Weekly structural research · SHH · Industrials

600118 Stage Analysis

China Spacesat Co.,Ltd.

Week ending 2 Oct 2026Close CNY 55.03Tenure DevelopingBenchmark 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: improving.
Activity structure: wide and expanding.

Direction -73−100 bearish to +100 bullish

Energy 69/100directional strength

Maturity 51/100lifecycle context

Confidence 94/100evidence agreement

Trend gate Downstructural direction

Activity structure Wideexpanding separation

Price acceptance -83.3%position within the Activity structure

Fair Value context +32.7%CNY 41.46 · 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
2026-10-02	55.03	75.69	-20.20	44136963	Downward Expansion	-73	69
2026-09-25	57.91	76.97	-16.55	88834241	Downward Expansion	-67	66
2026-09-18	59.60	78.09	-14.10	96488810	Downward Expansion	-64	66
2026-09-11	57.94	78.98	-15.49	103765759	Downward Expansion	-69	72
2026-09-04	57.62	80.07	-16.28	19717883	Downward Expansion	-74	70
2026-08-28	60.23	81.19	-12.55	21054501	Downward Expansion	-70	60
2026-08-21	62.10	82.81	-8.01	35299741	Downward Expansion	-67	70
2026-08-14	66.84	84.14	-0.67	26386356	Downward Expansion	-61	75
2026-08-07	68.68	85.44	2.74	52734422	Downward Expansion	-61	76
2026-07-31	57.44	86.32	-10.71	37560690	Downward Expansion	-75	79
2026-07-24	57.78	87.07	-9.02	30024000	Downward Expansion	-78	65
2026-07-17	61.12	87.10	-1.65	67465346	Rotation Down	-75	41
2026-07-10	88.25	86.80	35.07	62560095	Rotation Down	-18	14
2026-07-03	84.60	85.47	30.10	67607192	Rotation Down	-28	36
2026-06-26	76.24	84.10	19.55	90157878	Rotation Down	-35	49
2026-06-19	76.52	82.88	19.74	182134539	Balance	-36	36
2026-06-12	78.00	81.77	25.49	57777921	Balance	3	22
2026-06-05	84.95	80.66	38.75	76574468	Balance	17	20
2026-05-29	76.93	79.26	26.44	218235776	Upward Expansion	14	11
2026-05-22	85.19	78.00	40.51	274580525	Upward Expansion	51	49
2026-05-15	95.82	76.38	59.87	340534416	Upward Expansion	62	74
2026-05-08	114.18	74.40	92.34	223797212	Upward Expansion	87	87
2026-05-01	102.80	71.83	80.80	246583146	Deceleration	67	61
2026-04-24	96.30	69.56	74.88	481162732	Deceleration	54	30
2026-04-17	85.93	67.51	60.72	240172599	Deceleration	16	17
2026-04-10	78.92	65.92	52.94	127427052	Deceleration	13	20
2026-04-03	76.85	64.39	55.74	194711260	Deceleration	17	19
2026-03-27	77.75	63.15	59.08	148423189	Deceleration	33	20
2026-03-20	81.65	61.56	68.25	159830345	Deceleration	39	29
2026-03-13	87.37	59.83	77.37	199779934	Deceleration	42	34
2026-03-06	93.47	57.92	92.40	364008439	Deceleration	45	39
2026-02-27	91.68	55.76	91.53	193176150	Upward Expansion	48	43
2026-02-13	86.25	53.65	88.11	196198060	Upward Expansion	53	55
2026-02-06	90.55	51.71	102.78	354719138	Upward Expansion	66	66
2026-01-30	91.26	49.61	106.88	409828768	Upward Expansion	68	68
2026-01-23	108.90	47.51	152.29	545689461	Upward Expansion	83	93
2026-01-16	101.90	44.81	146.44	656728454	Upward Expansion	83	94
2026-01-09	106.05	42.29	163.78	826988220	Upward Expansion	98	99
2026-01-02	94.95	39.66	154.02	527278499	Upward Expansion	99	100
2025-12-26	80.00	37.41	121.48	810591369	Upward Expansion	98	99
2025-12-19	58.72	35.66	69.80	590843951	Upward Expansion	93	95
2025-12-12	52.10	34.58	52.81	536367300	Upward Expansion	88	83
2025-12-05	48.31	33.72	42.52	368636886	Upward Expansion	84	64
2025-11-28	43.40	33.00	29.60	244708391	Upward Expansion	69	58
2025-11-21	39.85	32.41	21.19	156870952	Upward Expansion	64	57
2025-11-14	43.20	31.95	26.87	330360553	Upward Expansion	70	75
2025-11-07	44.50	31.38	31.14	306388448	Upward Expansion	82	74
2025-10-31	42.96	30.77	28.55	492035792	Upward Expansion	81	59
2025-10-24	39.12	30.22	18.04	257671065	Upward Expansion	71	52
2025-10-17	36.73	29.80	14.52	257472802	Upward Expansion	62	46
2025-10-10	36.45	29.50	12.43	77439289	Upward Expansion	62	49
2025-10-03	36.99	29.24	14.95	92957435	Upward Expansion	70	56
2025-09-26	34.56	28.95	9.45	126149337	Upward Expansion	61	54
2025-09-19	34.99	28.69	11.43	236525134	Upward Expansion	65	77
2025-09-12	38.17	28.44	20.44	466875070	Upward Expansion	85	88
2025-09-05	32.92	28.09	6.05	332767780	Upward Expansion	66	78
2025-08-29	39.64	27.89	26.54	634968703	Upward Expansion	98	95
2025-08-22	30.27	27.41	-1.89	132870600	Upward Expansion	74	72
2025-08-15	29.50	27.25	-0.91	124378548	Upward Expansion	67	66
2025-08-08	30.07	27.14	2.84	151768170	Upward Expansion	78	67
2025-08-01	28.70	26.99	0.33	123859578	Upward Expansion	64	53
2025-07-25	28.45	26.90	-1.60	99214387	Upward Expansion	61	55
2025-07-18	28.04	26.92	-1.27	60849449	Upward Expansion	57	52
2025-07-11	27.71	26.96	-1.53	60447502	Balance	51	41
2025-07-04	28.26	27.07	1.79	109179507	Balance	32	26
2025-06-27	27.71	27.10	1.44	86978637	Balance	15	13
2025-06-20	26.46	27.20	-1.14	45984870	Balance	-19	15
2025-06-13	27.06	27.21	0.66	69583141	Balance	-21	17
2025-06-06	27.45	27.26	1.95	61375689	Balance	-17	14
2025-05-30	27.65	27.40	3.91	73850231	Downward Expansion	-19	12
2025-05-23	26.21	27.32	-1.49	48649248	Downward Expansion	-49	25
2025-05-16	26.38	27.32	-1.39	75859173	Downward Expansion	-50	28
2025-05-09	26.70	27.29	0.58	58170166	Downward Expansion	-53	42
2025-05-02	25.63	27.23	-1.62	15750206	Downward Expansion	-62	57
2025-04-25	25.93	27.21	-0.97	33892671	Downward Expansion	-58	53
2025-04-18	26.09	27.12	0.18	45745372	Deceleration	-28	31
2025-04-11	26.39	26.93	2.51	97814985	Deceleration	-13	15
2025-04-04	26.51	26.73	-0.16	36422315	Deceleration	8	4
2025-03-28	26.42	26.53	-0.85	58143132	Deceleration	32	19
2025-03-21	27.67	26.36	3.29	63843022	Deceleration	50	34
2025-03-14	28.59	26.13	4.99	82477127	Deceleration	49	35
2025-03-07	28.39	25.89	5.67	127309840	Deceleration	44	27
2025-02-28	26.69	25.70	0.88	85463165	Deceleration	28	20
2025-02-21	27.66	25.64	2.61	71803211	Deceleration	29	16
2025-02-14	27.41	25.43	2.64	84651684	Deceleration	10	10
2025-02-07	27.02	25.21	2.40	60737403	Deceleration	4	13
2025-01-31	25.28	24.98	-2.62	9089300	Deceleration	-1	17
2025-01-24	25.55	24.85	-1.78	53277742	Deceleration	2	17
2025-01-17	26.03	24.73	0.27	77867163	Deceleration	20	19
2025-01-10	25.67	24.62	1.05	53982202	Deceleration	25	18
2025-01-03	25.86	24.54	0.34	68194215	Upward Expansion	38	26
2024-12-27	29.09	24.48	6.44	97942063	Upward Expansion	56	42
2024-12-20	29.33	24.35	8.32	150709070	Upward Expansion	59	47
2024-12-13	31.15	24.16	14.25	236119388	Upward Expansion	72	53
2024-12-06	29.05	23.94	6.30	151721953	Upward Expansion	60	50
2024-11-29	30.70	23.83	14.89	240353967	Upward Expansion	78	67
2024-11-22	26.88	23.62	2.52	125395230	Upward Expansion	64	65
2024-11-15	28.39	23.54	5.96	317851570	Upward Expansion	69	79
2024-11-08	31.53	23.42	13.34	305067111	Rotation Up	95	93
2024-11-01	25.30	23.16	-4.02	132622346	Rotation Up	38	67
2024-10-25	26.37	23.16	-1.13	237531746	Rotation Up	48	69
2024-10-18	25.47	23.14	-3.57	89780599	Rotation Up	35	45
2024-10-11	24.77	23.13	-5.06	141125946	Downward Expansion	30	35
2024-10-04	25.09	23.18	-7.35	35763675	Downward Expansion	10	16
2024-09-27	23.24	23.20	-7.39	55632985	Downward Expansion	-38	26
2024-09-20	20.48	23.29	-8.10	13223715	Downward Expansion	-64	64
2024-09-13	20.23	23.43	-8.43	17793980	Downward Expansion	-69	68
2024-09-06	20.67	23.58	-8.71	21345288	Downward Expansion	-64	61
2024-08-30	21.11	23.63	-9.37	27344504	Downward Expansion	-60	41
2024-08-23	20.86	23.74	-11.03	25862437	Downward Expansion	-51	26
2024-08-16	21.49	23.84	-9.34	36901194	Downward Expansion	-44	25
2024-08-09	22.46	23.94	-4.88	145016195	Downward Expansion	-38	21
2024-08-02	24.97	24.02	4.03	150599493	Downward Expansion	-27	28
2024-07-26	21.33	24.05	-10.74	32200937	Downward Expansion	-66	80
2024-07-19	20.76	24.18	-16.20	28064049	Downward Expansion	-73	86
2024-07-12	20.16	24.34	-18.73	45898979	Downward Expansion	-87	89
2024-07-05	21.34	24.52	-13.75	18148793	Downward Expansion	-79	81
2024-06-28	22.22	24.70	-11.08	29590697	Downward Expansion	-74	73
2024-06-21	22.70	24.85	-10.33	29187102	Downward Expansion	-69	58
2024-06-14	23.22	25.03	-9.51	33516575	Balance	-63	50
2024-06-07	24.02	25.20	-7.12	55471960	Balance	-52	33
2024-05-31	25.12	25.31	-4.04	55655445	Balance	-37	16
2024-05-24	23.81	25.39	-9.12	40127727	Balance	-58	29
2024-05-17	24.55	25.47	-8.26	38004634	Balance	-48	21
2024-05-10	25.49	25.51	-4.74	82385560	Balance	-27	14
2024-05-03	24.58	25.50	-6.66	23421802	Balance	-38	30
2024-04-26	24.55	25.53	-6.47	48933579	Balance	-38	25
2024-04-19	24.65	25.58	-5.48	58709543	Balance	-34	19
2024-04-12	23.84	25.68	-7.34	35945117	Balance	-41	20
2024-04-05	25.32	25.76	-3.33	28207231	Balance	-11	9
2024-03-29	25.61	25.72	-1.47	83347370	Balance	-10	11
2024-03-22	25.32	25.75	-3.11	61798160	Balance	-18	18
2024-03-15	26.05	25.78	-0.80	53929244	Downward Expansion	-15	18
2024-03-08	25.72	25.83	-1.89	66753425	Downward Expansion	-24	18
2024-03-01	26.00	25.89	-0.28	88713335	Downward Expansion	-31	18
2024-02-23	24.86	25.96	-3.68	53705106	Downward Expansion	-55	35
2024-02-09	24.65	26.16	0.38	61966965	Downward Expansion	-60	48
2024-02-02	22.25	26.31	-4.56	55915533	Downward Expansion	-81	74
2024-01-26	24.36	26.51	-1.72	53959004	Downward Expansion	-62	60
2024-01-19	23.75	26.66	-1.18	36614745	Downward Expansion	-73	62
2024-01-12	24.61	26.80	0.94	47578749	Downward Expansion	-65	57
2024-01-05	24.94	26.90	1.01	21516455	Downward Expansion	-64	62
2023-12-29	25.76	26.97	3.15	30684228	Downward Expansion	-56	56
2023-12-22	25.18	26.97	3.26	23733993	Balance	-62	54
2023-12-15	25.50	27.04	3.99	31490372	Balance	-47	32
2023-12-08	25.66	27.04	4.01	42230531	Balance	-41	19
2023-12-01	26.61	27.05	5.98	38290267	Balance	8	12
2023-11-24	26.84	27.04	6.89	73292286	Balance	15	21
2023-11-17	28.22	27.12	12.24	121047542	Balance	23	27
2023-11-10	28.07	27.11	12.67	106612705	Balance	20	21
2023-11-03	27.49	27.15	11.11	99710886	Downward Expansion	-17	13
2023-10-27	27.51	27.18	12.19	163810411	Downward Expansion	-26	14
2023-10-20	26.17	27.23	8.61	106971235	Downward Expansion	-50	35
2023-10-13	25.73	27.42	3.72	47700836	Downward Expansion	-52	39
2023-09-29	25.32	27.59	1.66	21449619	Downward Expansion	-57	31
2023-09-22	25.43	27.75	1.72	36711655	Downward Expansion	-57	30

Price vs TrendBelow-27.3%

Trend directionFalling-13.1%

Price vs current Fair ValuePremium+32.7%

Fair Value directionMoving away-86.7%

Relative Strength vs benchmarkLagging-20.2%

Relative strength directionWeakening-50.3%

Price momentumNegative-28.4%

Volume balanceSupply-led0.85×

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

-73 / ±100

+0.4 points since 2026-09-04

Energy

69 /100

-0.7 points since 2026-09-04

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

600118 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance5

Rotation Up26

Upward Expansion14

Deceleration43

Rotation Down60

Downward Expansion90

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

2023-09-22 to 2026-10-02 · 156 classified observations out of 156 shown.

Balance 19%Rotation Up 3%Upward Expansion 28%Deceleration 15%Rotation Down 3%Downward Expansion 33%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2026-07-24	2026-10-02	Developing	-4.8%
Rotation Down	2026-06-26	2026-07-17	New	-19.8%
Balance	2026-06-05	2026-06-19	New	-9.9%
Upward Expansion	2026-05-08	2026-05-29	New	-32.6%
Deceleration	2026-03-06	2026-05-01	Developing	+10.0%
Upward Expansion	2025-07-18	2026-02-27	Extended	+227.0%
Balance	2025-06-06	2025-07-11	Developing	+0.9%
Downward Expansion	2025-04-25	2025-05-30	Developing	+6.6%
Deceleration	2025-01-10	2025-04-18	Established	+1.6%
Upward Expansion	2024-11-15	2025-01-03	Developing	-8.9%
Rotation Up	2024-10-18	2024-11-08	New	+23.8%
Downward Expansion	2024-06-21	2024-10-11	Established	+9.1%
Balance	2024-03-22	2024-06-14	Established	-8.3%
Downward Expansion	2023-12-29	2024-03-15	Developing	+1.1%

Classic Stage Analysis comparison

Stage 1 · Basing28

Stage 2 · Advancing0

Stage 3 · Distribution42

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: 88/100
Current Relative Strength: -20.20
Relative Strength direction: Weakening
Price momentum: -28.4%
Excess performance vs benchmark: -27.4%
Industrials regime cohort: 68th percentile330 in cohort

Test 600118 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.53×

Latest completed volume relative to typical participation.

Up/down volume0.85×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 1

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationImproving

Current relationship between Fast Activity and Slow Activity.

Structure stability+0.0%

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 600118 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 57.27falling

Slow Activity CNY 69.39falling

Trend Reference CNY 75.69-27.3% close margin

Current Fair Value CNY 41.46+32.7% close margin

Structural low CNY 54.77shock / 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 +11.5%

Annualized volatility +77.5%

From structural high -56.9%

From structural low +62.3%

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	28	+0.2%-17.0% to +27.3%	+50.0%	+50.0%	-0.7%	+82.1%	Usable descriptive sample
Intermediate	10	-2.0%-22.6% to +43.2%	+30.0%	+70.0%	-1.8%	+50.0%	Usable descriptive sample
Extended	6	-0.0%-13.5% to +50.9%	+50.0%	+50.0%	+0.3%	+33.3%	Usable descriptive sample
Full cycle	4	+3.0%-26.2% to +70.8%	+50.0%	+50.0%	+6.5%	+50.0%	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.

600118 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