Weekly structural research · SHH · Utilities

600969 Stage Analysis

Hunan Chendian International Developmentco.,ltd

Week ending 9 Oct 2026Close CNY 9.30Tenure DevelopingBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Rotation Up · Value reclamation

The Activity Line structure is rotating upward.

Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair.

The Trend gate is mixed within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: moderate and contracting.

Direction 4−100 bearish to +100 bullish

Energy 11/100directional strength

Maturity 28/100lifecycle context

Confidence 75/100evidence agreement

Trend gate Mixedstructural direction

Activity structure Moderatecontracting separation

Price acceptance +33.3%position within the Activity structure

Fair Value context +25.5%CNY 7.41 · 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	9.30	9.39	2.57	14896422	Rotation Up	4	11
2026-10-02	9.52	9.44	4.73	17581040	Rotation Up	20	27
2026-09-25	9.79	9.47	6.96	37916160	Rotation Up	24	52
2026-09-18	9.86	9.49	7.65	71791193	Rotation Up	24	46
2026-09-11	10.17	9.47	12.29	153447793	Rotation Up	32	42
2026-09-04	10.18	9.53	11.86	34816040	Downward Expansion	35	39
2026-08-28	10.09	9.59	10.92	43737155	Downward Expansion	-2	18
2026-08-21	8.68	9.65	-2.96	7476800	Downward Expansion	-38	23
2026-08-14	8.75	9.74	-2.53	12668280	Downward Expansion	-44	33
2026-08-07	8.29	9.79	-7.84	6893680	Downward Expansion	-58	44
2026-07-31	8.16	9.86	-6.75	6373000	Downward Expansion	-62	50
2026-07-24	7.71	9.91	-11.47	11475534	Downward Expansion	-67	73
2026-07-17	8.09	9.98	-5.99	23271003	Downward Expansion	-66	78
2026-07-10	7.43	10.03	-18.73	6664357	Downward Expansion	-78	84
2026-07-03	8.04	10.09	-13.35	11318640	Downward Expansion	-70	79
2026-06-26	7.63	10.11	-17.49	8130020	Balance	-79	72
2026-06-19	8.56	10.14	-8.97	39193540	Balance	-38	33
2026-06-12	9.34	10.16	0.75	14361399	Balance	2	2
2026-06-05	10.29	10.12	11.29	13014220	Deceleration	43	29
2026-05-29	11.68	10.04	25.38	140577746	Deceleration	66	40
2026-05-22	10.19	9.89	8.81	61803424	Deceleration	32	21
2026-05-15	10.28	9.80	9.53	77795568	Deceleration	30	19
2026-05-08	11.07	9.70	16.89	82636469	Deceleration	42	21
2026-05-01	9.80	9.56	5.47	40349220	Deceleration	8	17
2026-04-24	9.97	9.48	7.92	45776308	Deceleration	6	18
2026-04-17	9.71	9.38	5.98	48787880	Deceleration	6	17
2026-04-10	9.28	9.30	3.25	29963287	Deceleration	-2	15
2026-04-03	9.04	9.23	3.60	56779187	Deceleration	-2	8
2026-03-27	10.73	9.17	22.28	73556083	Deceleration	36	21
2026-03-20	10.10	9.07	14.56	44946087	Deceleration	32	21
2026-03-13	10.72	8.97	18.11	64398752	Deceleration	34	28
2026-03-06	10.54	8.87	16.04	66986451	Deceleration	40	25
2026-02-27	10.29	8.77	12.84	67468558	Upward Expansion	47	38
2026-02-13	9.37	8.68	5.34	149149666	Upward Expansion	62	56
2026-02-06	12.01	8.62	36.10	49380909	Upward Expansion	77	84
2026-01-30	11.81	8.48	33.44	45050062	Upward Expansion	80	85
2026-01-23	12.06	8.35	36.94	74923023	Upward Expansion	93	80
2026-01-16	11.15	8.18	28.94	62708394	Upward Expansion	89	74
2026-01-09	10.50	8.04	21.86	58591148	Upward Expansion	83	75
2026-01-02	10.23	7.93	24.05	49959892	Upward Expansion	84	79
2025-12-26	9.72	7.83	18.80	51593641	Upward Expansion	77	85
2025-12-19	9.79	7.75	22.40	57451075	Upward Expansion	87	91
2025-12-12	9.56	7.67	20.06	66835646	Upward Expansion	88	91
2025-12-05	9.18	7.59	15.20	50310058	Upward Expansion	87	94
2025-11-28	8.71	7.54	9.92	48474537	Upward Expansion	76	91
2025-11-21	8.53	7.50	9.26	85904183	Upward Expansion	74	89
2025-11-14	9.04	7.50	11.33	85842929	Upward Expansion	95	95
2025-11-07	8.20	7.46	1.09	61777893	Balance	56	66
2025-10-31	7.80	7.40	-2.71	51549642	Balance	23	25
2025-10-24	7.43	7.37	-7.27	32881202	Rotation Down	-26	14
2025-10-17	7.23	7.34	-7.27	23772604	Rotation Down	-24	25
2025-10-10	7.32	7.33	-7.54	9622622	Rotation Down	-26	32
2025-10-03	7.13	7.30	-9.61	6379143	Balance	-30	39
2025-09-26	7.11	7.28	-8.63	19564240	Balance	-29	33
2025-09-19	7.14	7.26	-8.08	26769534	Balance	-19	20
2025-09-12	7.32	7.23	-7.03	24072326	Balance	12	13
2025-09-05	7.23	7.19	-6.77	30485956	Balance	16	15
2025-08-29	7.21	7.15	-8.07	45213725	Balance	18	12
2025-08-22	7.54	7.11	-3.03	42236276	Upward Expansion	35	18
2025-08-15	7.35	7.06	-2.02	35321540	Upward Expansion	36	21
2025-08-08	7.55	7.01	2.44	30824463	Upward Expansion	52	42
2025-08-01	7.56	6.96	4.87	41804020	Upward Expansion	54	56
2025-07-25	7.63	6.90	5.12	38282620	Upward Expansion	53	56
2025-07-18	7.68	6.88	7.90	79119762	Deceleration	53	43
2025-07-11	7.83	6.85	11.24	130884455	Deceleration	56	28
2025-07-04	7.69	6.84	10.82	76343512	Deceleration	42	18
2025-06-27	7.07	6.83	3.70	29344541	Deceleration	25	15
2025-06-20	6.83	6.83	2.32	39409062	Deceleration	22	15
2025-06-13	7.19	6.84	7.38	65473516	Deceleration	32	17
2025-06-06	7.35	6.82	9.66	28973583	Deceleration	35	19
2025-05-30	7.21	6.79	9.08	52461801	Deceleration	38	23
2025-05-23	7.36	6.78	11.32	140186824	Upward Expansion	53	34
2025-05-16	7.39	6.75	11.40	87682282	Upward Expansion	59	58
2025-05-09	7.62	6.71	16.19	118849883	Upward Expansion	62	74
2025-05-02	7.52	6.66	17.37	146147391	Upward Expansion	62	71
2025-04-25	8.57	6.62	33.87	263299361	Upward Expansion	91	86
2025-04-18	7.66	6.53	21.43	175778819	Upward Expansion	75	65
2025-04-11	6.45	6.45	4.23	73047707	Upward Expansion	26	30
2025-04-04	6.86	6.40	7.58	46336122	Upward Expansion	60	58
2025-03-28	6.62	6.35	3.79	57552860	Deceleration	44	35
2025-03-21	6.77	6.30	5.91	37664424	Deceleration	54	38
2025-03-14	6.62	6.25	2.15	33619312	Deceleration	36	27
2025-03-07	6.42	6.21	0.61	41373937	Deceleration	32	22
2025-02-28	6.43	6.18	2.55	41980471	Deceleration	8	12
2025-02-21	6.33	6.14	-0.52	32825008	Deceleration	-3	9
2025-02-14	6.20	6.11	-1.45	30317092	Rotation Down	-17	21
2025-02-07	6.10	6.07	-1.54	17706748	Rotation Down	-21	38
2025-01-31	5.95	6.06	-2.49	6438969	Deceleration	-23	41
2025-01-24	5.92	6.04	-3.39	37940239	Deceleration	-25	37
2025-01-17	5.95	6.02	-2.93	41760195	Deceleration	-4	26
2025-01-10	5.87	6.01	-2.48	33064106	Deceleration	5	20
2025-01-03	6.00	6.01	-2.08	41811500	Upward Expansion	25	18
2024-12-27	6.88	6.00	5.71	46441080	Upward Expansion	60	47
2024-12-20	6.96	5.99	7.77	48178931	Upward Expansion	63	53
2024-12-13	7.36	5.96	12.90	39280613	Upward Expansion	73	66
2024-12-06	7.31	5.91	11.72	46515669	Upward Expansion	76	63
2024-11-29	7.09	5.86	10.85	74301571	Upward Expansion	74	68
2024-11-22	7.11	5.80	13.13	128980379	Upward Expansion	81	76
2024-11-15	6.57	5.74	2.57	44278051	Upward Expansion	66	78
2024-11-08	6.74	5.68	1.32	46276462	Upward Expansion	77	85
2024-11-01	6.62	5.64	4.78	59138084	Upward Expansion	75	81
2024-10-25	6.59	5.60	3.29	44148068	Upward Expansion	79	83
2024-10-18	6.33	5.57	0.29	69721488	Rotation Up	64	69
2024-10-11	6.05	5.54	-2.98	90387381	Rotation Up	35	43
2024-10-04	6.31	5.51	-2.66	33758892	Downward Expansion	36	34
2024-09-27	5.85	5.48	-2.71	65279045	Downward Expansion	-14	8
2024-09-20	5.23	5.45	-2.12	17013230	Downward Expansion	-55	53
2024-09-13	5.10	5.45	-3.61	19686800	Downward Expansion	-58	57
2024-09-06	5.08	5.43	-6.35	24685800	Balance	-32	39
2024-08-30	5.22	5.44	-6.65	38819216	Balance	-24	16
2024-08-23	5.17	5.48	-8.25	41779794	Balance	-14	9
2024-08-16	5.45	5.51	-4.45	105390019	Balance	4	5
2024-08-09	5.58	5.55	-1.90	97900203	Balance	-17	14
2024-08-02	5.38	5.59	-7.06	30324480	Balance	-40	27
2024-07-26	5.23	5.62	-9.54	31650470	Balance	-45	35
2024-07-19	5.18	5.66	-13.58	38297994	Balance	-47	29
2024-07-12	5.57	5.72	-7.27	62563988	Balance	-27	20
2024-07-05	5.38	5.75	-10.18	49778542	Balance	-29	20
2024-06-28	5.48	5.79	-9.39	74947470	Balance	-14	11
2024-06-21	5.48	5.82	-10.57	81742903	Rotation Up	5	11
2024-06-14	5.99	5.86	-3.73	118913540	Rotation Up	18	29
2024-06-07	5.78	5.88	-7.95	261722164	Rotation Up	19	33
2024-05-31	6.65	5.91	4.25	296172270	Balance	39	40
2024-05-24	6.05	5.90	-5.31	22309034	Balance	8	20
2024-05-17	5.69	5.91	-13.07	48053371	Balance	-16	12
2024-05-10	5.80	5.93	-11.68	31608848	Downward Expansion	-29	22
2024-05-03	5.32	5.96	-17.89	6406361	Downward Expansion	-51	34
2024-04-26	5.20	6.01	-19.58	13501550	Downward Expansion	-53	33
2024-04-19	4.91	6.06	-23.83	32723402	Downward Expansion	-55	32
2024-04-12	5.54	6.11	-13.19	35533205	Downward Expansion	-36	21
2024-04-05	5.55	6.15	-14.73	13817536	Downward Expansion	-39	25
2024-03-29	5.45	6.19	-15.83	42593233	Downward Expansion	-44	33
2024-03-22	5.42	6.23	-16.86	18821774	Downward Expansion	-59	45
2024-03-15	5.40	6.28	-17.75	21934671	Downward Expansion	-63	53
2024-03-08	5.16	6.35	-21.60	22719957	Downward Expansion	-67	80
2024-03-01	5.07	6.42	-22.94	27616608	Downward Expansion	-71	86
2024-02-23	5.15	6.48	-21.65	23184705	Downward Expansion	-73	86
2024-02-09	4.63	6.56	-26.59	41709434	Downward Expansion	-91	91
2024-02-02	5.29	6.66	-12.53	29006462	Downward Expansion	-87	78
2024-01-26	6.35	6.73	-1.83	27844564	Downward Expansion	-54	32
2024-01-19	6.17	6.76	-2.08	20278376	Downward Expansion	-67	36
2024-01-12	6.63	6.78	3.23	15166029	Downward Expansion	-22	14
2024-01-05	6.69	6.81	2.41	16898833	Downward Expansion	-19	11
2023-12-29	6.50	6.83	-2.09	13231598	Downward Expansion	-50	29
2023-12-22	6.42	6.86	-1.50	21111141	Downward Expansion	-58	30
2023-12-15	6.76	6.90	2.55	23274063	Downward Expansion	-27	15
2023-12-08	6.46	6.92	-3.11	14799813	Downward Expansion	-49	31
2023-12-01	6.63	6.95	-2.93	13548379	Downward Expansion	-36	22
2023-11-24	6.61	6.96	-3.82	13122576	Downward Expansion	-39	26
2023-11-17	6.57	6.97	-5.15	11318780	Downward Expansion	-44	32
2023-11-10	6.59	6.99	-4.75	12767571	Downward Expansion	-59	46
2023-11-03	6.54	7.01	-5.58	12804728	Downward Expansion	-63	57
2023-10-27	6.51	7.03	-6.05	15700543	Downward Expansion	-63	67
2023-10-20	6.23	7.06	-9.39	11849262	Downward Expansion	-83	77
2023-10-13	6.43	7.10	-9.93	13495327	Downward Expansion	-78	64
2023-09-29	6.64	7.13	-7.98	9817848	Downward Expansion	-66	59

Price vs TrendBelow-1.0%

Trend directionFalling-4.8%

Price vs current Fair ValuePremium+25.5%

Fair Value directionClosing upward+22.8%

Relative Strength vs benchmarkLeading+2.6%

Relative strength directionImproving+21.3%

Price momentumPositive+0.2%

Volume balanceSupply-led0.41×

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

4 / ±100

-28.0 points since 2026-09-11

Energy

11 /100

-30.9 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.

600969 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance58

Rotation Up35

Upward Expansion28

Deceleration40

Rotation Down24

Downward Expansion26

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 16%Rotation Up 6%Upward Expansion 25%Deceleration 21%Rotation Down 3%Downward Expansion 29%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Rotation Up	2026-09-11	2026-10-09	Developing	-8.6%
Downward Expansion	2026-07-03	2026-09-04	Developing	+26.6%
Balance	2026-06-12	2026-06-26	New	-18.3%
Deceleration	2026-03-06	2026-06-05	Established	-2.3%
Upward Expansion	2025-11-14	2026-02-27	Established	+13.8%
Balance	2025-10-31	2025-11-07	New	+5.1%
Rotation Down	2025-10-10	2025-10-24	New	+1.5%
Balance	2025-08-29	2025-10-03	Developing	-1.1%
Upward Expansion	2025-07-25	2025-08-22	Developing	-1.2%
Deceleration	2025-05-30	2025-07-18	Developing	+6.5%
Upward Expansion	2025-04-04	2025-05-23	Developing	+7.3%
Deceleration	2025-02-21	2025-03-28	Developing	+4.6%
Rotation Down	2025-02-07	2025-02-14	New	+1.6%
Deceleration	2025-01-10	2025-01-31	New	+1.4%

Classic Stage Analysis comparison

Stage 1 · Basing55

Stage 2 · Advancing30

Stage 3 · Distribution41

Stage 4 · Declining70

Legacy result: Stage 4 · Stage 4A · Breakdown. 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: 53/100
Current Relative Strength: 2.57
Relative Strength direction: Improving
Price momentum: +0.2%
Excess performance vs benchmark: +4.6%
Utilities regime cohort: 17th percentile6 in cohort

Test 600969 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.44×

Latest completed volume relative to typical participation.

Up/down volume0.41×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 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 600969 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 9.59falling

Slow Activity CNY 9.24rising

Trend Reference CNY 9.39-1.0% close margin

Current Fair Value CNY 7.41+25.5% close margin

Structural low CNY 7.18shock / repair context

What changes the read?

Full positive ordering with expanding width confirms Upward Expansion. Loss of the fast/slow repair and renewed downside acceptance cancels it.

Range context +8.0%

Annualized volatility +52.6%

From structural high -26.1%

From structural low +30.4%

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	3	-6.9%-8.6% to +11.4%	+33.3%	+33.3%	-3.6%	+33.3%	Too little matched history
Intermediate	2	-7.5%-12.1% to -3.0%	+0.0%	+0.0%	-2.1%	+0.0%	Too little matched history
Extended	1	+26.5%+26.5% to +26.5%	+100.0%	+100.0%	+14.9%	+0.0%	Too little matched history
Full cycle	1	+27.2%+27.2% to +27.2%	+100.0%	+100.0%	+16.2%	+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.

600969 Stage Analysis

What the Activity Line geometry says now

The Activity Line structure is rotating upward.

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

The Activity Line structure is rotating upward.

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