Week Ending: 28 August 2026

Portugal PT Sector

Basic Materials

For the week ending 28 August 2026, Basic Materials declined 0.08% with 1 advancing, 3 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.

41 technical evidence
Index1768.02 1 week-0.08% Breadth20% Members5
Country 🇵🇹 Portugal · PT
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 2 completed weeks in this state
Trend acceptance 0.5% Index versus Trend Line
Persistence 50% Positive regime, shorter trend weakening
Participation 20% 1 advancing, 3 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 Reduce exposure into strength

Counter-trend rallies may occur, but primary structure and persistence do not yet support adding risk.

41 technical evidence
out of 100
Evidence balance

Five-pillar map

Reduce
Trend
49
Breadth
21
Persistence
37
Relative
26
Risk quality
97
What supports the view
  • No major confirming factor has secured control.
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 group is not yet delivering dependable relative outperformance.
  • 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 1,758.82, 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 Unresolved

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

State age2 weeks
Trend gateDown
Fan width0.79%
Fast versus slow change1.36 pts
Above 33% Below 17%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Positive regime, shorter trend weakening

50% agreement

The long trend remains positive, but the 13-week horizon has turned against it.

13-week
-1.8%
26-week
-2.1%
39-week
9.2%
52-week
3.2%
Regime age15 weeks 52-week flips2 52-week boundary1712.47
Constituent trend persistence

Is the index move broadly durable?

100% coverage
Coherent positive0%
Coherent negative0%
Average horizon agreement60%
Positive horizon share40%
Weakening positives1
Repairing negatives1

5 constituents measured as of 28 Aug 2026. Median trend age is 4 weeks.

Custom stage map

Where constituents sit in the cycle

100% coverage
Stage 1 · Basing0%0 securities
Stage 2 · Advancing40%2 securities
Stage 3 · Distribution40%2 securities
Stage 4 · Declining20%1 securities
Re-acceleration watch0 Transition watch1 Relative strength leaders20% Fair Value repairs0

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

67/100 mean confidence
Upward expansion
20% 1
Rotation up
0% 0
Deceleration
20% 1
Balance
40% 2
Rotation down
0% 0
Downward expansion
20% 1
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 PT 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 PT Market Structure. A falling line means capital has done better in the parent benchmark.

Relative index67.8
13-week trend68.3
4-week trend change-1.18%
Weekly peer rank4 of 6
1 week
-0.2 pts relative
4 weeks
1.0 pts relative
13 weeks
-5.2 pts relative
26 weeks
-5.7 pts relative
52 weeks
-18.3 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Narrow
Advancing
1
Declining
3
Unchanged
1
4-week average 55%
13-week average 42%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility12.6%
Drawdown from 52-week high-2.9%
Positive weeks, last 1338%
Current directional run1 week
Turnover versus 13-week norm175%
Breadth impulse-23.3 pts
Cross-section

Return distribution

5 measured
Q1 -0.6% Median -0.1% Q3 0.0%
Average winner1.1%
Average loser-0.5%
Dispersion0.7 pts
Top-five upside share100%
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.

0/1 positive
Above Trend Line0/10% of industries
Constructive breadth0/1At least half advancing
Median industry-0.32%0.00 pts dispersion
#1 Weakening

Paper & Paper Products

-0.32%
Participation0% vs Trend-1.7% vs Fair Value10.4% 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 5 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 CORCorticeira Amorim, S.G.P.S., S.A.
1.14% 2 SEMSemapa - Sociedade de Investimento e Gestão, SGPS, S.A.
0.00% 3 NVGThe Navigator Company, S.A.
-0.12% 4 RAMRamada Investimentos e Industria, S.A.
-0.58% 5 ALTRAltri, SGPS, S.A.
-0.84%

Weakest edge

5 ALTRAltri, SGPS, S.A.
-0.84% 4 RAMRamada Investimentos e Industria, S.A.
-0.58% 3 NVGThe Navigator Company, S.A.
-0.12% 2 SEMSemapa - Sociedade de Investimento e Gestão, SGPS, S.A.
0.00% 1 CORCorticeira Amorim, S.G.P.S., S.A.
1.14%

Constituent ledger

Sector constituents

All 5 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 COR Corticeira Amorim, S.G.P.S., S.A. LIS 929.20M 7.07 0.23 pts
1.14%
2 SEM Semapa - Sociedade de Investimento e Gestão, SGPS, S.A. LIS 1.66B 20.70 0.00 pts
0.00%
3 NVG The Navigator Company, S.A. LIS 2.32B 3.27 -0.02 pts
-0.12%
4 RAM Ramada Investimentos e Industria, S.A. LIS 173.85M 6.84 -0.12 pts
-0.58%
5 ALTR Altri, SGPS, S.A. LIS 971.30M 4.70 -0.17 pts
-0.84%

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

Evidence context