Weekly structural research · SHH · Utilities

600905 Stage Analysis

China Three Gorges Renewables (Group) Co.,Ltd.

Week ending 9 Oct 2026Close CNY 3.55Tenure 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: weakening.
Activity structure: wide and expanding.

Direction -77−100 bearish to +100 bullish

Energy 90/100directional strength

Maturity 40/100lifecycle context

Confidence 94/100evidence agreement

Trend gate Downstructural direction

Activity structure Wideexpanding separation

Price acceptance -100.0%position within the Activity structure

Fair Value context -16.7%CNY 4.26 · 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.
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	3.55	3.92	-8.21	122280565	Downward Expansion	-77	90
2026-10-02	3.52	3.95	-9.94	219941678	Downward Expansion	-89	93
2026-09-25	3.61	3.97	-9.08	206432570	Downward Expansion	-80	89
2026-09-18	3.65	3.99	-8.94	325829661	Downward Expansion	-72	76
2026-09-11	3.66	4.01	-8.44	326379570	Downward Expansion	-72	78
2026-09-04	3.68	4.02	-9.23	62994299	Downward Expansion	-71	78
2026-08-28	3.72	4.03	-9.03	55003666	Downward Expansion	-66	69
2026-08-21	3.69	4.05	-8.98	36657099	Downward Expansion	-72	55
2026-08-14	3.73	4.06	-8.84	76223800	Downward Expansion	-69	48
2026-08-07	3.77	4.08	-8.53	82387999	Downward Expansion	-66	47
2026-07-31	3.90	4.09	-3.13	103188061	Downward Expansion	-61	51
2026-07-24	3.86	4.10	-3.99	113861782	Downward Expansion	-65	81
2026-07-17	3.76	4.11	-5.54	185647426	Downward Expansion	-65	86
2026-07-10	3.70	4.12	-12.77	105177774	Downward Expansion	-79	90
2026-07-03	3.73	4.13	-13.57	82961900	Downward Expansion	-82	85
2026-06-26	3.74	4.15	-13.46	146027014	Downward Expansion	-78	64
2026-06-19	4.07	4.16	-7.82	757183476	Balance	-39	16
2026-06-12	4.18	4.17	-4.36	418030551	Balance	3	5
2026-06-05	4.21	4.18	-3.94	243682733	Balance	-15	7
2026-05-29	4.17	4.18	-6.16	871609005	Downward Expansion	-35	16
2026-05-22	4.11	4.18	-8.90	785279889	Downward Expansion	-51	26
2026-05-15	4.11	4.19	-9.82	1146358646	Downward Expansion	-52	28
2026-05-08	4.16	4.20	-10.12	543276163	Downward Expansion	-52	39
2026-05-01	4.09	4.20	-10.62	465704022	Downward Expansion	-55	39
2026-04-24	4.11	4.20	-9.92	706215091	Balance	-44	36
2026-04-17	4.10	4.21	-9.94	524520589	Balance	-24	20
2026-04-10	4.11	4.22	-8.71	503337756	Rotation Up	-17	8
2026-04-03	4.09	4.22	-7.05	1288517972	Rotation Up	1	23
2026-03-27	4.44	4.23	-0.29	2248765092	Rotation Up	39	56
2026-03-20	4.33	4.22	-4.00	1499942505	Rotation Up	28	41
2026-03-13	4.43	4.22	-5.31	2413224868	Rotation Up	43	41
2026-03-06	4.27	4.21	-9.58	1206476886	Downward Expansion	-8	9
2026-02-27	4.16	4.21	-13.03	513503443	Downward Expansion	-56	43
2026-02-13	4.08	4.22	-13.37	424202196	Downward Expansion	-68	52
2026-02-06	4.10	4.22	-12.96	581284613	Downward Expansion	-65	43
2026-01-30	4.11	4.23	-14.23	882636216	Downward Expansion	-63	39
2026-01-23	4.16	4.23	-13.96	700338500	Downward Expansion	-56	38
2026-01-16	4.14	4.23	-14.03	710589348	Downward Expansion	-60	47
2026-01-09	4.15	4.23	-14.59	413873410	Downward Expansion	-62	63
2026-01-02	4.09	4.23	-13.01	181084959	Downward Expansion	-75	76
2025-12-26	4.13	4.24	-12.43	316746187	Downward Expansion	-68	70
2025-12-19	4.13	4.24	-11.14	373287468	Rotation Down	-70	71
2025-12-12	4.14	4.24	-11.25	412155320	Rotation Down	-42	57
2025-12-05	4.20	4.25	-10.64	323941286	Rotation Down	-20	34
2025-11-28	4.18	4.25	-11.10	405419833	Upward Expansion	-23	27
2025-11-21	4.19	4.25	-10.03	690005527	Upward Expansion	9	9
2025-11-14	4.28	4.25	-12.09	583485616	Upward Expansion	45	20
2025-11-07	4.32	4.25	-11.85	724214582	Upward Expansion	54	27
2025-10-31	4.25	4.25	-12.75	1250271986	Upward Expansion	44	26
2025-10-24	4.30	4.25	-12.12	638602202	Upward Expansion	52	37
2025-10-17	4.30	4.24	-10.03	862998148	Upward Expansion	52	33
2025-10-10	4.32	4.24	-11.27	452898893	Upward Expansion	58	28
2025-10-03	4.25	4.24	-12.79	226952027	Upward Expansion	44	21
2025-09-26	4.28	4.23	-11.38	621673123	Upward Expansion	51	28
2025-09-19	4.25	4.23	-12.23	642465077	Upward Expansion	44	22
2025-09-12	4.29	4.22	-13.04	771141657	Upward Expansion	52	34
2025-09-05	4.27	4.22	-12.62	732392523	Upward Expansion	46	21
2025-08-29	4.25	4.22	-14.52	870130169	Upward Expansion	33	15
2025-08-22	4.28	4.21	-13.81	697181755	Upward Expansion	51	23
2025-08-15	4.21	4.21	-12.82	566649214	Upward Expansion	39	21
2025-08-08	4.25	4.21	-11.14	440203879	Upward Expansion	49	37
2025-08-01	4.24	4.20	-10.05	666183775	Upward Expansion	50	46
2025-07-25	4.31	4.20	-9.99	995775181	Balance	63	52
2025-07-18	4.23	4.20	-10.72	586887580	Balance	42	29
2025-07-11	4.26	4.21	-9.89	573677039	Balance	49	27
2025-07-04	4.24	4.21	-9.63	453422931	Balance	-24	13
2025-06-27	4.19	4.22	-9.75	411205289	Balance	-34	20
2025-06-20	4.18	4.23	-8.49	401696909	Balance	-27	17
2025-06-13	4.18	4.25	-9.14	461844384	Balance	-26	13
2025-06-06	4.21	4.26	-9.06	324295006	Balance	-13	8
2025-05-30	4.22	4.28	-8.13	317144414	Balance	-11	9
2025-05-23	4.24	4.29	-7.99	571290580	Balance	-11	9
2025-05-16	4.27	4.31	-8.11	538259319	Balance	-5	6
2025-05-09	4.23	4.31	-8.47	362786972	Balance	-18	10
2025-05-02	4.19	4.32	-7.82	369846362	Balance	-20	11
2025-04-25	4.22	4.34	-7.86	399563680	Balance	-18	15
2025-04-18	4.22	4.35	-7.61	522200689	Downward Expansion	-20	15
2025-04-11	4.23	4.34	-6.58	1063612928	Downward Expansion	-32	19
2025-04-04	4.26	4.33	-9.13	523535326	Downward Expansion	-38	21
2025-03-28	4.16	4.33	-11.73	478658950	Downward Expansion	-54	36
2025-03-21	4.19	4.34	-11.76	502131388	Downward Expansion	-45	36
2025-03-14	4.18	4.35	-13.64	421734451	Downward Expansion	-56	42
2025-03-07	4.11	4.37	-14.20	398685554	Downward Expansion	-65	46
2025-02-28	4.13	4.39	-12.84	449255699	Downward Expansion	-53	40
2025-02-21	4.20	4.40	-13.21	501697736	Downward Expansion	-48	40
2025-02-14	4.19	4.42	-12.87	407534165	Downward Expansion	-60	54
2025-02-07	4.20	4.43	-11.87	294676944	Downward Expansion	-63	71
2025-01-31	4.13	4.44	-12.23	89859800	Downward Expansion	-66	81
2025-01-24	4.11	4.44	-12.95	351674035	Downward Expansion	-72	81
2025-01-17	4.15	4.45	-12.04	474887361	Rotation Down	-71	77
2025-01-10	4.10	4.45	-11.50	413832329	Rotation Down	-52	66
2025-01-03	4.18	4.46	-10.96	451422723	Balance	-43	43
2024-12-27	4.38	4.47	-12.08	449170740	Balance	-16	16
2024-12-20	4.40	4.48	-11.03	475806509	Balance	-4	10
2024-12-13	4.47	4.48	-10.44	568359799	Balance	22	14
2024-12-06	4.54	4.48	-9.54	437393463	Balance	31	15
2024-11-29	4.49	4.48	-8.60	448545223	Balance	35	18
2024-11-22	4.52	4.49	-6.49	535856200	Balance	50	29
2024-11-15	4.60	4.49	-6.81	649933869	Balance	54	43
2024-11-08	4.76	4.49	-6.98	876757904	Balance	64	51
2024-11-01	4.69	4.49	-3.66	960776016	Balance	31	34
2024-10-25	4.64	4.48	-5.60	836373195	Balance	10	22
2024-10-18	4.44	4.48	-8.70	686672086	Balance	-2	17
2024-10-11	4.54	4.48	-5.57	1360624214	Balance	-20	15
2024-10-04	4.77	4.48	-4.28	433271515	Downward Expansion	-23	19
2024-09-27	4.42	4.48	-4.29	677851207	Downward Expansion	-62	73
2024-09-20	4.03	4.48	-1.73	222428300	Downward Expansion	-77	84
2024-09-13	4.01	4.50	-1.07	408318260	Balance	-79	68
2024-09-06	4.11	4.51	-0.95	699107694	Balance	-59	33
2024-08-30	4.50	4.52	5.53	371433169	Upward Expansion	35	20
2024-08-23	4.59	4.51	7.14	290135032	Upward Expansion	45	43
2024-08-16	4.66	4.50	7.83	421851514	Upward Expansion	49	49
2024-08-09	4.61	4.48	7.42	410312437	Balance	45	40
2024-08-02	4.67	4.47	7.22	685598929	Balance	41	34
2024-07-26	4.73	4.45	9.34	915530351	Balance	26	20
2024-07-19	4.53	4.44	1.51	519998628	Rotation Down	-11	17
2024-07-12	4.31	4.43	-3.22	411655356	Rotation Down	-30	55
2024-07-05	4.35	4.43	-1.83	406781446	Rotation Down	-19	48
2024-06-28	4.22	4.43	-5.36	507502249	Rotation Down	-33	52
2024-06-21	4.17	4.44	-7.56	855368334	Balance	-35	36
2024-06-14	4.55	4.45	-0.62	703233864	Balance	22	11
2024-06-07	4.53	4.45	-1.77	587539640	Balance	19	13
2024-05-31	4.52	4.46	-3.26	734716841	Upward Expansion	31	16
2024-05-24	4.49	4.46	-4.08	446885740	Upward Expansion	33	18
2024-05-17	4.51	4.46	-5.83	554597309	Upward Expansion	39	20
2024-05-10	4.59	4.47	-4.39	574550358	Upward Expansion	53	30
2024-05-03	4.54	4.47	-4.01	301265774	Upward Expansion	53	32
2024-04-26	4.61	4.47	-2.21	382956597	Rotation Up	28	26
2024-04-19	4.62	4.47	-1.38	521497207	Rotation Up	29	24
2024-04-12	4.63	4.48	0.25	551623485	Rotation Up	31	22
2024-04-05	4.57	4.48	-2.70	236428745	Rotation Up	17	18
2024-03-29	4.54	4.49	-2.58	300072687	Rotation Up	19	32
2024-03-22	4.48	4.50	-4.18	436938627	Rotation Up	21	34
2024-03-15	4.58	4.52	-2.53	536345363	Rotation Up	23	34
2024-03-08	4.72	4.54	0.67	635662031	Downward Expansion	40	40
2024-03-01	4.52	4.55	-3.15	475525512	Downward Expansion	-8	19
2024-02-23	4.50	4.57	-3.04	484857258	Downward Expansion	-18	20
2024-02-09	4.43	4.59	-0.09	640406363	Downward Expansion	-41	28
2024-02-02	4.25	4.62	0.39	463721873	Downward Expansion	-60	47
2024-01-26	4.31	4.64	-4.70	561678320	Downward Expansion	-64	55
2024-01-19	4.11	4.67	-6.79	453483632	Downward Expansion	-79	68
2024-01-12	4.22	4.70	-6.43	289763876	Downward Expansion	-68	66
2024-01-05	4.21	4.73	-8.46	269932680	Downward Expansion	-72	84
2023-12-29	4.23	4.77	-9.76	304964662	Downward Expansion	-74	89
2023-12-22	4.20	4.80	-8.84	318149834	Downward Expansion	-85	92
2023-12-15	4.28	4.83	-8.32	265837921	Downward Expansion	-84	91
2023-12-08	4.30	4.86	-9.06	353278952	Downward Expansion	-87	86
2023-12-01	4.47	4.89	-7.66	266599233	Downward Expansion	-72	64
2023-11-24	4.50	4.92	-7.64	231131065	Downward Expansion	-71	54
2023-11-17	4.57	4.94	-6.97	228364669	Downward Expansion	-65	50
2023-11-10	4.58	4.96	-6.61	240665482	Downward Expansion	-66	53
2023-11-03	4.63	4.99	-5.76	253601677	Downward Expansion	-62	53
2023-10-27	4.64	5.01	-5.55	362221607	Downward Expansion	-65	58
2023-10-20	4.58	5.03	-5.96	375715083	Downward Expansion	-73	67
2023-10-13	4.62	5.05	-8.65	276761671	Downward Expansion	-71	82
2023-09-29	4.63	5.07	-9.37	186095428	Downward Expansion	-73	89

Price vs TrendBelow-9.4%

Trend directionFalling-4.2%

Price vs current Fair ValueBelow anchor-16.7%

Fair Value directionMoving away-1.5%

Relative Strength vs benchmarkLagging-8.2%

Relative strength directionImproving+4.6%

Price momentumNegative-13.6%

Volume balanceSupply-led0.43×

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

-77 / ±100

-4.6 points since 2026-09-11

Energy

90 /100

+11.8 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.

600905 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance0

Rotation Up18

Upward Expansion22

Deceleration37

Rotation Down75

Downward Expansion100

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 26%Rotation Up 8%Upward Expansion 17%Rotation Down 6%Downward Expansion 44%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2026-06-26	2026-10-09	Established	-5.1%
Balance	2026-06-05	2026-06-19	New	-3.3%
Downward Expansion	2026-05-01	2026-05-29	Developing	+2.0%
Balance	2026-04-17	2026-04-24	New	+0.2%
Rotation Up	2026-03-13	2026-04-10	Developing	-7.2%
Downward Expansion	2025-12-26	2026-03-06	Developing	+3.4%
Rotation Down	2025-12-05	2025-12-19	New	-1.7%
Upward Expansion	2025-08-01	2025-11-28	Established	-1.5%
Balance	2025-04-25	2025-07-25	Established	+2.1%
Downward Expansion	2025-01-24	2025-04-18	Established	+2.6%
Rotation Down	2025-01-10	2025-01-17	New	+1.4%
Balance	2024-10-11	2025-01-03	Established	-7.8%
Downward Expansion	2024-09-20	2024-10-04	New	+18.6%
Balance	2024-09-06	2024-09-13	New	-2.4%

Classic Stage Analysis comparison

Stage 1 · Basing67

Stage 2 · Advancing0

Stage 3 · Distribution12

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: 90/100
Current Relative Strength: -8.21
Relative Strength direction: Improving
Price momentum: -13.6%
Excess performance vs benchmark: -9.3%
Utilities regime cohort: 100th percentile43 in cohort

Test 600905 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.54×

Latest completed volume relative to typical participation.

Up/down volume0.43×

Participation balance between advancing and declining observations.

Accumulation / distribution0 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

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 600905 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 3.57falling

Slow Activity CNY 3.79falling

Trend Reference CNY 3.92-9.4% close margin

Current Fair Value CNY 4.26-16.7% close margin

Structural low CNY 3.51shock / 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 +2.1%

Annualized volatility +15.1%

From structural high -24.0%

From structural low +1.1%

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	27	-0.2%-10.3% to +10.3%	+44.4%	+51.9%	-1.6%	+81.5%	Usable descriptive sample
Intermediate	9	-2.4%-9.6% to +9.4%	+33.3%	+66.7%	+1.1%	+55.6%	Usable descriptive sample
Extended	6	-2.0%-17.3% to +7.3%	+50.0%	+50.0%	-10.2%	+66.7%	Usable descriptive sample
Full cycle	3	-1.6%-21.7% to +1.1%	+33.3%	+66.7%	-15.0%	+66.7%	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.

600905 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