Week Ending: 11 September 2026

Sweden SE Basic Materials Industry

Specialty Chemicals

For the week ending 11 September 2026, Specialty Chemicals declined 5.83% with 2 advancing, 12 declining, and 0 unchanged constituents. The index is equal weighted and the constituent tape shows uncapped security returns.

Current architecture Unresolved

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

33 technical evidence
Index217.38 1 week-5.83% Breadth14% Members14
Country 🇸🇪 Sweden · SE
Sector Basic Materials
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 1 completed week in this state
Trend acceptance -6.8% Index versus Trend Line
Persistence 100% Negative across every horizon
Participation 14% 2 advancing, 12 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 Defensive posture

The weight of trend, participation and relative evidence favours capital protection over new exposure.

33 technical evidence
out of 100
Evidence balance

Five-pillar map

Defensive
Trend
36
Breadth
28
Persistence
33
Relative
11
Risk quality
72
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.
  • Stage 4 declining constituents exceed Stage 2 advancing constituents by 15 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 308.43, 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 age1 weeks
Trend gateMixed
Fan width2.21%
Fast versus slow change-2.88 pts
Above 33% Below 33%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence

Negative across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.

13-week
-3.3%
26-week
-4.8%
39-week
-19.0%
52-week
-24.9%
Regime age104 weeks 52-week flips0 52-week boundary289.62
Constituent trend persistence

Is the index move broadly durable?

100% coverage
Coherent positive14%
Coherent negative36%
Average horizon agreement77%
Positive horizon share41%
Weakening positives0
Repairing negatives3

14 constituents measured as of 11 Sep 2026. Median trend age is 22 weeks.

Custom stage map

Where constituents sit in the cycle

93% coverage
Stage 1 · Basing39%5 securities
Stage 2 · Advancing23%3 securities
Stage 3 · Distribution0%0 securities
Stage 4 · Declining39%5 securities
Re-acceleration watch0 Transition watch0 Relative strength leaders15% Fair Value repairs3

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

76/100 mean confidence
Upward expansion
38% 5
Rotation up
8% 1
Deceleration
8% 1
Balance
8% 1
Rotation down
0% 0
Downward expansion
38% 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 Basic Materials

Weakening
Relative index 13-week relative trend Starting level
Rotation dashboard Weakening

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

Relative index73.5
13-week trend78.6
4-week trend change-0.98%
Weekly peer rank6 of 7
1 week
-1.3 pts relative
4 weeks
-3.9 pts relative
13 weeks
-5.6 pts relative
26 weeks
-4.7 pts relative
52 weeks
-23.6 pts relative

Market internals

Participation, dispersion and path risk

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

Breadth

Participation quality

Narrow
Advancing
2
Declining
12
Unchanged
0
4-week average 38%
13-week average 42%
Risk and persistence

Path quality

52-week lens
Annualised weekly volatility18.8%
Drawdown from 52-week high-25.9%
Positive weeks, last 1354%
Current directional run3 weeks
Turnover versus 13-week norm166%
Breadth impulse-29.8 pts
Cross-section

Return distribution

14 measured
Q1 -11.4% Median -5.2% Q3 -0.8%
Average winner1.1%
Average loser-7.0%
Dispersion5.4 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.

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 14 measured constituents.

Leadership tape

Leaders, laggards and contribution shape

Latest completed week, ranked on uncapped constituent returns.

Leading edge

1 POLYGPolygiene Group AB
1.27% 2 PREBONPrebona AB (publ)
0.93% 3 ITECHI-Tech AB
-0.42% 4 RECY-BRecyctec Holding AB ser. B
-0.50% 5 ARPLArla Plast AB
-1.52%

Weakest edge

14 ORGCOrganoClick AB (publ)
-13.89% 13 AXIC-AaXichem AB
-13.10% 12 PCATPhotocat A/S
-13.04% 11 NATTANattaro Labs AB (publ)
-12.08% 10 TRIBO-BTribox Group AB (publ)
-9.20%

Constituent ledger

Industry constituents

All 14 measured constituents, ranked by latest weekly return.

Rank Ticker Company Exchange Market cap Close Index contribution Return
1 POLYG Polygiene Group AB STO 146.11M 4.00 0.09 pts
1.27%
2 PREBON Prebona AB (publ) STO 19.65M 0.54 0.07 pts
0.93%
3 ITECH I-Tech AB STO 860.24M 71.90 -0.03 pts
-0.42%
4 RECY-B Recyctec Holding AB ser. B STO 8.41M 0.04 -0.04 pts
-0.50%
5 ARPL Arla Plast AB STO 810.88M 38.80 -0.11 pts
-1.52%
6 HPOL-B HEXPOL AB (publ) STO 31.91B 94.05 -0.14 pts
-1.98%
7 KBC KB Components AB (publ) STO 2.29B 42.80 -0.36 pts
-5.10%
8 AERO Svenska Aerogel Holding AB (publ) STO 37.92M 0.762 -0.37 pts
-5.22%
9 NEXAM Nexam Chemical Holding AB (publ) STO 304.91M 2.95 -0.56 pts
-7.81%
10 TRIBO-B Tribox Group AB (publ) STO 69.21M 0.227 -0.66 pts
-9.20%
11 NATTA Nattaro Labs AB (publ) STO 28.72M 0.582 -0.86 pts
-12.08%
12 PCAT Photocat A/S STO 23.98M 4.00 -0.93 pts
-13.04%
13 AXIC-A aXichem AB STO 124.62M 1.82 -0.94 pts
-13.10%
14 ORGC OrganoClick AB (publ) STO 43.97M 0.31 -0.99 pts
-13.89%

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

Evidence context