Week Ending: 28 August 2026

France FR Sector

Utilities

For the week ending 28 August 2026, Utilities declined 0.99% with 7 advancing, 9 declining, and 1 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

52 technical evidence

Index519.06 1 week-0.99% Breadth41% Members17

Country 🇫🇷 France · FR

Universe country-listed

Price basis Adjusted weekly close

Trend architecture

Index, activity fan and structural anchors

Rolling 156-week evidence. Trend Signal points mark weeks when price, trend and the activity fan confirmed together.

Index Value Trend Line Fair Value Activity Lines Constructive architecture Transitional architecture Defensive architecture

Current architecture Unresolved 8 completed weeks in this state

Trend acceptance -2.5% Index versus Trend Line

Persistence 50% Negative regime, horizons divided

Participation 41% 7 advancing, 9 declining

Investor positioning lens

Is the evidence ready for capital?

A rules-based technical classification using trend, breadth, persistence, relative strength and path quality.

Current posture Hold and wait for confirmation

The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.

52 technical evidence
out of 100

Evidence balance

Five-pillar map

Wait

Trend

Breadth

Persistence

Relative

Risk quality

What supports the view

Medium-term relative returns and peer standing remain constructive.

What restrains conviction

Index trend architecture has not delivered a durable upward expansion.
Breadth remains too narrow or inconsistent for a high-conviction position.
Constituent persistence remains divided or predominantly negative.
The current 13-week parent-relative trend is weakening.
Stage 4 declining constituents exceed Stage 2 advancing constituents by 31 percentage points.
Positive contribution is concentrated in a small leadership cohort.

Independent sentiment overlay Sentiment held separate

Qualified news coverage is too thin to alter the technical positioning view.

Evidence that would change the view

A completed weekly reclaim of 581.06, the higher of Trend Line and Fair Value, would improve the structural case.
Breadth holding above 55% for several completed weeks would show that repair is spreading.
Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

This is a weekly research classification, not personal investment advice. Sentiment is reported as an independent confirmation layer and does not alter the technical score.

Trend state and durability

Architecture, persistence and constituent regimes

The index path is tested against the underlying security-level trend evidence.

Index architecture Unresolved

The Activity Lines, Trend Line and price acceptance remain genuinely mixed.

State age8 weeks

Trend gateDown

Fan width3.34%

Fast versus slow change2.86 pts

Above 0% Below 33%

Six completed weeks of price acceptance relative to the full Activity Line fan.

Index persistence

Negative regime, horizons divided

50% agreement

The 52-week trend is negative, while shorter horizons remain mixed.

13-week

-11.6%

26-week

3.7%

39-week

3.4%

52-week

-2.1%

Regime age11 weeks 52-week flips6 52-week boundary530.38

Constituent trend persistence

Is the index move broadly durable?

94% coverage

62%positive

Coherent positive19%

Coherent negative25%

Average horizon agreement75%

Positive horizon share47%

Weakening positives6

Repairing negatives1

16 constituents measured as of 28 Aug 2026. Median trend age is 28 weeks.

Custom stage map

Where constituents sit in the cycle

94% coverage

56%Stage 4

Stage 1 · Basing13%2 securities

Stage 2 · Advancing25%4 securities

Stage 3 · Distribution6%1 securities

Stage 4 · Declining56%9 securities

Re-acceleration watch0 Transition watch3 Relative strength leaders19% Fair Value repairs2

Measured as of 28 Aug 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

73/100 mean confidence

Upward expansion

12% 2

Rotation up

6% 1

Deceleration

12% 2

Balance

19% 3

Rotation down

19% 3

Downward expansion

31% 5

Unresolved

0% 0

Architecture breadth shows the distribution of expanding, rotating, balancing and contracting securities. It is diagnostic context and is not added as a second vote in the positioning score.

Capital rotation

Performance relative to FR Market Structure

Weakening

Relative index 13-week relative trend Starting level

Rotation dashboard Weakening

A rising relative line means this group is compounding faster than FR Market Structure. A falling line means capital has done better in the parent benchmark.

Relative index83.2

13-week trend83.9

4-week trend change-1.71%

Weekly peer rank4 of 11

1 week

-0.1 pts relative

4 weeks

3.5 pts relative

13 weeks

-7.5 pts relative

26 weeks

7.0 pts relative

52 weeks

4.1 pts relative

Market internals

Participation, dispersion and path risk

Equal-weight index evidence with constituent-level breadth and dispersion.

Breadth

Participation quality

Narrow

41% advanced

Advancing: 7
Declining: 9
Unchanged: 1

4-week average 46%

13-week average 39%

Risk and persistence

Path quality

52-week lens

Annualised weekly volatility15.7%

Drawdown from 52-week high-11.6%

Positive weeks, last 1331%

Current directional run1 week

Turnover versus 13-week norm147%

Breadth impulse2.5 pts

Cross-section

Return distribution

17 measured

Q1 -2.9% Median -0.5% Q3 2.2%

Average winner2.6%

Average loser-3.9%

Dispersion4.3 pts

Top-five upside share93%

Top-five capital share100%

Capital data coverage100%

Dispersion describes how far constituent outcomes are spreading apart. Capital concentration is contextual only; the index itself is equal weighted.

Momentum cycle

30-week persistence

Positive readings show expansion. Negative readings show contraction.

Breadth cycle

Net participation

Advancers less decliners as a percentage of measured constituents.

Industry map

Where sector leadership is forming

Performance, breadth and trend acceptance across every qualified industry.

1/2 positive

Above Trend Line0/20% of industries

Constructive breadth1/2At least half advancing

Median industry-0.60%0.66 pts dispersion

#1 Repairing

Utilities - Diversified

0.05%

Participation67% vs Trend-11.7% vs Fair Value-0.6% Members3

#2 Contracting

Utilities - Renewable

-1.26%

Participation38% vs Trend-1.1% vs Fair Value-15.2% Members13

News and narrative

Does company news confirm the market tape?

Open Sentiment Intelligence

Sentiment evidence is still developing

Qualified company-level news coverage is not yet broad enough to influence the group view.

0 qualified records across 17 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 VLTSAVoltalia SA

5.29% 2 ALOKWGroupe OKwind Société anonyme

4.45% 3 ELECÉlectricite de Strasbourg Société Anonyme

2.79% 4 ARVENArverne Group S.A.

2.31% 5 MLWEYWeya SA

2.22%

Weakest edge

17 ALHAFHaffner Energy S.A.

-13.69% 16 ALAGPAgripower France Société Anonyme

-4.70% 15 HDFHydrogène de France Société anonyme

-4.50% 14 ALMINMINT Société anonyme

-3.11% 13 ENGIEngie SA

-2.89%

Constituent ledger

Sector constituents

All 17 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return

1 VLTSA Voltalia SA PAR 920.72M 6.97 0.31 pts

5.29%

2 ALOKW Groupe OKwind Société anonyme PAR 7.10M 0.258 0.26 pts

4.45%

3 ELEC Électricite de Strasbourg Société Anonyme PAR 1.21B 169.20 0.16 pts

2.79%

4 ARVEN Arverne Group S.A. PAR 340.21M 7.98 0.14 pts

2.31%

5 MLWEY Weya SA PAR 888,289 0.023 0.13 pts

2.22%

6 ALMET Méthanor SCA PAR 5.93M 2.46 0.05 pts

0.82%

7 ALAGO E-Pango SA PAR 8.30M 0.1787 0.02 pts

0.39%

8 MLBSP Blue Shark Power System PAR 20.35M 3.70 0.00 pts

0.00%

9 MLEDR Compagnie des Eaux de Royan PAR 6.59M 36.80 -0.03 pts

-0.54%

10 ALCWE Charwood Energy SA PAR 18.22M 3.52 -0.07 pts

-1.12%

11 ALESE Entech SA PAR 148.34M 10.00 -0.13 pts

-2.15%

12 ALETC ENERGY SOLAR TECH PAR 33.56M 1.26 -0.14 pts

-2.33%

13 ENGI Engie SA PAR 62.25B 24.56 -0.17 pts

-2.89%

14 ALMIN MINT Société anonyme PAR 29.68M 4.98 -0.18 pts

-3.11%

15 HDF Hydrogène de France Société anonyme PAR 40.08M 2.76 -0.26 pts

-4.50%

16 ALAGP Agripower France Société Anonyme PAR 13.68M 0.932 -0.28 pts

-4.70%

17 ALHAF Haffner Energy S.A. PAR 96.77M 0.542 -0.81 pts

-13.69%

The index uses capped equal-weight weekly constituent returns. The ledger shows uncapped security returns so outliers remain visible for research.