Weekly structural research · SHH · Utilities

600323 Stage Analysis

Grandblue Environment Co., Ltd.

Week ending 9 Oct 2026Close CNY 29.81Tenure DevelopingBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Balance · Balance after decline

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 -20−100 bearish to +100 bullish

Energy 14/100directional strength

Maturity 28/100lifecycle context

Confidence 60/100evidence agreement

Trend gate Downstructural direction

Activity structure Compressedcontracting separation

Price acceptance +16.7%position within the Activity structure

Fair Value context +27.9%CNY 23.31 · improving

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	29.81	29.63	5.90	9139071	Balance	-20	14
2026-10-02	29.48	29.66	4.20	11517956	Balance	-30	20
2026-09-25	28.68	29.65	0.33	14626976	Balance	-43	23
2026-09-18	28.93	29.64	0.74	23978709	Balance	-33	16
2026-09-11	29.54	29.62	3.62	18207764	Balance	7	8
2026-09-04	29.99	29.61	4.26	4214000	Balance	12	11
2026-08-28	30.23	29.59	4.74	2744545	Balance	15	11
2026-08-21	29.26	29.55	2.81	3327001	Balance	-3	12
2026-08-14	29.44	29.53	2.96	2790792	Balance	-0	18
2026-08-07	29.42	29.49	2.59	9407457	Balance	7	21
2026-07-31	30.96	29.46	10.94	7559278	Balance	20	19
2026-07-24	30.07	29.40	8.37	3972600	Downward Expansion	-4	10
2026-07-17	29.26	29.36	7.04	6957240	Downward Expansion	-60	59
2026-07-10	27.16	29.39	-6.18	5614865	Rotation Down	-70	75
2026-07-03	27.56	29.48	-5.90	5397089	Rotation Down	-40	60
2026-06-26	26.82	29.52	-8.05	6082050	Balance	-41	50
2026-06-19	28.15	29.60	-5.07	32919490	Balance	-26	21
2026-06-12	29.67	29.66	1.47	6518310	Balance	23	13
2026-06-05	29.91	29.67	2.43	6918361	Upward Expansion	32	14
2026-05-29	30.65	29.61	4.00	34418058	Upward Expansion	49	30
2026-05-22	30.48	29.55	2.45	23464161	Upward Expansion	51	47
2026-05-15	30.46	29.47	1.98	39832177	Upward Expansion	50	49
2026-05-08	31.43	29.38	4.25	21174890	Upward Expansion	57	40
2026-05-01	32.01	29.23	8.14	40534075	Upward Expansion	63	29
2026-04-24	30.19	29.06	3.09	24484029	Upward Expansion	36	17
2026-04-17	28.50	28.93	-1.85	24632711	Upward Expansion	20	10
2026-04-10	29.29	28.87	2.55	19574326	Upward Expansion	50	34
2026-04-03	29.98	28.77	7.94	25093038	Upward Expansion	55	56
2026-03-27	31.10	28.65	11.27	34033278	Upward Expansion	64	61
2026-03-20	30.39	28.48	7.98	31848812	Deceleration	59	48
2026-03-13	30.78	28.35	6.16	30361906	Deceleration	64	31
2026-03-06	29.09	28.22	0.03	37203364	Deceleration	22	10
2026-02-27	28.53	28.16	-2.62	31734203	Deceleration	17	9
2026-02-13	28.13	28.13	-1.88	18188582	Deceleration	22	14
2026-02-06	29.31	28.04	2.88	24831166	Deceleration	39	23
2026-01-30	29.54	27.86	2.58	33831891	Deceleration	41	18
2026-01-23	28.99	27.66	0.35	20626254	Deceleration	29	17
2026-01-16	28.60	27.47	-0.07	29617301	Deceleration	27	17
2026-01-09	28.13	27.30	-2.03	31051823	Deceleration	30	18
2026-01-02	28.60	27.16	3.46	13654870	Upward Expansion	40	25
2025-12-26	29.10	27.02	5.45	14115408	Upward Expansion	45	34
2025-12-19	29.11	26.84	7.70	16021266	Upward Expansion	56	40
2025-12-12	29.93	26.65	11.08	19246716	Upward Expansion	65	47
2025-12-05	29.93	26.42	11.13	18003318	Upward Expansion	67	51
2025-11-28	28.76	26.19	7.58	22771185	Upward Expansion	61	52
2025-11-21	29.25	25.97	11.30	23593782	Upward Expansion	63	58
2025-11-14	30.05	25.73	10.29	24692509	Upward Expansion	78	80
2025-11-07	29.80	25.48	9.57	30376962	Upward Expansion	82	82
2025-10-31	28.15	25.23	4.99	26220579	Upward Expansion	64	72
2025-10-24	28.75	25.07	7.52	35413702	Upward Expansion	77	76
2025-10-17	28.14	24.88	8.46	26539841	Upward Expansion	73	61
2025-10-10	27.93	24.66	6.28	11427884	Upward Expansion	72	47
2025-10-03	26.79	24.41	2.48	10422738	Upward Expansion	58	40
2025-09-26	27.07	24.20	5.21	24497615	Upward Expansion	64	42
2025-09-19	26.04	24.00	1.61	28020257	Upward Expansion	45	34
2025-09-12	26.82	23.82	3.36	36491488	Upward Expansion	55	42
2025-09-05	26.37	23.60	3.21	39233547	Upward Expansion	49	41
2025-08-29	26.17	23.44	1.19	48753337	Upward Expansion	60	51
2025-08-22	26.23	23.29	2.31	32329544	Upward Expansion	65	66
2025-08-15	26.45	23.14	6.66	26685204	Upward Expansion	68	87
2025-08-08	26.73	22.96	9.68	20655085	Upward Expansion	68	88
2025-08-01	27.26	22.77	14.26	24636987	Upward Expansion	83	92
2025-07-25	27.63	22.62	14.88	41213153	Upward Expansion	91	89
2025-07-18	25.56	22.44	8.21	43431602	Upward Expansion	81	57
2025-07-11	23.97	22.31	2.22	22276059	Upward Expansion	52	34
2025-07-04	23.40	22.23	0.81	17874790	Upward Expansion	45	31
2025-06-27	23.26	22.17	1.54	26968989	Upward Expansion	58	44
2025-06-20	23.68	22.08	5.41	19402230	Upward Expansion	62	63
2025-06-13	23.90	21.98	6.07	20990788	Upward Expansion	64	65
2025-06-06	24.26	21.88	7.65	15059427	Upward Expansion	72	71
2025-05-30	23.83	21.79	7.25	21028425	Upward Expansion	68	64
2025-05-23	23.40	21.71	5.63	26958951	Upward Expansion	62	46
2025-05-16	23.14	21.66	4.26	30885746	Upward Expansion	59	33
2025-05-09	22.76	21.62	3.67	21280209	Upward Expansion	54	28
2025-05-02	22.24	21.57	3.65	12968528	Upward Expansion	48	27
2025-04-25	22.13	21.52	2.98	22050465	Upward Expansion	53	49
2025-04-18	22.52	21.44	5.75	31352453	Upward Expansion	55	60
2025-04-11	22.36	21.30	6.62	68743198	Upward Expansion	53	53
2025-04-04	23.33	21.16	8.33	37795770	Balance	66	51
2025-03-28	22.99	21.03	7.00	44513742	Balance	51	26
2025-03-21	21.65	20.89	0.89	57375590	Balance	19	11
2025-03-14	20.49	20.85	-5.58	21511800	Balance	-18	29
2025-03-07	20.38	20.85	-4.49	30050507	Balance	-19	24
2025-02-28	21.04	20.85	0.48	39280767	Balance	10	15
2025-02-21	20.61	20.84	-2.86	47092902	Balance	5	11
2025-02-14	20.39	20.86	-2.66	29200174	Balance	2	6
2025-02-07	21.34	20.88	3.42	15451701	Upward Expansion	32	15
2025-01-31	21.79	20.87	7.76	4161505	Upward Expansion	37	19
2025-01-24	21.57	20.83	7.14	18155700	Upward Expansion	37	19
2025-01-17	21.15	20.76	5.86	27057435	Upward Expansion	51	31
2025-01-10	21.03	20.69	8.07	29453419	Upward Expansion	56	47
2025-01-03	22.67	20.62	15.33	20725376	Upward Expansion	68	60
2024-12-27	22.43	20.50	8.32	19229427	Upward Expansion	66	50
2024-12-20	21.71	20.37	6.19	22737440	Upward Expansion	54	29
2024-12-13	21.33	20.23	3.92	26553148	Upward Expansion	38	20
2024-12-06	21.57	20.12	5.05	31022131	Upward Expansion	41	19
2024-11-29	20.78	19.98	3.88	27931181	Upward Expansion	34	17
2024-11-22	20.66	19.86	5.49	39134677	Upward Expansion	38	22
2024-11-15	20.82	19.75	4.63	31642416	Upward Expansion	54	38
2024-11-08	21.43	19.63	4.13	40102170	Upward Expansion	60	63
2024-11-01	21.42	19.45	10.05	40682691	Upward Expansion	62	71
2024-10-25	22.10	19.27	12.95	40242321	Upward Expansion	72	73
2024-10-18	21.78	19.05	13.10	50047783	Deceleration	70	51
2024-10-11	21.23	18.81	12.20	79912205	Deceleration	54	34
2024-10-04	20.95	18.62	7.27	21097449	Deceleration	43	21
2024-09-27	19.79	18.42	9.87	42834207	Deceleration	7	20
2024-09-20	18.09	18.26	13.74	17070262	Deceleration	-13	31
2024-09-13	18.14	18.17	15.96	21873449	Deceleration	-10	21
2024-09-06	19.49	18.08	22.39	23652886	Deceleration	31	23
2024-08-30	18.98	17.90	16.48	32713415	Deceleration	35	24
2024-08-23	20.48	17.76	25.54	18904313	Upward Expansion	48	42
2024-08-16	20.33	17.56	24.30	22383141	Upward Expansion	61	53
2024-08-09	20.47	17.41	26.61	29323662	Upward Expansion	64	60
2024-08-02	20.77	17.28	27.31	33591383	Upward Expansion	67	66
2024-07-26	21.08	17.13	30.69	36240257	Upward Expansion	74	82
2024-07-19	20.97	16.96	26.80	28112666	Upward Expansion	79	89
2024-07-12	21.14	16.80	29.04	65158622	Upward Expansion	88	90
2024-07-05	20.43	16.61	26.32	22109610	Upward Expansion	88	87
2024-06-28	19.60	16.47	21.13	26355997	Upward Expansion	79	85
2024-06-21	19.04	16.35	17.04	24527236	Upward Expansion	73	82
2024-06-14	18.80	16.26	14.58	27754789	Upward Expansion	72	74
2024-06-07	19.13	16.19	16.16	27971482	Upward Expansion	86	90
2024-05-31	18.51	16.11	11.38	32527061	Upward Expansion	83	86
2024-05-24	17.56	16.06	5.82	24184876	Upward Expansion	66	79
2024-05-17	17.97	16.01	6.03	61553639	Rotation Up	81	88
2024-05-10	17.40	15.96	2.74	29312951	Rotation Up	45	71
2024-05-03	17.26	15.92	3.51	15529630	Rotation Up	44	68
2024-04-26	17.25	15.90	4.06	27022054	Rotation Up	37	60
2024-04-19	17.29	15.87	5.21	52867505	Balance	38	40
2024-04-12	16.16	15.84	-0.04	39519471	Balance	-2	10
2024-04-05	15.96	15.85	-2.76	21676228	Downward Expansion	-20	12
2024-03-29	15.45	15.91	-4.92	33898874	Downward Expansion	-38	21
2024-03-22	14.66	15.99	-10.05	34103770	Downward Expansion	-51	31
2024-03-15	15.42	16.08	-5.71	26977878	Downward Expansion	-40	24
2024-03-08	15.05	16.15	-7.81	25457143	Downward Expansion	-53	30
2024-03-01	14.92	16.24	-8.18	34772659	Downward Expansion	-60	42
2024-02-23	15.27	16.31	-5.45	27638182	Downward Expansion	-60	48
2024-02-09	15.48	16.39	0.37	37836811	Downward Expansion	-63	71
2024-02-02	14.05	16.46	-4.33	23471711	Downward Expansion	-86	89
2024-01-26	14.78	16.57	-5.62	23716972	Downward Expansion	-78	77
2024-01-19	14.74	16.65	-3.32	29523639	Downward Expansion	-82	54
2024-01-12	15.83	16.73	1.95	19066073	Downward Expansion	-51	27
2024-01-05	16.31	16.80	3.32	15241175	Downward Expansion	-40	23
2023-12-29	16.25	16.85	1.48	16777726	Downward Expansion	-55	38
2023-12-22	16.22	16.90	3.44	20415441	Downward Expansion	-60	59
2023-12-15	15.92	16.96	0.62	11536527	Downward Expansion	-64	71
2023-12-08	15.69	17.04	-1.86	13462198	Downward Expansion	-76	74
2023-12-01	16.04	17.13	-1.84	13851350	Downward Expansion	-63	46
2023-11-24	16.18	17.22	-1.43	12793916	Downward Expansion	-59	32
2023-11-17	16.29	17.27	-1.39	11852516	Downward Expansion	-45	22
2023-11-10	16.69	17.31	1.41	12786352	Downward Expansion	-38	21
2023-11-03	16.85	17.33	2.53	15856988	Downward Expansion	-41	25
2023-10-27	16.75	17.32	2.17	15692114	Downward Expansion	-56	37
2023-10-20	16.22	17.32	-0.00	11578742	Downward Expansion	-65	53
2023-10-13	16.55	17.33	-1.57	21683494	Downward Expansion	-61	63
2023-09-29	16.20	17.35	-4.51	10135645	Downward Expansion	-69	76

Price vs TrendAbove+0.6%

Trend directionRising+0.6%

Price vs current Fair ValuePremium+27.9%

Fair Value directionClosing upward+6.0%

Relative Strength vs benchmarkLeading+5.9%

Relative strength directionImproving+12.1%

Price momentumPositive+1.8%

Volume balanceSupply-led0.61×

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

-20 / ±100

-26.9 points since 2026-09-11

Energy

14 /100

+5.9 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.

600323 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance52

Rotation Up20

Upward Expansion13

Deceleration52

Rotation Down43

Downward Expansion63

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 15%Rotation Up 3%Upward Expansion 51%Deceleration 12%Rotation Down 1%Downward Expansion 18%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Balance	2026-07-31	2026-10-09	Developing	-3.7%
Downward Expansion	2026-07-17	2026-07-24	New	+2.8%
Rotation Down	2026-07-03	2026-07-10	New	-1.4%
Balance	2026-06-12	2026-06-26	New	-9.6%
Upward Expansion	2026-03-27	2026-06-05	Developing	-3.8%
Deceleration	2026-01-09	2026-03-20	Developing	+8.0%
Upward Expansion	2025-04-11	2026-01-02	Extended	+27.9%
Balance	2025-02-14	2025-04-04	Developing	+14.4%
Upward Expansion	2024-10-25	2025-02-07	Established	-3.4%
Deceleration	2024-08-30	2024-10-18	Developing	+14.7%
Upward Expansion	2024-05-24	2024-08-23	Established	+16.6%
Rotation Up	2024-04-26	2024-05-17	New	+4.1%
Balance	2024-04-12	2024-04-19	New	+7.0%
Downward Expansion	2023-09-15	2024-04-05	Extended	-3.0%

Classic Stage Analysis comparison

Stage 1 · Basing59

Stage 2 · Advancing61

Stage 3 · Distribution68

Stage 4 · Declining39

Legacy result: Stage 3 · Stage 3B · Distribution. 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

Leading benchmark

Architecture confirmation: 37/100
Current Relative Strength: 5.90
Relative Strength direction: Improving
Price momentum: +1.8%
Excess performance vs benchmark: +6.1%
Utilities regime cohort: 19th percentile21 in cohort

Test 600323 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.84×

Latest completed volume relative to typical participation.

Up/down volume0.61×

Participation balance between advancing and declining observations.

Accumulation / distribution1 / 3

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+25.0%

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 600323 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 29.36falling

Slow Activity CNY 29.44falling

Trend Reference CNY 29.63+0.6% close margin

Current Fair Value CNY 23.31+27.9% close margin

Structural low CNY 26.38shock / 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 +3.6%

Annualized volatility +23.7%

From structural high -9.6%

From structural low +13.0%

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	14	-1.7%-8.5% to +11.1%	+42.9%	+42.9%	-2.2%	+21.4%	Usable descriptive sample
Intermediate	9	-0.4%-19.8% to +30.9%	+44.4%	+44.4%	+0.8%	+11.1%	Usable descriptive sample
Extended	6	-5.9%-24.3% to +31.4%	+33.3%	+33.3%	-2.0%	+16.7%	Usable descriptive sample
Full cycle	3	-9.1%-11.5% to +38.4%	+33.3%	+33.3%	-2.5%	+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.

600323 Stage Analysis

What the Activity Line geometry says now

Directional pressure has compressed into balance.

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

Leading 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

Directional pressure has compressed into balance.

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 ?

Leading 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