Weekly structural research ยท SHZ ยท Utilities

001299 Stage Analysis

Shaanxi Meineng Clean Energy Corp.,Ltd.

Week ending 9 Oct 2026Close CNY 10.19Tenure NewBenchmark 399001.SZ
Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction
Balance ยท Upper balance after advance

Directional pressure has compressed into balance.

Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base.

  • The Trend gate is down within the current regime.
  • Fast Activity versus Slow Activity: weakening.
  • Activity structure: compressed and contracting.
Direction -33โˆ’100 bearish to +100 bullish
Energy 21/100directional strength
Maturity 19/100lifecycle context
Confidence 58/100evidence agreement
Trend gate Downstructural direction
Activity structure Compressedcontracting separation
Price acceptance -16.7%position within the Activity structure
Fair Value context +23.6%CNY 8.25 ยท improving
Trend Architecture map ยท 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 ยท 156 observations
WeekCloseTrendRelative StrengthVolumeRegimeDirectionEnergy
2026-10-0910.1910.5512.7113190576Balance-3321
2026-10-0210.0910.569.9412246799Balance-3617
2026-09-2510.1610.567.4636544536Balance-1916
2026-09-189.8510.561.8995441196Balance-3423
2026-09-1110.9010.5514.08143293676Rotation Up519
2026-09-0411.7010.5222.3139838188Rotation Up-113
2026-08-289.7810.45-0.579374582Rotation Down-4529
2026-08-2110.1310.451.854107786Rotation Down-1821
2026-08-149.8010.43-3.402080150Rotation Down-3239
2026-08-079.8310.41-3.201911020Rotation Down-3551
2026-07-319.6310.45-0.422228570Rotation Down-2854
2026-07-249.1910.42-6.482099672Rotation Down-4058
2026-07-179.7910.41-0.184646186Balance-3045
2026-07-109.9710.36-7.583063089Balance-2328
2026-07-0310.4310.31-7.013680514Balance1520
2026-06-2610.2010.26-10.364620000Upward Expansion1616
2026-06-1910.5010.21-9.5528800622Upward Expansion3422
2026-06-1211.2410.183.299294263Upward Expansion5741
2026-06-0511.8710.116.4716404911Upward Expansion6259
2026-05-2912.6710.0311.7186268951Upward Expansion7565
2026-05-2212.009.915.7570322905Upward Expansion7157
2026-05-1511.689.823.1258814123Upward Expansion6956
2026-05-0811.299.73-0.4328750452Upward Expansion6353
2026-05-0110.949.65-0.7657756272Upward Expansion5960
2026-04-2410.969.580.3685261473Upward Expansion5954
2026-04-1710.959.510.55174364346Upward Expansion6147
2026-04-1011.299.477.7336534145Upward Expansion7242
2026-04-039.689.40-0.9332022289Upward Expansion3720
2026-03-2710.059.38-0.1230938216Upward Expansion5029
2026-03-209.869.35-2.5137020620Upward Expansion5237
2026-03-1310.299.32-1.0260290081Upward Expansion6044
2026-03-0610.139.29-1.5793322528Upward Expansion5838
2026-02-2710.179.25-3.1526239421Rotation Up5935
2026-02-139.699.20-4.8238181403Rotation Up4928
2026-02-069.809.16-2.3144956252Rotation Up5329
2026-01-309.719.11-5.1354827961Rotation Up4932
2026-01-239.809.06-5.6849057242Rotation Up5444
2026-01-169.339.00-9.1267034502Rotation Up4733
2026-01-099.488.96-6.62110168054Rotation Up4532
2026-01-0210.848.9211.6261876659Rotation Up6737
2025-12-268.918.82-8.4161394884Balance-1423
2025-12-198.778.79-6.6947000688Balance-1527
2025-12-128.338.76-12.0723268336Balance-2326
2025-12-058.368.75-11.1550503719Balance-210
2025-11-288.938.74-3.93122343751Upward Expansion209
2025-11-218.738.70-2.8226185614Upward Expansion3822
2025-11-149.508.670.4242401250Upward Expansion6242
2025-11-079.308.61-2.9174666554Upward Expansion5536
2025-10-319.348.55-2.1827460794Deceleration6037
2025-10-249.278.49-2.0725279835Deceleration4726
2025-10-179.128.430.9918104844Deceleration3821
2025-10-109.048.36-4.679046420Deceleration3722
2025-10-038.778.29-8.636465708Upward Expansion4432
2025-09-268.858.22-5.5518558939Upward Expansion5946
2025-09-199.108.14-1.7639422442Upward Expansion6355
2025-09-129.718.065.9339277434Upward Expansion8466
2025-09-059.197.973.0722074461Upward Expansion6959
2025-08-299.157.891.7626068020Upward Expansion7063
2025-08-228.997.814.4020972743Upward Expansion6779
2025-08-159.017.739.4623913688Upward Expansion6986
2025-08-089.267.6517.8039839160Upward Expansion8894
2025-08-019.007.5516.2030964844Upward Expansion8691
2025-07-258.677.4610.3816864084Upward Expansion7982
2025-07-188.497.3910.9016140363Upward Expansion7567
2025-07-118.427.3412.4920873911Upward Expansion7553
2025-07-048.137.3110.7719396981Upward Expansion6145
2025-06-277.977.2810.2632303426Upward Expansion5844
2025-06-208.107.2516.4662894303Upward Expansion6046
2025-06-138.267.2217.6929887348Upward Expansion7253
2025-06-068.037.1814.1714660281Upward Expansion6552
2025-05-307.907.1514.2015834045Upward Expansion6253
2025-05-237.897.1113.3023521092Upward Expansion6461
2025-05-168.027.0814.8221503014Upward Expansion7267
2025-05-097.937.0314.3521489487Upward Expansion7167
2025-05-027.786.9814.9324121812Upward Expansion6770
2025-04-257.916.9416.9836238670Upward Expansion7780
2025-04-187.606.8914.4532556575Upward Expansion6976
2025-04-117.616.8214.1556084689Upward Expansion7173
2025-04-047.676.769.1961439226Upward Expansion7671
2025-03-287.336.701.6843774664Deceleration6449
2025-03-217.026.65-3.3518483642Deceleration5224
2025-03-146.896.61-7.5717010197Deceleration3613
2025-03-076.726.59-8.8514795364Deceleration2613
2025-02-286.536.57-9.7117930055Deceleration2012
2025-02-216.676.56-10.9944941299Deceleration3018
2025-02-147.006.54-4.6325681743Deceleration4021
2025-02-076.786.51-5.947142447Deceleration148
2025-01-316.656.49-4.213107065Deceleration814
2025-01-246.556.47-7.4311503956Deceleration619
2025-01-176.606.46-6.0216651865Deceleration820
2025-01-106.246.45-8.5116471670Deceleration720
2025-01-036.406.45-7.7716118923Deceleration2216
2024-12-276.736.45-10.3215172428Upward Expansion4326
2024-12-206.936.45-8.2417090970Upward Expansion5839
2024-12-137.316.45-4.5724994993Upward Expansion6551
2024-12-067.246.43-6.8029879863Upward Expansion6555
2024-11-297.326.42-4.7153875816Upward Expansion7264
2024-11-227.086.40-6.7832789920Upward Expansion6658
2024-11-157.106.37-9.7855351764Rotation Up7166
2024-11-087.096.35-13.7926844800Rotation Up4961
2024-11-016.696.36-13.7324286568Rotation Up2650
2024-10-256.866.40-13.3630546165Rotation Up3549
2024-10-186.536.38-15.9220146009Downward Expansion2131
2024-10-116.446.37-15.2236122963Downward Expansion-417
2024-10-046.766.38-15.5710285514Downward Expansion-38
2024-09-276.276.36-13.8714599786Downward Expansion-4832
2024-09-205.686.35-8.784964713Downward Expansion-6562
2024-09-135.646.36-9.057624435Downward Expansion-7066
2024-09-065.846.34-8.188849223Downward Expansion-6154
2024-08-306.066.35-7.9413148200Downward Expansion-5340
2024-08-235.756.40-11.4211499098Downward Expansion-6842
2024-08-166.136.46-7.9214925235Downward Expansion-5230
2024-08-096.186.52-7.629956849Downward Expansion-5232
2024-08-026.226.58-8.8311748298Downward Expansion-5335
2024-07-266.036.64-12.177723894Downward Expansion-6149
2024-07-196.056.71-15.058626185Downward Expansion-6150
2024-07-126.286.81-11.5513963118Downward Expansion-5545
2024-07-056.116.89-12.4210269285Balance-5847
2024-06-286.256.98-12.0214561885Balance-5339
2024-06-216.207.06-14.8012831663Balance-5434
2024-06-146.417.15-13.9515166826Balance-3921
2024-06-076.447.24-13.7327895875Balance-3919
2024-05-316.687.31-11.8543270317Balance-2110
2024-05-246.84โ€”โ€”41151884Not yet classifiedโ€”โ€”
2024-05-176.75โ€”โ€”60720307Not yet classifiedโ€”โ€”
2024-05-106.99โ€”โ€”56915402Not yet classifiedโ€”โ€”
2024-05-036.51โ€”โ€”17520836Not yet classifiedโ€”โ€”
2024-04-266.41โ€”โ€”60754196Not yet classifiedโ€”โ€”
2024-04-196.53โ€”โ€”48729462Not yet classifiedโ€”โ€”
2024-04-127.20โ€”โ€”126964035Not yet classifiedโ€”โ€”
2024-04-057.82โ€”โ€”47412727Not yet classifiedโ€”โ€”
2024-03-296.38โ€”โ€”23165143Not yet classifiedโ€”โ€”
2024-03-226.36โ€”โ€”32620596Not yet classifiedโ€”โ€”
2024-03-156.52โ€”โ€”51487269Not yet classifiedโ€”โ€”
2024-03-086.34โ€”โ€”52040256Not yet classifiedโ€”โ€”
2024-03-016.04โ€”โ€”40105305Not yet classifiedโ€”โ€”
2024-02-235.94โ€”โ€”35127975Not yet classifiedโ€”โ€”
2024-02-095.05โ€”โ€”32695773Not yet classifiedโ€”โ€”
2024-02-026.12โ€”โ€”17503076Not yet classifiedโ€”โ€”
2024-01-267.46โ€”โ€”21410473Not yet classifiedโ€”โ€”
2024-01-197.43โ€”โ€”17832542Not yet classifiedโ€”โ€”
2024-01-127.97โ€”โ€”14855483Not yet classifiedโ€”โ€”
2024-01-058.06โ€”โ€”18499305Not yet classifiedโ€”โ€”
2023-12-298.05โ€”โ€”24089991Not yet classifiedโ€”โ€”
2023-12-228.20โ€”โ€”38728425Not yet classifiedโ€”โ€”
2023-12-158.97โ€”โ€”81013090Not yet classifiedโ€”โ€”
2023-12-088.69โ€”โ€”33302187Not yet classifiedโ€”โ€”
2023-12-018.80โ€”โ€”36070739Not yet classifiedโ€”โ€”
2023-11-248.78โ€”โ€”31395237Not yet classifiedโ€”โ€”
2023-11-178.91โ€”โ€”46634584Not yet classifiedโ€”โ€”
2023-11-108.98โ€”โ€”45388382Not yet classifiedโ€”โ€”
2023-11-038.60โ€”โ€”27530309Not yet classifiedโ€”โ€”
2023-10-278.49โ€”โ€”31116722Not yet classifiedโ€”โ€”
2023-10-208.39โ€”โ€”60800410Not yet classifiedโ€”โ€”
2023-10-138.75โ€”โ€”73337384Not yet classifiedโ€”โ€”
2023-09-299.48โ€”โ€”33594034Not yet classifiedโ€”โ€”
Price vs TrendBelow-3.5%
Trend directionRising+1.0%
Price vs current Fair ValuePremium+23.6%
Fair Value directionClosing upward+1.7%
Relative Strength vs benchmarkLeading+12.7%
Relative strength directionImproving+20.3%
Price momentumNegative-9.8%
Volume balanceSupply-led0.36ร—
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

-33 / ยฑ100

-38.6 points since 2026-09-11

Energy

21 /100

+1.8 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.

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated
Balance48
Rotation Up19
Upward Expansion12
Deceleration56
Rotation Down48
Downward Expansion66

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 todayโ€™s regime

2023-09-29 to 2026-10-09 ยท 123 classified observations out of 156 shown.

Balance 14%Rotation Up 11%Upward Expansion 44%Deceleration 14%Rotation Down 5%Downward Expansion 12%
Recent Trend Architecture ledger
RegimeRecognizedLast observationTenureMove inside regime
Balance2026-09-182026-10-09New+3.5%
Rotation Up2026-09-042026-09-11New-6.8%
Rotation Down2026-07-242026-08-28Developing+6.4%
Balance2026-07-032026-07-17New-6.1%
Upward Expansion2026-03-062026-06-26Established+0.7%
Rotation Up2026-01-022026-02-27Developing-6.3%
Balance2025-12-052025-12-26New+6.6%
Upward Expansion2025-11-072025-11-28New-4.0%
Deceleration2025-10-102025-10-31New+3.3%
Upward Expansion2025-04-042025-10-03Extended+14.2%
Deceleration2025-01-032025-03-28Established+14.6%
Upward Expansion2024-11-222024-12-27Developing-4.9%
Rotation Up2024-10-252024-11-15New+3.5%
Downward Expansion2024-07-122024-10-18Established+4.1%
Classic Stage Analysis comparison
Stage 1 ยท Basing60
Stage 2 ยท Advancing48
Stage 3 ยท Distribution51
Stage 4 ยท Declining44

Legacy result: Stage 3 ยท Stage 3B ยท Distribution. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus 399001.SZ

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

Leading benchmark

Architecture confirmation
31/100
Current Relative Strength
12.71
Relative Strength direction
Improving
Price momentum
-9.8%
Excess performance vs benchmark
+1.9%
Utilities regime cohort
31th percentile13 in cohort
Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry
Relative volume0.51ร—

Latest completed volume relative to typical participation.

Up/down volume0.36ร—

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+25.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+37.5%

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.

Decision architecture

References that would change the structural read

Evidence levels, not orders
Fast Activity CNY 10.16falling
Slow Activity CNY 10.41falling
Trend Reference CNY 10.55-3.5% close margin
Current Fair Value CNY 8.25+23.6% close margin
Structural low CNY 9.18shock / repair context
What changes the read?

Persistent fast/slow separation and fan expansion would end Balance; direction determines whether it becomes Rotation Up or Rotation Down.

Range context +9.4%
Annualized volatility +39.8%
From structural high -27.6%
From structural low +24.3%
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 movePositive periodsDirectional follow-through Median excess vs 399001.SZ Regime survived Read
Near term4-5.0%-7.7% to +29.7%+25.0%+25.0%+2.3%+25.0%Too little matched history
Intermediate3-3.3%-9.4% to +23.1%+33.3%+33.3%+14.1%+33.3%Too little matched history
Extended2+22.0%+9.6% to +34.5%+100.0%+100.0%+8.5%+0.0%Too little matched history
Full cycle1+18.2%+18.2% to +18.2%+100.0%+100.0%+11.0%+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.

Evidence context