Weekly structural research · SHH · Financial Services

601162 Stage Analysis

Tianfeng Securities Co., Ltd.

Week ending 2 Oct 2026Close CNY 3.56Tenure 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 mixed within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: compressed and contracting.

Direction -10−100 bearish to +100 bullish

Energy 14/100directional strength

Maturity 34/100lifecycle context

Confidence 58/100evidence agreement

Trend gate Mixedstructural direction

Activity structure Compressedcontracting separation

Price acceptance -16.7%position within the Activity structure

Fair Value context -7.8%CNY 3.86 · 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	3.56	3.62	-8.32	299921293	Balance	-10	14
2026-09-25	3.60	3.63	-9.12	539267356	Balance	1	5
2026-09-18	3.63	3.65	-9.76	491604639	Balance	10	11
2026-09-11	3.61	3.67	-10.55	819909717	Balance	20	16
2026-09-04	3.83	3.68	-7.01	1048077589	Balance	26	29
2026-08-28	3.82	3.69	-8.67	167465260	Balance	25	20
2026-08-21	3.61	3.71	-13.48	83880749	Balance	-7	10
2026-08-14	3.73	3.73	-12.01	153235744	Balance	1	10
2026-08-07	3.63	3.75	-15.26	124675361	Balance	-5	15
2026-07-31	3.71	3.77	-11.70	147972717	Balance	-1	18
2026-07-24	3.57	3.78	-15.25	152702521	Downward Expansion	-16	25
2026-07-17	3.78	3.80	-9.74	462171863	Downward Expansion	-8	22
2026-07-10	3.72	3.82	-16.96	301286173	Downward Expansion	-26	20
2026-07-03	3.68	3.84	-19.44	307215814	Downward Expansion	-45	37
2026-06-26	3.41	3.88	-25.77	314313825	Downward Expansion	-65	59
2026-06-19	3.17	3.92	-32.43	730844451	Downward Expansion	-74	87
2026-06-12	3.16	3.99	-32.15	178775569	Downward Expansion	-81	90
2026-06-05	3.20	4.05	-31.68	81286512	Downward Expansion	-86	87
2026-05-29	3.35	4.12	-29.62	493228994	Downward Expansion	-81	64
2026-05-22	3.47	4.19	-28.29	557441467	Downward Expansion	-76	58
2026-05-15	3.60	4.24	-26.43	789316310	Downward Expansion	-68	54
2026-05-08	3.77	4.30	-24.17	642337446	Downward Expansion	-61	52
2026-05-01	3.58	4.35	-27.15	568445665	Downward Expansion	-76	65
2026-04-24	3.68	4.40	-24.92	476144692	Downward Expansion	-71	67
2026-04-17	3.80	4.46	-22.35	533684183	Downward Expansion	-66	65
2026-04-10	3.75	4.52	-22.44	601110693	Downward Expansion	-67	70
2026-04-03	3.60	4.58	-23.88	368054109	Downward Expansion	-88	93
2026-03-27	3.74	4.65	-22.02	543691031	Downward Expansion	-86	89
2026-03-20	3.88	4.72	-20.42	581374077	Downward Expansion	-79	80
2026-03-13	3.96	4.77	-21.95	495427571	Downward Expansion	-76	75
2026-03-06	3.99	4.80	-22.35	613594300	Downward Expansion	-73	61
2026-02-27	4.10	4.84	-21.43	626214854	Downward Expansion	-67	60
2026-02-13	4.08	4.87	-20.80	464579599	Downward Expansion	-70	61
2026-02-06	4.14	4.89	-19.86	651713376	Downward Expansion	-68	61
2026-01-30	4.13	4.92	-21.42	1058939856	Downward Expansion	-72	63
2026-01-23	4.26	4.94	-19.62	683329455	Downward Expansion	-65	62
2026-01-16	4.23	4.97	-19.86	1735412813	Downward Expansion	-67	64
2026-01-09	4.29	4.96	-19.42	1320397731	Downward Expansion	-67	84
2026-01-02	4.16	4.95	-19.17	353769840	Rotation Down	-75	90
2025-12-26	4.25	4.95	-17.58	703196957	Rotation Down	-45	80
2025-12-19	4.21	4.94	-17.21	858160250	Rotation Down	-55	83
2025-12-12	4.23	4.93	-17.24	912947424	Rotation Down	-60	80
2025-12-05	4.32	4.92	-16.24	1809391622	Deceleration	-51	70
2025-11-28	4.83	4.91	-6.56	491020161	Deceleration	-11	39
2025-11-21	4.80	4.88	-6.11	704980297	Deceleration	-11	19
2025-11-14	5.07	4.85	-5.01	657234689	Deceleration	10	10
2025-11-07	5.15	4.82	-4.09	723433373	Deceleration	18	14
2025-10-31	5.24	4.77	-1.92	1364337210	Deceleration	21	13
2025-10-24	5.25	4.74	-2.25	2115636932	Deceleration	31	18
2025-10-17	5.09	4.70	-3.02	916412885	Deceleration	32	22
2025-10-10	5.31	4.68	-0.51	516768977	Deceleration	37	23
2025-10-03	5.31	4.66	-0.10	853108948	Deceleration	41	29
2025-09-26	5.18	4.63	-1.09	1289517197	Upward Expansion	45	36
2025-09-19	5.43	4.61	4.00	2282716353	Upward Expansion	60	49
2025-09-12	5.54	4.59	5.34	1748843017	Upward Expansion	62	63
2025-09-05	5.51	4.56	6.87	2497484521	Upward Expansion	65	74
2025-08-29	5.84	4.52	12.73	4942326487	Upward Expansion	80	84
2025-08-22	5.71	4.47	12.22	5409763863	Upward Expansion	82	72
2025-08-15	5.54	4.42	13.79	3854446598	Upward Expansion	84	62
2025-08-08	4.91	4.38	3.47	2018408452	Upward Expansion	62	50
2025-08-01	4.98	4.35	7.93	4983705693	Upward Expansion	67	70
2025-07-25	4.98	4.32	7.80	3206958942	Upward Expansion	66	79
2025-07-18	4.82	4.31	7.03	2159374487	Rotation Up	63	79
2025-07-11	5.06	4.31	14.22	5086166650	Rotation Up	43	67
2025-07-04	4.80	4.31	10.72	5370080141	Rotation Up	34	39
2025-06-27	5.06	4.32	19.54	5683667559	Rotation Up	36	31
2025-06-20	3.93	4.31	-4.27	809952787	Downward Expansion	-47	29
2025-06-13	4.10	4.34	0.01	1580539753	Downward Expansion	-43	31
2025-06-06	3.98	4.38	-2.46	537006724	Downward Expansion	-57	41
2025-05-30	3.90	4.44	-2.72	462282211	Downward Expansion	-63	45
2025-05-23	3.90	4.50	-2.35	580646456	Downward Expansion	-65	47
2025-05-16	4.02	4.56	0.49	1310900549	Downward Expansion	-60	49
2025-05-09	3.98	4.59	0.68	987316261	Downward Expansion	-61	53
2025-05-02	3.91	4.60	1.25	402589434	Downward Expansion	-69	70
2025-04-25	3.97	4.61	2.72	1031261772	Downward Expansion	-67	71
2025-04-18	4.06	4.61	6.05	1160947788	Downward Expansion	-63	68
2025-04-11	3.88	4.57	3.07	1266041255	Downward Expansion	-75	71
2025-04-04	4.19	4.54	8.30	467497316	Balance	-34	43
2025-03-28	4.26	4.49	10.35	645090397	Balance	-26	24
2025-03-21	4.37	4.43	13.35	960510577	Balance	-1	4
2025-03-14	4.56	4.36	17.00	1384050030	Balance	23	15
2025-03-07	4.49	4.29	17.48	1768257101	Deceleration	33	25
2025-02-28	4.53	4.22	21.06	2204091267	Deceleration	32	26
2025-02-21	4.81	4.16	27.04	2980631733	Deceleration	39	25
2025-02-14	4.84	4.07	29.98	4005090181	Deceleration	32	17
2025-02-07	4.36	3.98	19.41	1036514039	Deceleration	0	25
2025-01-31	4.09	3.91	14.36	289322796	Deceleration	-7	38
2025-01-24	4.27	3.85	19.73	1593050972	Deceleration	0	23
2025-01-17	4.24	3.78	19.83	1551548231	Deceleration	3	20
2025-01-10	4.07	3.71	18.27	1873177468	Deceleration	1	16
2025-01-03	4.06	3.65	16.94	1164841549	Deceleration	22	17
2024-12-27	4.73	3.60	29.20	1319844294	Deceleration	39	28
2024-12-20	4.90	3.53	35.98	1233730146	Deceleration	40	29
2024-12-13	4.99	3.46	38.44	2192800992	Deceleration	42	31
2024-12-06	5.13	3.40	42.88	3375141754	Upward Expansion	46	37
2024-11-29	4.81	3.32	38.21	2388165765	Upward Expansion	51	47
2024-11-22	4.84	3.26	42.58	3118102440	Upward Expansion	65	62
2024-11-15	5.21	3.20	51.64	3602054563	Upward Expansion	68	67
2024-11-08	5.83	3.12	65.14	6883865165	Upward Expansion	79	88
2024-11-01	5.82	3.02	76.04	9171130574	Upward Expansion	87	88
2024-10-25	5.62	2.92	70.87	11685189700	Upward Expansion	93	97
2024-10-18	4.77	2.83	48.48	9001660766	Upward Expansion	88	95
2024-10-11	4.30	2.77	36.81	6191165570	Upward Expansion	85	94
2024-10-04	4.39	2.73	35.42	91233390	Rotation Up	96	98
2024-09-27	3.99	2.69	33.61	2713006223	Rotation Up	56	75
2024-09-20	2.74	2.66	3.93	2693688509	Downward Expansion	23	33
2024-09-13	2.97	2.67	13.81	4243611708	Downward Expansion	21	25
2024-09-06	2.63	2.67	-1.51	1401304896	Downward Expansion	-4	11
2024-08-30	2.40	2.68	-12.89	881689903	Downward Expansion	-30	20
2024-08-23	2.33	2.70	-16.39	1111428430	Downward Expansion	-35	27
2024-08-16	2.59	2.72	-8.51	2027196718	Downward Expansion	-29	27
2024-08-09	2.48	2.74	-12.40	1691019808	Downward Expansion	-43	32
2024-08-02	2.46	2.76	-14.78	1475671606	Downward Expansion	-51	48
2024-07-26	2.30	2.78	-20.10	1064175838	Downward Expansion	-66	65
2024-07-19	2.20	2.80	-26.11	452104716	Downward Expansion	-68	81
2024-07-12	2.19	2.83	-26.46	584166229	Downward Expansion	-72	89
2024-07-05	2.17	2.86	-26.88	452042183	Downward Expansion	-79	92
2024-06-28	2.18	2.90	-27.24	641927479	Downward Expansion	-87	95
2024-06-21	2.28	2.94	-24.96	808082513	Downward Expansion	-87	95
2024-06-14	2.32	2.97	-24.75	1321017513	Downward Expansion	-93	96
2024-06-07	2.37	3.00	-23.84	707074891	Downward Expansion	-95	88
2024-05-31	2.81	3.03	-11.01	328132702	Downward Expansion	-67	55
2024-05-24	2.83	3.05	-10.48	425753619	Downward Expansion	-66	39
2024-05-17	2.92	3.06	-9.64	596737875	Downward Expansion	-42	22
2024-05-10	2.92	3.07	-9.72	553826755	Downward Expansion	-52	29
2024-05-03	2.92	3.08	-8.31	588564593	Downward Expansion	-54	33
2024-04-26	3.00	3.10	-5.20	563327102	Downward Expansion	-54	36
2024-04-19	2.86	3.11	-8.79	540573903	Downward Expansion	-62	59
2024-04-12	2.85	3.13	-7.67	391921282	Downward Expansion	-66	55
2024-04-05	2.94	3.15	-6.20	463514091	Downward Expansion	-56	38
2024-03-29	2.89	3.17	-6.85	586984303	Downward Expansion	-63	36
2024-03-22	3.01	3.20	-3.11	700569387	Downward Expansion	-38	19
2024-03-15	3.04	3.23	-2.22	679635655	Downward Expansion	-34	16
2024-03-08	3.03	3.26	-2.12	631877762	Downward Expansion	-36	18
2024-03-01	3.13	3.28	1.88	1131752204	Downward Expansion	-39	24
2024-02-23	3.06	3.27	0.57	858804654	Downward Expansion	-43	29
2024-02-09	3.04	3.27	4.94	806548256	Downward Expansion	-57	40
2024-02-02	2.89	3.27	4.96	638062836	Downward Expansion	-75	54
2024-01-26	3.09	3.27	5.49	972444834	Downward Expansion	-62	52
2024-01-19	2.98	3.27	4.78	592929164	Downward Expansion	-69	71
2024-01-12	2.97	3.27	2.89	417034485	Downward Expansion	-75	79
2024-01-05	3.00	3.27	2.46	309454527	Rotation Down	-75	76
2023-12-29	3.09	3.27	4.10	493614617	Rotation Down	-39	61
2023-12-22	3.02	3.27	4.06	564830149	Rotation Down	-52	64
2023-12-15	3.17	3.27	8.39	450802437	Balance	-35	48
2023-12-08	3.15	3.27	6.96	435462054	Balance	-30	30
2023-12-01	3.22	3.28	7.29	515814964	Balance	-9	8
2023-11-24	3.25	3.27	8.11	595368658	Deceleration	12	9
2023-11-17	3.35	3.26	11.19	818111581	Deceleration	16	11
2023-11-10	3.34	3.25	11.77	1431305285	Deceleration	4	17
2023-11-03	3.19	3.24	7.38	683079657	Deceleration	-19	22
2023-10-27	3.23	3.23	9.45	1367736689	Deceleration	4	14
2023-10-20	3.25	3.22	11.72	789144446	Deceleration	7	14
2023-10-13	3.20	3.21	6.66	607325701	Deceleration	14	15
2023-09-29	3.32	3.20	10.10	484779584	Deceleration	29	21
2023-09-22	3.41	3.19	12.62	707228274	Deceleration	34	23

Price vs TrendBelow-1.7%

Trend directionFalling-4.3%

Price vs current Fair ValueBelow anchor-7.8%

Fair Value directionMoving away-3.7%

Relative Strength vs benchmarkLagging-8.3%

Relative strength directionImproving+11.1%

Price momentumNegative-1.1%

Volume balanceDemand-led1.37×

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

-10 / ±100

-36.4 points since 2026-09-04

Energy

14 /100

-14.4 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.

601162 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance55

Rotation Up21

Upward Expansion22

Deceleration65

Rotation Down52

Downward Expansion34

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 11%Rotation Up 4%Upward Expansion 12%Deceleration 21%Rotation Down 5%Downward Expansion 48%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Balance	2026-07-31	2026-10-02	Developing	-4.0%
Downward Expansion	2026-01-09	2026-07-24	Extended	-16.8%
Rotation Down	2025-12-12	2026-01-02	New	-1.7%
Deceleration	2025-10-03	2025-12-05	Developing	-18.6%
Upward Expansion	2025-07-25	2025-09-26	Developing	+4.0%
Rotation Up	2025-06-27	2025-07-18	New	-4.7%
Downward Expansion	2025-04-11	2025-06-20	Developing	+1.3%
Balance	2025-03-14	2025-04-04	New	-8.1%
Deceleration	2024-12-13	2025-03-07	Established	-10.0%
Upward Expansion	2024-10-11	2024-12-06	Developing	+19.3%
Rotation Up	2024-09-27	2024-10-04	New	+10.0%
Downward Expansion	2024-01-12	2024-09-20	Extended	-7.7%
Rotation Down	2023-12-22	2024-01-05	New	-0.7%
Balance	2023-12-01	2023-12-15	New	-1.6%

Classic Stage Analysis comparison

Stage 1 · Basing64

Stage 2 · Advancing17

Stage 3 · Distribution31

Stage 4 · Declining83

Legacy result: Stage 4 · Stage 4C · Repair watch. 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: 33/100
Current Relative Strength: -8.32
Relative Strength direction: Improving
Price momentum: -1.1%
Excess performance vs benchmark: -0.1%
Financial Services regime cohort: 36th percentile28 in cohort

Test 601162 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.80×

Latest completed volume relative to typical participation.

Up/down volume1.37×

Participation balance between advancing and declining observations.

Accumulation / distribution3 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+50.0%

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 601162 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 3.61falling

Slow Activity CNY 3.61falling

Trend Reference CNY 3.62-1.7% close margin

Current Fair Value CNY 3.86-7.8% close margin

Structural low CNY 3.05shock / 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 +5.4%

Annualized volatility +27.8%

From structural high -36.4%

From structural low +16.7%

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	12	-1.8%-14.9% to +24.6%	+33.3%	+33.3%	-2.2%	+66.7%	Usable descriptive sample
Intermediate	5	-1.0%-10.1% to +11.8%	+40.0%	+40.0%	-5.6%	+20.0%	Usable descriptive sample
Extended	3	+0.7%-0.7% to +21.5%	+66.7%	+66.7%	+8.3%	+0.0%	Too little matched history
Full cycle	3	+5.0%-14.9% to +58.4%	+66.7%	+66.7%	+9.3%	+33.3%	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.

601162 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

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

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 ?

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