TMDX

TransMedics Group, Inc.

NASDAQ · Common stock

70.78

−5.74 (−7.50%)

Close, Oct 16, 2026

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Structural summary

What is the structure, what changed, and what would invalidate it

Viridia Intelligence

Context across dimensions, not a rating

StructureHigher highs, higher lowsIntermediate-degree swings on the daily chart.

WaveDefensiveImpulse, wave 5 down (Pattern Confidence 67); the weekly count points the other way.

FibonacciZone belowNearest confluence 67.33–69.25 (3 relationships), −3.5% from the close.

MomentumWeak3 months −3.7% (behind SPY by 6.5 points); 6 months −38.9%.

RegimeDowntrend−17.1% vs the 50-day average, −27.5% vs the 200-day.

RiskNormal20-day volatility 47% vs 57% over the year; 1-year drawdown −58.8%; beta 1.12.

TMDX setup history8 resolved: 2 reached target first

Current structure

Price, swings and the preferred count on the chart

TMDX · 1DLoading bars…

SourceMassive, end of dayUpdated—MethodDaily bars, split-adjusted

Candidate interpretations

Every count shown passes every hard rule

Candidate interpretations

Ranked by Pattern Confidence

Counts ending at the latest intermediate swing high, 95.18 on Aug 21, 2026. 158 labelings tested, 112 broke a hard rule, 12+ remain.

Hard-rule evidence: why 112 labelings were eliminated

48Wave 2 always retraces less than 100% of wave 1
23Contracting triangle: C ends short of A's end, D short of B's end, and E short of C's end
21Wave 3 always travels beyond the end of wave 1
6Wave B ends short of the start of wave A (a zigzag is a sharp correction)
5Wave B retraces at least 90% of wave A
3Wave 4 does not enter the price territory of wave 1

Method Every chain of 3–6 alternating pivots ending at the latest confirmed pivot is tested as each pattern; only counts with zero hard-rule failures are kept, then ranked by Pattern Confidence. Rules: rulebook.Engine pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1, bars to Oct 16, 2026

Fibonacci map

Confluence zones above and below the closeClose 70.78

70.78close

Bar length is the zone's strength (a weighted count of relationships, not a probability). Select a zone to see what forms it.

67.33 – 69.25−3.5% from the close

3 relationships · strength 2.2 · Minor degree

69.25RetracementMove after the correction retraces 61.8% of A–C · Minor · Viridia
68.00RetracementMove after the correction retraces 100% of A–C · Minor · Viridia · secondary ratio
67.33ProjectionWave C = 123.6% of wave A · Minor · EWF · secondary ratio

Method Targets come from the Fibonacci relationships the sources describe for the wave in progress, Elliott trend channels, the prior fourth wave of lesser degree, and 38.2–78.6% retracements of the latest swing. A zone is where two or more independent relationships fall within max(¼ ATR, 0.4%) of each other; strength counts them, weighting primary ratios and higher degrees. It is not a probability.

Evidence

The setup the preferred count implies, and how that kind of setup has done

Setup

Intermediate degree · from the preferred count

No scenario at intermediate degree right now

The target is closer than the stop (reward:risk 0.25 : 1): most of the count's expected move has already happened, so it isn't a setup. Viridia shows nothing rather than a guess.

Setups at other degrees:

NoteResearch scenario generated from Viridia's structural model. Not a recommendation.MethodA setup restates the preferred count as a trade: the entry (the close, or the level where the correction in progress most often ends), the stop where the count is wrong (a rule level, or the end of a finished pattern), and the count's own Fibonacci target. Reward:risk is measured from the middle of the entry range. A setup needs reward:risk of at least 1 : 1. It is research output from the wave count, not a recommendation or a forecast.

Engine details

Analysis engine: pivots-1.0.0+rules-1.0.0+candidates-1.0.0+fib-1.0.1+rank-1.1.0+setup-1.0.1
Bars analysed to: Oct 16, 2026
Price history: Automatic, updated nightly
Daily bars: 514 since Sep 30, 2024
Avg volume, 50 days: 757.2K
Dollar volume, 20 days: $63.4M
SEC CIK: 0001756262
Provider symbols: nasdaqtrader: TMDX · massive: TMDX
Listing changes: None since Sep 24, 2026

SourcePrices: Massive (end of day, split-adjusted). Listings: Nasdaq Trader, SECUpdatedOct 20, 2026, 8:00 AM EDTMethodSecurity master, daily snapshot diff

Structure at a glance

Daily chart, as of Oct 16, 2026

Since the count's last pivot (95.18, Aug 21, 2026) price has moved −25.6%, the way the count expects.12 of 12 rule-valid counts expect the current move to be down.Weekly count: ending diagonal wave 3 ↑, opposite direction

Preferred count

Impulse down · wave 5 ↓

Price is in wave 5 of a five-wave decline (impulse).

1-2-3-4 from 156.00, Dec 2, 2025

Pattern Confidence67Medium

6 of 8 checks met

Key levels, preferred count

Invalidation+68.5% from close

119.29

Price above this level breaks the count.

Target, wave 5−17.4% from close

58.47

Wave 5 = 100% of wave 1

Nearest confluence zone−3.5% from close

67.33–69.25

3 Fibonacci relationships meet here.

Alternate count

Zigzag up · complete, next move down ↓

A three-wave zigzag correction up looks complete, so the larger trend would normally resume down.

A-B-C from 60.11, May 13, 2026

Pattern Confidence60Medium

4 of 6 checks met

Why this count is preferred · 6 met, 2 not met

Met

Wave 3 measures 161.8% or more of wave 1
Wave 4 retraces 14.6% to 38.2% of wave 3, and no more than 50%
Waves 2 and 4 alternate: one sharp and deep, the other shallow or sideways
The count starts at the price extreme of the prior swing (a new trend begins where the old one ended)
Wave 3 has the heaviest average volume of the actionary waves
Waves 2 and 4 alternate in time too: the shallower correction takes at least as long

Not met

Wave 2 retraces 50% to 85.4% of wave 1
Wave 3 moves faster (price per bar) than waves 1 and 5

MethodPattern Confidence = (guidelines met + 2) ÷ (guidelines measured + 4), from the rulebook's guidelines, Fibonacci tendencies and wave-personality checks (wave 3 speed and volume, wave 5 volume, alternation in time, a start at the prior extreme), alternate waves in Fibonacci ratio, and the rarity of running flats. The alternate is the best-ranked count that tells a different story. It ranks the rule-valid counts against each other; it is not a probability of any outcome.

Structural summary

Viridia Intelligence

Current structure

Candidate interpretations

Candidate interpretations

Fibonacci map

Fibonacci map

Evidence

Setup

Engine details

Structure at a glance

What changed