Weekly structural research · SHH · Utilities

603706 Stage Analysis

Xinjiang East Universe Gas Co.Ltd.

Week ending 9 Oct 2026Close CNY 17.43Tenure EstablishedBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Downward Expansion · Established contraction

The weekly architecture is expanding downward.

Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation.

The Trend gate is down within the current regime.
Fast Activity versus Slow Activity: stable.
Activity structure: wide and expanding.

Direction -64−100 bearish to +100 bullish

Energy 78/100directional strength

Maturity 33/100lifecycle context

Confidence 91/100evidence agreement

Trend gate Downstructural direction

Activity structure Wideexpanding separation

Price acceptance -66.7%position within the Activity structure

Fair Value context -0.4%CNY 17.49 · weakening

Trend Architecture map · Historical context

Weekly close, Activity, Trend and Fair Value

Follow price and Trend first, then add Activity Lines to inspect the structure. Subtle bands show the regime recognized at each completed observation; the dashed line marks current Fair Value, not a historical forecast.

CloseTrendCurrent Fair Value

Background stage key

BalanceDirection is contained.
Rotation UpStructure is turning higher.
Upward ExpansionUptrend is established.
DecelerationUptrend is losing energy.
Rotation DownStructure is turning lower.
Downward ExpansionDowntrend is established.

View chart values · 156 observations

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-09	17.43	19.18	-8.19	3430900	Downward Expansion	-64	78
2026-10-02	17.19	19.28	-10.42	2311786	Downward Expansion	-67	85
2026-09-25	17.12	19.41	-12.17	3515086	Downward Expansion	-69	84
2026-09-18	17.00	19.55	-13.63	4147986	Downward Expansion	-74	80
2026-09-11	17.28	19.67	-12.02	6437168	Downward Expansion	-71	69
2026-09-04	17.37	19.80	-12.84	1451400	Downward Expansion	-72	54
2026-08-28	17.99	19.93	-10.59	2438087	Downward Expansion	-56	30
2026-08-21	19.50	20.02	-2.37	942300	Downward Expansion	-36	19
2026-08-14	18.98	20.04	-5.90	756800	Downward Expansion	-42	28
2026-08-07	19.15	20.07	-5.78	1107445	Downward Expansion	-52	33
2026-07-31	18.95	20.08	-4.52	1292501	Downward Expansion	-56	41
2026-07-24	18.16	20.10	-8.32	743700	Downward Expansion	-65	54
2026-07-17	19.04	20.15	-2.94	1679030	Downward Expansion	-59	63
2026-07-10	18.58	20.16	-11.01	858800	Rotation Down	-63	65
2026-07-03	19.25	20.21	-9.26	1885098	Rotation Down	-29	37
2026-06-26	17.35	20.24	-18.30	3797400	Upward Expansion	-41	38
2026-06-19	19.58	20.33	-9.89	6185540	Upward Expansion	11	13
2026-06-12	20.21	20.43	-6.01	1820300	Upward Expansion	44	30
2026-06-05	21.46	20.48	-0.22	2133500	Upward Expansion	60	66
2026-05-29	21.36	20.47	-1.75	10844836	Rotation Up	60	64
2026-05-22	22.66	20.48	3.06	14931860	Rotation Up	45	50
2026-05-15	22.43	20.46	1.47	9820924	Balance	44	37
2026-05-08	21.33	20.44	-4.57	5701492	Balance	-9	11
2026-05-01	20.73	20.43	-5.81	11151494	Downward Expansion	-39	25
2026-04-24	19.33	20.43	-11.57	7848632	Downward Expansion	-60	63
2026-04-17	18.80	20.47	-13.56	4232400	Downward Expansion	-66	69
2026-04-10	18.48	20.54	-13.76	4097100	Downward Expansion	-73	68
2026-04-03	18.92	20.61	-9.55	4839900	Balance	-68	48
2026-03-27	19.95	20.69	-5.56	7777100	Balance	-42	25
2026-03-20	19.97	20.76	-6.55	8922700	Balance	-37	16
2026-03-13	20.38	20.85	-7.90	14525372	Balance	-14	10
2026-03-06	21.01	20.90	-5.74	33647980	Balance	15	20
2026-02-27	21.36	20.90	-5.04	4269779	Balance	29	31
2026-02-13	20.57	20.87	-6.67	4240200	Balance	-5	19
2026-02-06	21.03	20.85	-4.23	7048927	Balance	6	20
2026-01-30	21.28	20.82	-4.37	12028767	Downward Expansion	-10	17
2026-01-23	20.80	20.78	-6.97	8653079	Downward Expansion	-33	18
2026-01-16	20.23	20.79	-8.82	7882121	Downward Expansion	-56	36
2026-01-09	19.81	20.83	-11.21	6639718	Downward Expansion	-60	53
2026-01-02	19.40	20.83	-9.84	3016600	Rotation Down	-65	67
2025-12-26	19.46	20.79	-9.72	4934471	Rotation Down	-40	59
2025-12-19	19.62	20.75	-7.36	4864500	Rotation Down	-35	56
2025-12-12	19.48	20.70	-8.07	4204395	Balance	-30	40
2025-12-05	19.95	20.67	-6.34	6098519	Balance	-22	22
2025-11-28	20.32	20.61	-4.43	5838698	Balance	4	8
2025-11-21	20.09	20.53	-4.43	13016900	Upward Expansion	17	9
2025-11-14	22.40	20.45	2.26	12033452	Upward Expansion	65	38
2025-11-07	21.74	20.26	-0.64	8670502	Upward Expansion	52	31
2025-10-31	21.21	20.09	-1.72	9935971	Upward Expansion	50	32
2025-10-24	21.71	19.99	0.98	20388207	Upward Expansion	52	35
2025-10-17	21.92	19.85	5.11	21198118	Deceleration	57	34
2025-10-10	21.84	19.70	3.52	7163400	Deceleration	57	29
2025-10-03	21.04	19.57	0.40	3726000	Deceleration	31	18
2025-09-26	20.76	19.43	0.77	8452680	Deceleration	31	20
2025-09-19	20.52	19.30	0.10	7235994	Deceleration	35	21
2025-09-12	20.87	19.17	0.66	6796300	Upward Expansion	41	26
2025-09-05	20.77	19.05	1.90	8825100	Upward Expansion	56	39
2025-08-29	21.10	18.94	2.58	17795924	Upward Expansion	62	49
2025-08-22	22.12	18.80	8.70	22217190	Upward Expansion	67	65
2025-08-15	22.60	18.63	15.35	59695848	Upward Expansion	77	62
2025-08-08	21.84	18.44	13.82	23641415	Upward Expansion	75	55
2025-08-01	21.07	18.26	12.54	23147072	Upward Expansion	69	49
2025-07-25	20.42	18.17	8.35	13246634	Upward Expansion	60	45
2025-07-18	20.18	18.08	9.02	12353820	Upward Expansion	60	57
2025-07-11	20.14	18.00	9.91	14832761	Upward Expansion	62	73
2025-07-04	20.13	17.95	11.38	30420494	Upward Expansion	62	74
2025-06-27	21.04	17.92	18.51	54368000	Upward Expansion	73	77
2025-06-20	21.26	17.88	22.68	48106930	Upward Expansion	82	75
2025-06-13	19.94	17.79	15.20	14883715	Upward Expansion	75	58
2025-06-06	18.09	17.65	4.68	4353800	Upward Expansion	24	32
2025-05-30	18.24	17.58	7.00	4460000	Upward Expansion	54	52
2025-05-23	18.14	17.47	6.54	5375224	Upward Expansion	53	52
2025-05-16	18.52	17.41	8.41	5888848	Balance	60	52
2025-05-09	18.36	17.31	8.64	5216800	Balance	49	35
2025-05-02	17.73	17.21	7.22	3999000	Balance	27	13
2025-04-25	17.69	17.13	6.69	5800940	Balance	28	11
2025-04-18	16.95	17.02	3.07	4686901	Balance	5	4
2025-04-11	16.48	16.89	1.86	8004881	Balance	17	11
2025-04-04	18.13	16.78	8.95	7100000	Deceleration	59	40
2025-03-28	17.50	16.61	5.40	6872950	Deceleration	35	23
2025-03-21	17.59	16.48	5.94	6909360	Deceleration	35	20
2025-03-14	17.83	16.35	6.13	9223250	Deceleration	36	15
2025-03-07	17.03	16.24	3.24	5824000	Deceleration	12	11
2025-02-28	16.67	16.15	3.08	4124554	Deceleration	9	8
2025-02-21	16.66	16.09	1.67	5258365	Deceleration	14	8
2025-02-14	17.17	16.05	6.17	4905740	Deceleration	21	10
2025-02-07	17.48	15.95	10.04	3677100	Deceleration	23	12
2025-01-31	17.15	15.86	10.23	1094000	Deceleration	28	19
2025-01-24	16.89	15.76	8.71	4900810	Deceleration	31	18
2025-01-17	17.02	15.66	10.06	7634700	Deceleration	34	19
2025-01-10	16.38	15.56	8.38	17603335	Upward Expansion	38	21
2025-01-03	18.44	15.50	20.35	15537695	Upward Expansion	58	37
2024-12-27	17.64	15.37	9.07	9328200	Upward Expansion	57	43
2024-12-20	17.78	15.30	11.04	15573800	Upward Expansion	62	62
2024-12-13	18.67	15.20	15.78	26779600	Upward Expansion	66	78
2024-12-06	19.21	15.06	18.86	38609701	Upward Expansion	75	80
2024-11-29	19.69	14.94	24.91	73267431	Upward Expansion	85	77
2024-11-22	18.50	14.77	19.72	68725920	Upward Expansion	84	55
2024-11-15	15.89	14.63	0.99	19066100	Upward Expansion	63	49
2024-11-08	15.82	14.51	-3.36	11446320	Upward Expansion	66	65
2024-11-01	15.12	14.41	-2.66	13664769	Upward Expansion	62	67
2024-10-25	16.18	14.34	3.22	13603314	Rotation Up	77	75
2024-10-18	15.63	14.22	1.05	11635300	Rotation Up	59	47
2024-10-11	15.26	14.11	0.11	17668331	Rotation Down	43	34
2024-10-04	15.45	14.03	-2.21	5008100	Rotation Down	24	16
2024-09-27	14.25	13.90	-2.45	10901578	Rotation Down	-22	31
2024-09-20	13.29	13.83	2.74	4641900	Rotation Down	-33	56
2024-09-13	13.13	13.79	2.89	4384100	Rotation Down	-31	53
2024-09-06	13.01	13.72	-0.12	8632800	Balance	-34	44
2024-08-30	13.68	13.67	2.19	12313415	Balance	1	15
2024-08-23	13.65	13.68	1.69	3989800	Upward Expansion	5	8
2024-08-16	14.41	13.68	6.71	3937200	Upward Expansion	50	35
2024-08-09	14.30	13.70	6.86	7500069	Upward Expansion	51	39
2024-08-02	14.95	13.73	10.41	9978800	Upward Expansion	57	50
2024-07-26	15.33	13.73	14.08	13106274	Balance	65	42
2024-07-19	14.44	13.72	4.62	8050705	Balance	35	16
2024-07-12	14.65	13.75	6.77	8470454	Balance	36	19
2024-07-05	14.06	13.77	3.47	5830800	Rotation Up	31	19
2024-06-28	14.06	13.83	3.19	6558295	Rotation Up	8	10
2024-06-21	13.97	13.91	1.83	6315660	Rotation Up	13	15
2024-06-14	14.55	13.99	5.09	5814900	Rotation Up	28	27
2024-06-07	14.56	14.07	4.84	12125581	Rotation Up	31	31
2024-05-31	15.35	14.10	9.52	14956281	Rotation Up	32	56
2024-05-24	15.00	14.06	7.41	20178795	Rotation Up	26	55
2024-05-17	14.54	14.01	2.34	28769400	Rotation Up	22	48
2024-05-10	15.35	13.98	8.34	26713597	Balance	35	42
2024-05-03	14.67	13.96	5.69	17200504	Balance	6	17
2024-04-26	14.44	13.93	5.07	35413180	Downward Expansion	-11	12
2024-04-19	12.29	13.90	-9.57	12424300	Downward Expansion	-40	22
2024-04-12	12.77	13.95	-4.47	18712648	Downward Expansion	-35	21
2024-04-05	12.91	13.99	-4.73	6818732	Downward Expansion	-37	23
2024-03-29	12.58	14.03	-6.16	7140149	Downward Expansion	-42	32
2024-03-22	12.54	14.07	-6.62	9552792	Downward Expansion	-46	38
2024-03-15	12.62	14.11	-6.16	18056020	Downward Expansion	-59	49
2024-03-08	11.79	14.14	-12.01	7443900	Downward Expansion	-64	80
2024-03-01	12.00	14.22	-9.91	12460500	Downward Expansion	-66	83
2024-02-23	12.07	14.28	-8.68	11153886	Rotation Down	-66	83
2024-02-09	11.00	14.35	-12.71	13575667	Rotation Down	-59	77
2024-02-02	11.48	14.45	-4.39	8084800	Deceleration	-48	61
2024-01-26	13.95	14.52	9.20	8781700	Deceleration	-21	22
2024-01-19	13.90	14.48	12.28	5689000	Deceleration	-3	12
2024-01-12	15.02	14.45	19.81	5458400	Deceleration	27	18
2024-01-05	15.06	14.39	18.87	6626600	Deceleration	29	18
2023-12-29	14.97	14.32	16.99	5760100	Deceleration	32	20
2023-12-22	14.91	14.27	19.55	8223600	Upward Expansion	37	19
2023-12-15	15.62	14.22	24.69	14148134	Upward Expansion	54	35
2023-12-08	15.25	14.13	21.23	12289100	Upward Expansion	60	46
2023-12-01	15.73	14.05	22.99	20230803	Upward Expansion	65	75
2023-11-24	16.51	13.95	29.37	31042026	Upward Expansion	69	80
2023-11-17	16.41	13.80	28.84	71197899	Upward Expansion	73	78
2023-11-10	16.98	13.67	34.82	45845547	Upward Expansion	85	76
2023-11-03	15.18	13.51	21.72	29211593	Upward Expansion	69	37
2023-10-27	14.30	13.41	15.54	13929107	Upward Expansion	54	28
2023-10-20	13.46	13.36	10.27	10662600	Upward Expansion	26	15
2023-10-13	13.82	13.34	9.42	10197201	Upward Expansion	48	27
2023-09-29	14.52	13.30	14.24	11891500	Upward Expansion	68	36

Price vs TrendBelow-9.1%

Trend directionFalling-4.5%

Price vs current Fair ValueBelow anchor-0.4%

Fair Value directionMoving away-8.8%

Relative Strength vs benchmarkLagging-8.2%

Relative strength directionImproving+2.8%

Price momentumNegative-5.7%

Volume balanceSupply-led0.89×

Beyond the current label

Is the structure strengthening or losing force?

Direction and energy measure different things

Direction shows the upward or downward lean. Energy shows the force behind the structural move: high energy can accompany a strong decline as well as an advance.

Direction

-64 / ±100

+6.9 points since 2026-09-11

Energy

78 /100

+9.5 points since 2026-09-11

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

603706 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance10

Rotation Up19

Upward Expansion19

Deceleration38

Rotation Down64

Downward Expansion93

The winning regime is the state most consistent with the complete SM evidence set. Direction, energy, maturity and confidence describe different aspects of the current structure, while contradictory evidence remains visible rather than being averaged into false certainty.

Time spent in each state

The context behind today’s regime

2023-09-29 to 2026-10-09 · 156 classified observations out of 156 shown.

Balance 17%Rotation Up 8%Upward Expansion 34%Deceleration 15%Rotation Down 8%Downward Expansion 19%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2026-07-17	2026-10-09	Established	-8.5%
Rotation Down	2026-07-03	2026-07-10	New	-3.5%
Upward Expansion	2026-06-05	2026-06-26	New	-19.2%
Rotation Up	2026-05-22	2026-05-29	New	-5.8%
Balance	2026-05-08	2026-05-15	New	+5.2%
Downward Expansion	2026-04-10	2026-05-01	New	+12.2%
Balance	2026-02-06	2026-04-03	Developing	-10.0%
Downward Expansion	2026-01-09	2026-01-30	New	+7.4%
Rotation Down	2025-12-19	2026-01-02	New	-1.1%
Balance	2025-11-28	2025-12-12	New	-4.1%
Upward Expansion	2025-10-24	2025-11-21	Developing	-7.5%
Deceleration	2025-09-19	2025-10-17	Developing	+6.8%
Upward Expansion	2025-05-23	2025-09-12	Established	+15.1%
Balance	2025-04-11	2025-05-16	Developing	+12.4%

Classic Stage Analysis comparison

Stage 1 · Basing48

Stage 2 · Advancing0

Stage 3 · Distribution30

Stage 4 · Declining100

Legacy result: Stage 4 · Stage 4B · Declining. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus 000001.SS

Is relative performance confirming the geometry?

Confirmation, not classification

Relative Strength

The security is compared with its market benchmark on the SM scale. Above zero indicates relative leadership; direction shows whether that leadership is improving or weakening.

Confirmation evidence

Lagging benchmark

Architecture confirmation: 79/100
Current Relative Strength: -8.19
Relative Strength direction: Improving
Price momentum: -5.7%
Excess performance vs benchmark: -1.4%
Utilities regime cohort: 95th percentile43 in cohort

Test 603706 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.19×

Latest completed volume relative to typical participation.

Up/down volume0.89×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationStable

Current relationship between Fast Activity and Slow Activity.

Structure stability+12.5%

Whether recent Activity evidence is stable or remains in balance.

Weekly volume with architecture context

Bars show completed weekly volume; the dashed line provides typical-volume context. Both measures use the same scale.

Explore 603706 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 17.24falling

Slow Activity CNY 18.64falling

Trend Reference CNY 19.18-9.1% close margin

Current Fair Value CNY 17.49-0.4% close margin

Structural low CNY 16.75shock / repair context

What changes the read?

Fan contraction and a persistent upward fast/slow rotation are required before the declining structure is considered repaired.

Range context +4.2%

Annualized volatility +34.0%

From structural high -27.3%

From structural low +4.1%

Point-in-time evidence

What followed this architecture in this market?

Descriptive history, never a forecast

Historical comparisons use only the structural read that would have been available at each completed observation. Independent observations are used where possible, with benchmark comparison beginning after each recognized state.

Outcome horizon	Samples	Median move	Positive periods	Directional follow-through	Median excess vs 000001.SS	Regime survived	Read
Near term	16	+3.5%-9.8% to +25.9%	+75.0%	+25.0%	+3.0%	+62.5%	Usable descriptive sample
Intermediate	6	+3.7%-5.1% to +27.9%	+66.7%	+33.3%	+6.8%	+33.3%	Usable descriptive sample
Extended	5	+11.5%-3.9% to +17.7%	+60.0%	+40.0%	+12.0%	+20.0%	Usable descriptive sample
Full cycle	3	+30.8%+16.3% to +39.0%	+100.0%	+0.0%	+29.3%	+0.0%	Too little matched history

Evidence framework

What the analysis measures and where its limits lie

Trend Architecture

Trend Architecture brings Price, Fast Activity, Slow Activity and Trend into one structural read. It identifies balance, rotation, expansion, deceleration and contraction while requiring persistent evidence for confirmed regime changes.

Evidence roles

Trend, Activity, relative strength, volume and Fair Value each have a defined role in the SM evidence framework. No single reading is treated as sufficient on its own, and conflicting evidence remains visible.

Fair Value and RS

Current Fair Value provides a long-term price anchor and shows whether price is trading above, below or repairing toward that reference. Relative Strength compares the security with its benchmark and shows whether leadership is improving or weakening.

Known limitations

Weekly structure recognizes conditions after they develop. Event gaps can bypass smooth transitions, sideways markets can rotate repeatedly, and historical samples for a particular regime can be thin.

Independent market research for education. Not investment advice, a recommendation, a forecast, a target, or an execution instruction. Historical regime behaviour does not establish what happens next.

603706 Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Send a message

Evidence context

What the Activity Line geometry says now

The weekly architecture is expanding downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength ?

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

Test the structure from another angle

Trend Persistence ↗

Directional State ↗

Similar Charts ↗

RMI Reversal Map ↗

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Relative Strength

Trend Persistence

Directional State

Similar Charts

RMI Reversal Map