up	2026-05-08	2026-05-15	New	-6.0%
Balance	2026-04-17	2026-05-01	New	-0.8%
Downward Expansion	2026-03-27	2026-04-10	New	+14.6%
Balance	2026-02-13	2026-03-20	Developing	-13.1%
Downward Expansion	2025-11-28	2026-02-06	Developing	+4.0%
Deceleration	2025-08-08	2025-11-21	Established	-3.9%
Upward Expansion	2025-04-18	2025-08-01	Established	+23.6%
Balance	2024-12-13	2025-04-11	Established	-3.4%
Downward Expansion	2024-10-11	2024-12-06	Developing	+16.1%
Rotation Down	2024-09-13	2024-10-04	New	-14.4%
Balance	2024-08-23	2024-09-06	New	-3.0%

Classic Stage Analysis comparison

Stage 1 · Basing65

Stage 2 · Advancing51

Stage 3 · Distribution63

Stage 4 · Declining49

Legacy result: Stage 3 · Stage 3A · Churning. 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

Lagging benchmark

Architecture confirmation: 53/100
Current Relative Strength: -1.54
Relative Strength direction: Improving
Price momentum: -5.9%
Excess performance vs benchmark: -11.3%
Financial Services regime cohort: 100th percentile3 in cohort

Test MULT trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume2.61×

Latest completed volume relative to typical participation.

Up/down volume1.74×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 2

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+37.5%

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 MULT Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity EUR 5.86rising

Slow Activity EUR 5.66rising

Trend Reference EUR 5.66+1.7% close margin

Current Fair Value EUR 5.02+14.7% close margin

Structural low EUR 5.10shock / repair context

What changes the read?

Full positive ordering with expanding width confirms Upward Expansion. Loss of the fast/slow repair and renewed downside acceptance cancels it.

Range context +5.5%

Annualized volatility +28.8%

From structural high -12.5%

From structural low +17.1%

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 ^GDAXI	Regime survived	Read
Near term	5	-1.0%-11.3% to +20.5%	+20.0%	+20.0%	+1.1%	+40.0%	Usable descriptive sample
Intermediate	3	+10.9%-13.0% to +22.4%	+66.7%	+66.7%	+2.2%	+0.0%	Too little matched history
Extended	2	+47.7%+43.7% to +51.7%	+100.0%	+100.0%	+34.4%	+0.0%	Too little matched history
Full cycle	2	+30.9%+24.4% to +37.4%	+100.0%	+100.0%	+15.5%	+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.

MULT Stage Analysis

What the Activity Line geometry says now

The Activity Line structure is rotating 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

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 Activity Line structure is rotating 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 ?

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 ↗

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