Weekly structural research · LSE · Industrials

JNEO Stage Analysis

Journeo plc

Week ending 9 Oct 2026Close GBP 542.00Tenure DevelopingBenchmark ^FTSE

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Upward Expansion · Established 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: weakening.
Activity structure: wide and expanding.

Direction 71−100 bearish to +100 bullish

Energy 71/100directional strength

Maturity 35/100lifecycle context

Confidence 94/100evidence agreement

Trend gate Upstructural direction

Activity structure Wideexpanding separation

Price acceptance +100.0%position within the Activity structure

Fair Value context +59.3%GBP 340.22 · 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	542.00	463.70	12.74	179165	Upward Expansion	71	71
2026-10-02	540.00	459.47	13.13	183379	Upward Expansion	71	80
2026-09-25	539.00	457.47	10.69	454781	Upward Expansion	73	80
2026-09-18	542.00	455.33	11.37	186605	Upward Expansion	82	83
2026-09-11	536.00	451.20	10.28	866397	Upward Expansion	84	88
2026-09-04	528.00	447.50	7.11	29445	Upward Expansion	85	91
2026-08-28	505.00	445.18	2.88	222312	Upward Expansion	72	86
2026-08-21	505.00	444.85	3.13	32061	Upward Expansion	76	87
2026-08-14	505.00	443.85	3.98	57560	Upward Expansion	81	86
2026-08-07	495.00	443.43	0.60	76026	Rotation Up	78	80
2026-07-31	476.50	443.67	-2.74	91325	Rotation Up	39	67
2026-07-24	480.00	444.72	-1.00	75957	Rotation Up	45	71
2026-07-17	477.50	445.68	-0.35	93153	Rotation Up	48	70
2026-07-10	480.00	445.10	1.23	36816	Rotation Up	43	63
2026-07-03	465.00	444.85	-3.54	31598	Balance	36	50
2026-06-26	450.00	445.43	-4.94	54084	Balance	6	20
2026-06-19	440.00	446.60	-5.46	36307	Balance	-6	12
2026-06-12	440.00	447.82	-6.16	77507	Downward Expansion	-16	10
2026-06-05	427.50	449.23	-7.60	42221	Downward Expansion	-49	29
2026-05-29	415.00	451.75	-10.37	124028	Downward Expansion	-52	37
2026-05-22	410.00	453.33	-11.63	451158	Downward Expansion	-54	32
2026-05-15	405.00	454.78	-10.06	321188	Downward Expansion	-46	26
2026-05-08	415.00	458.05	-7.80	198501	Downward Expansion	-38	20
2026-05-01	430.00	461.55	-5.25	170999	Downward Expansion	-36	20
2026-04-24	430.00	461.62	-4.97	134129	Downward Expansion	-41	27
2026-04-17	425.00	464.82	-8.12	222402	Downward Expansion	-56	44
2026-04-10	415.00	465.95	-9.29	96959	Downward Expansion	-58	64
2026-04-03	407.50	465.55	-9.12	268417	Downward Expansion	-57	67
2026-03-27	395.00	464.47	-7.41	401929	Rotation Down	-67	64
2026-03-20	390.00	464.30	-7.77	291669	Rotation Down	-43	32
2026-03-13	415.00	463.97	-4.83	237409	Rotation Down	-37	26
2026-02-27	480.00	463.72	3.91	253702	Rotation Down	-15	22
2026-02-20	475.00	460.55	5.49	426497	Rotation Down	-13	30
2026-02-13	418.00	459.18	-4.59	765734	Upward Expansion	-33	46
2026-02-06	425.00	459.25	-2.00	514835	Upward Expansion	-31	28
2026-01-30	458.50	457.78	7.45	164621	Upward Expansion	18	12
2026-01-23	495.00	455.42	17.61	413098	Upward Expansion	51	27
2026-01-16	475.00	450.38	12.71	188582	Upward Expansion	49	31
2026-01-09	492.50	445.02	18.86	296890	Upward Expansion	53	48
2026-01-02	502.00	438.93	23.99	192264	Upward Expansion	56	44
2025-12-26	508.00	432.07	27.47	35333	Upward Expansion	59	35
2025-12-19	509.00	424.77	28.36	326394	Upward Expansion	58	29
2025-12-12	460.00	416.97	19.94	168337	Upward Expansion	35	19
2025-12-05	472.50	410.30	23.84	551136	Upward Expansion	40	24
2025-11-28	482.50	402.55	26.77	183863	Upward Expansion	51	30
2025-11-21	485.00	394.63	30.92	316413	Upward Expansion	54	35
2025-11-14	476.50	387.57	27.75	133477	Upward Expansion	45	32
2025-11-07	482.50	380.10	30.62	271247	Upward Expansion	56	36
2025-10-31	503.00	372.43	36.77	432654	Upward Expansion	64	43
2025-10-24	462.50	364.08	27.90	329667	Upward Expansion	58	44
2025-10-17	453.50	357.60	30.08	1772810	Upward Expansion	60	48
2025-10-10	503.00	351.45	44.21	470568	Upward Expansion	69	70
2025-10-03	520.00	344.02	49.66	579695	Upward Expansion	79	80
2025-09-26	432.00	336.05	28.61	828203	Upward Expansion	62	60
2025-09-19	526.00	331.28	59.41	347691	Upward Expansion	88	79
2025-09-05	459.00	323.48	41.44	591478	Deceleration	80	54
2025-08-29	403.00	317.82	25.96	245545	Deceleration	49	35
2025-08-22	375.00	314.42	16.38	154784	Upward Expansion	46	37
2025-08-15	390.00	310.62	24.11	91588	Upward Expansion	49	43
2025-08-08	380.00	306.32	22.36	126979	Upward Expansion	63	57
2025-08-01	407.50	302.93	32.44	440763	Upward Expansion	68	66
2025-07-25	385.00	299.33	25.30	416927	Upward Expansion	68	82
2025-07-18	434.00	295.92	44.07	375780	Upward Expansion	88	95
2025-07-11	420.00	290.95	41.51	431296	Upward Expansion	91	96
2025-06-27	381.00	286.37	31.45	167816	Upward Expansion	85	94
2025-06-20	387.50	282.72	34.86	438121	Upward Expansion	95	96
2025-06-13	344.00	278.75	19.53	578234	Upward Expansion	88	87
2025-06-06	314.00	276.42	9.75	307739	Rotation Up	76	77
2025-05-30	310.00	274.62	9.37	253934	Rotation Up	39	49
2025-05-16	296.00	273.42	5.55	242331	Downward Expansion	30	32
2025-05-09	289.00	272.97	4.57	280826	Downward Expansion	-7	10
2025-05-02	275.00	272.52	-0.89	229611	Downward Expansion	-33	24
2025-04-25	260.00	273.27	-4.31	150010	Downward Expansion	-56	36
2025-04-11	240.00	274.13	-6.79	249482	Downward Expansion	-72	54
2025-04-04	245.00	275.15	-6.07	199116	Downward Expansion	-69	51
2025-03-28	273.00	275.82	-2.78	391397	Rotation Down	-58	56
2025-03-21	252.50	274.15	-10.28	288322	Rotation Down	-39	59
2025-03-14	252.50	273.35	-10.60	79397	Rotation Down	-40	54
2025-03-07	252.50	272.67	-11.52	195862	Balance	-31	36
2025-02-28	268.00	272.62	-7.84	203261	Balance	3	12
2025-02-21	269.00	272.02	-6.15	253377	Balance	16	10
2025-02-14	280.00	271.32	-3.32	222611	Upward Expansion	45	22
2025-02-07	281.00	270.30	-2.78	167378	Upward Expansion	47	33
2025-01-31	289.00	269.92	0.15	198071	Upward Expansion	50	48
2025-01-24	292.00	269.27	3.20	555221	Upward Expansion	52	38
2025-01-17	289.00	268.62	2.54	384268	Upward Expansion	49	21
2025-01-03	301.00	268.45	10.89	417630	Upward Expansion	51	23
2024-12-27	261.00	267.50	-2.54	58754	Upward Expansion	16	10
2024-12-20	261.00	267.57	-1.60	157283	Upward Expansion	25	15
2024-12-13	278.50	267.12	2.50	136348	Upward Expansion	53	46
2024-11-29	299.50	266.35	10.72	283690	Upward Expansion	67	58
2024-11-22	282.50	265.47	5.27	217559	Balance	51	36
2024-11-15	285.00	265.25	9.28	175492	Balance	51	27
2024-11-08	282.50	264.08	8.91	112590	Balance	40	20
2024-11-01	271.50	262.97	3.94	472422	Balance	28	15
2024-10-25	268.50	262.38	2.42	134483	Balance	29	15
2024-10-18	274.00	261.90	3.59	241566	Balance	33	16
2024-10-11	260.00	261.07	-0.04	207499	Upward Expansion	33	18
2024-10-04	274.00	261.93	5.38	121846	Upward Expansion	55	47
2024-09-27	282.50	262.50	8.66	139655	Rotation Up	59	60
2024-09-13	275.50	262.45	7.28	446375	Rotation Up	31	45
2024-09-06	297.50	262.37	17.83	261434	Rotation Up	38	41
2024-08-16	286.00	261.48	12.33	256829	Downward Expansion	19	23
2024-08-09	270.50	260.82	8.75	302580	Downward Expansion	-20	13
2024-08-02	265.00	260.77	7.02	1691288	Downward Expansion	-46	42
2024-07-26	223.00	260.70	-10.61	215086	Downward Expansion	-77	78
2024-07-19	228.50	261.77	-6.69	1134993	Downward Expansion	-76	73
2024-07-12	232.00	260.88	-5.98	515440	Balance	-74	69
2024-07-05	251.00	259.82	2.76	318635	Balance	-28	38
2024-06-28	250.00	258.62	3.43	327678	Balance	-27	26
2024-06-21	248.00	257.42	2.25	298866	Deceleration	-18	16
2024-06-14	249.50	256.18	4.53	333002	Deceleration	14	7
2024-05-31	269.50	255.13	11.83	699399	Deceleration	49	36
2024-05-24	269.50	253.08	12.00	872702	Deceleration	49	39
2024-05-17	272.50	251.00	12.61	230834	Deceleration	48	35
2024-05-10	284.00	248.20	17.95	218920	Deceleration	59	30
2024-05-03	272.50	245.03	17.17	152916	Deceleration	41	17
2024-04-26	263.00	242.10	15.07	198568	Deceleration	31	15
2024-04-19	247.50	239.58	12.67	192254	Deceleration	25	17
2024-04-05	255.50	237.58	17.16	619938	Deceleration	36	22
2024-03-29	273.00	235.48	25.84	555512	Deceleration	55	29
2024-03-22	276.00	232.70	29.20	303394	Deceleration	48	23
2024-03-15	250.00	229.50	21.60	243056	Deceleration	27	24
2024-03-08	249.00	227.27	23.62	322399	Deceleration	30	27
2024-03-01	254.00	225.05	27.23	343574	Deceleration	39	24
2024-02-23	254.00	222.62	28.28	276712	Upward Expansion	48	37
2024-02-09	249.00	220.32	29.43	319011	Upward Expansion	64	54
2024-02-02	286.00	217.87	49.89	226340	Upward Expansion	72	76
2024-01-26	291.00	214.02	54.87	252675	Upward Expansion	83	86
2024-01-19	281.00	209.75	55.83	230736	Upward Expansion	78	86
2024-01-12	273.00	205.88	50.82	161578	Upward Expansion	73	88
2024-01-05	271.00	202.43	50.91	192962	Upward Expansion	72	89
2023-12-29	266.00	199.12	49.86	74330	Upward Expansion	73	90
2023-12-22	269.00	196.12	54.67	131149	Upward Expansion	85	91
2023-12-08	263.00	192.77	56.43	507838	Upward Expansion	87	72
2023-12-01	255.00	189.97	54.58	595777	Upward Expansion	87	56
2023-11-17	202.00	187.37	24.74	190244	Upward Expansion	45	31
2023-11-10	200.00	186.43	26.94	210164	Upward Expansion	60	44
2023-11-03	215.00	185.25	36.77	92903	Upward Expansion	68	65
2023-10-27	214.00	183.22	40.17	129349	Upward Expansion	69	75
2023-10-20	211.00	180.72	37.81	174931	Upward Expansion	68	78
2023-10-13	218.00	178.35	40.23	372045	Upward Expansion	82	81
2023-10-06	208.00	175.70	37.21	316050	Upward Expansion	77	67
2023-09-22	207.00	173.15	34.54	263462	Upward Expansion	79	50
2023-09-15	188.50	170.90	23.26	58898	Upward Expansion	55	35
2023-09-08	189.00	168.90	28.56	79752	Upward Expansion	57	37
2023-09-01	184.50	166.87	26.90	61828	Upward Expansion	56	42
2023-08-25	187.50	165.30	32.43	85168	Upward Expansion	60	52
2023-08-18	187.50	163.53	35.14	187767	Upward Expansion	61	50
2023-08-11	192.50	160.87	35.21	175781	Upward Expansion	75	60
2023-08-04	189.50	158.03	33.68	614041	Upward Expansion	73	54
2023-07-28	180.00	155.48	26.22	74367	Upward Expansion	61	53
2023-07-21	183.00	153.28	30.00	89450	Upward Expansion	66	71
2023-07-14	182.50	151.02	34.90	93046	Upward Expansion	67	68
2023-07-07	181.00	148.47	38.33	25689	Upward Expansion	66	54
2023-06-23	185.00	146.13	38.70	188813	Deceleration	72	48

Price vs TrendAbove+16.9%

Trend directionRising+4.5%

Price vs current Fair ValuePremium+59.3%

Fair Value directionClosing upward+5.3%

Relative Strength vs benchmarkLeading+12.7%

Relative strength directionImproving+11.5%

Price momentumPositive+30.6%

Volume balanceDemand-led2.59×

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

71 / ±100

-13.7 points since 2026-09-11

Energy

71 /100

-17.0 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.

JNEO Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance1

Rotation Up69

Upward Expansion92

Deceleration48

Rotation Down22

Downward Expansion14

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

2023-06-23 to 2026-10-09 · 156 classified observations out of 156 shown.

Balance 10%Rotation Up 6%Upward Expansion 53%Deceleration 12%Rotation Down 5%Downward Expansion 14%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Upward Expansion	2026-08-14	2026-10-09	Developing	+7.3%
Rotation Up	2026-07-10	2026-08-07	Developing	+3.1%
Balance	2026-06-19	2026-07-03	New	+5.7%
Downward Expansion	2026-04-03	2026-06-12	Developing	+8.0%
Rotation Down	2026-02-20	2026-03-27	Developing	-16.8%
Upward Expansion	2025-09-19	2026-02-13	Established	-20.5%
Deceleration	2025-08-29	2025-09-05	New	+13.9%
Upward Expansion	2025-06-13	2025-08-22	Developing	+9.0%
Rotation Up	2025-05-30	2025-06-06	New	+1.3%
Downward Expansion	2025-04-04	2025-05-16	Developing	+20.8%
Rotation Down	2025-03-14	2025-03-28	New	+8.1%
Balance	2025-02-21	2025-03-07	New	-6.1%
Upward Expansion	2024-11-29	2025-02-14	Developing	-6.5%
Balance	2024-10-18	2024-11-22	Developing	+3.1%

Classic Stage Analysis comparison

Stage 1 · Basing18

Stage 2 · Advancing100

Stage 3 · Distribution58

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 ^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: 95/100
Current Relative Strength: 12.74
Relative Strength direction: Improving
Price momentum: +30.6%
Excess performance vs benchmark: +31.1%
Industrials regime cohort: 82th percentile51 in cohort

Test JNEO trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.21×

Latest completed volume relative to typical participation.

Up/down volume2.59×

Participation balance between advancing and declining observations.

Accumulation / distribution4 / 1

Recent participation evidence classified by demand and supply.

Activity alignment+100.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

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 JNEO Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity GBP 540.47rising

Slow Activity GBP 490.40rising

Trend Reference GBP 463.70+16.9% close margin

Current Fair Value GBP 340.22+59.3% close margin

Structural low GBP 387.18shock / 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 +3.5%

Annualized volatility +13.2%

From structural high -3.2%

From structural low +50.6%

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	31	+1.1%-13.8% to +34.9%	+58.1%	+58.1%	+1.0%	+80.6%	Usable descriptive sample
Intermediate	10	+7.4%-19.8% to +37.5%	+70.0%	+70.0%	+8.2%	+60.0%	Usable descriptive sample
Extended	6	+30.2%-8.5% to +47.7%	+66.7%	+66.7%	+24.1%	+50.0%	Usable descriptive sample
Full cycle	3	+70.6%+27.8% to +72.3%	+100.0%	+100.0%	+47.2%	+100.0%	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.

JNEO 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 ↗

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

RMI Reversal Map