Week Ending: 11 September 2026

Italy IT Sector

Healthcare

For the week ending 11 September 2026, Healthcare declined 0.07% with 5 advancing, 5 declining, and 1 unchanged constituents. The index is equal weighted and built from country-listed equities.

Current architecture Balance

Directional pressure is compressed and neither side has durable control.

50 technical evidence
Index705.90 1 week-0.07% Breadth45% Members11
Country 🇮🇹 Italy · IT
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 Balance 2 completed weeks in this state
Trend acceptance -0.9% Index versus Trend Line
Persistence 75% Negative regime, horizons divided
Participation 45% 5 advancing, 5 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.

50 technical evidence
out of 100
Evidence balance

Five-pillar map

Wait
Trend
39
Breadth
63
Persistence
37
Relative
42
Risk quality
86
What supports the view
  • Participation is broad enough to support the index move.
What restrains conviction
  • Index trend architecture has not delivered a durable upward expansion.
  • Constituent persistence remains divided or predominantly negative.
  • The group is not yet delivering dependable relative outperformance.
  • Stage 4 declining constituents exceed Stage 2 advancing constituents by 10 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
  1. A completed weekly reclaim of 758.59, the higher of Trend Line and Fair Value, would improve the structural case.
  2. Breadth holding above 55% for several completed weeks would show that repair is spreading.
  3. 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 Balance

Directional pressure is compressed and neither side has durable control.

State age2 weeks
Trend gateMixed
Fan width0.46%
Fast versus slow change-0.10 pts
Above 50% Below 33%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative regime, horizons divided

75% agreement

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

13-week
-1.3%
26-week
2.4%
39-week
-6.2%
52-week
-7.5%
Regime age21 weeks 52-week flips10 52-week boundary763.30
Constituent trend persistence

Is the index move broadly durable?

100% coverage
Coherent positive9%
Coherent negative18%
Average horizon agreement68%
Positive horizon share43%
Weakening positives2
Repairing negatives2

11 constituents measured as of 11 Sep 2026. Median trend age is 19 weeks.

Custom stage map

Where constituents sit in the cycle

91% coverage
Stage 1 · Basing40%4 securities
Stage 2 · Advancing20%2 securities
Stage 3 · Distribution10%1 securities
Stage 4 · Declining30%3 securities
Re-acceleration watch0 Transition watch2 Relative strength leaders0% Fair Value repairs4

Measured as of 11 Sep 2026. Stages summarize price, Activity Line architecture, Fair Value position and relative evidence.

Architecture breadth

How market energy is distributed

74/100 mean confidence
Upward expansion
30% 3
Rotation up
10% 1
Deceleration
20% 2
Balance
20% 2
Rotation down
0% 0
Downward expansion
20% 2
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 IT 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 IT Market Structure. A falling line means capital has done better in the parent benchmark.

Relative index86.7
13-week trend88.1
4-week trend change-0.99%
Weekly peer rank6 of 11
1 week
0.2 pts relative
4 weeks
-1.4 pts relative
13 weeks
-1.5 pts relative
26 weeks
-3.9 pts relative
52 weeks
-6.6 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Balanced
Advancing
5
Declining
5
Unchanged
1
4-week average 41%
13-week average 44%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility14.9%
Drawdown from 52-week high-12.8%
Positive weeks, last 1346%
Current directional run2 weeks
Turnover versus 13-week norm162%
Breadth impulse1.5 pts
Cross-section

Return distribution

11 measured
Q1 -2.6% Median 0.0% Q3 1.6%
Average winner2.9%
Average loser-3.0%
Dispersion3.3 pts
Top-five upside share100%
Top-five capital share99%
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.

1/1 positive
Above Trend Line0/10% of industries
Constructive breadth1/1At least half advancing
Median industry2.34%0.00 pts dispersion
#1 Repairing

Medical Devices

2.34%
Participation67% vs Trend-6.8% vs Fair Value-6.8% Members3

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 11 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 ELNEL.En. S.p.A.
6.26% 2 GPIGPI S.p.A.
4.55% 3 HLXHelyx Industries S.p.A.
2.47% 4 IMDI.M.D. International Medical Devices S.p.A.
0.76% 5 COSMOFarmacosmo S.p.A.
0.41%

Weakest edge

11 GHCGarofalo Health Care S.p.A.
-5.69% 10 AMPAmplifon S.p.A.
-2.66% 9 DIADiaSorin S.p.A.
-2.60% 8 EUKEuKedos S.p.A.
-2.57% 7 ARBSARTERRA BIOSCIENCE
-1.64%

Constituent ledger

Sector constituents

All 11 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 ELN EL.En. S.p.A. MIL 1.27B 16.12 0.57 pts
6.26%
2 GPI GPI S.p.A. MIL 407.91M 14.24 0.41 pts
4.55%
3 HLX Helyx Industries S.p.A. MIL 20.10M 0.748 0.22 pts
2.47%
4 IMD I.M.D. International Medical Devices S.p.A. MIL 23.56M 1.32 0.07 pts
0.76%
5 COSMO Farmacosmo S.p.A. MIL 18.24M 0.489 0.04 pts
0.41%
6 OTO Otofarma S.P.A. MIL 14.27M 2.38 0.00 pts
0.00%
7 ARBS ARTERRA BIOSCIENCE MIL 19.61M 3.00 -0.15 pts
-1.64%
8 EUK EuKedos S.p.A. MIL 11.14M 0.492 -0.23 pts
-2.57%
9 DIA DiaSorin S.p.A. MIL 3.67B 73.40 -0.24 pts
-2.60%
10 AMP Amplifon S.p.A. MIL 3.05B 11.52 -0.24 pts
-2.66%
11 GHC Garofalo Health Care S.p.A. MIL 465.12M 5.30 -0.52 pts
-5.69%

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

Evidence context