<p>Xencor (NASDAQ: XNCR) 最近进入了第 18 阶段，这是其 18 阶段 Adhishthana 周期的最后阶段。从 Adhishthana 框架的角度来看，该股票的定位表明，未来的道路可能充满挑战，而非回报。让我们分析一下这个周期是如何展开的，以及这一阶段可能带来什么。</p>
<h2><strong>分析 Xencor 股票的三元组</strong></h2>
<p>在 Adhishthana 框架下，第 14、15 和 16 阶段共同形成了 Guna 三元组。这些阶段在决定股票是否能够在第 18 阶段实现涅槃走势方面起着决定性作用，而第 18 阶段代表了周期的巅峰。</p>
<p>为了实现涅槃走势，这些三元组必须显示出 Satoguna 特征，表现为清晰、持续的看涨结构和改善的价格行为。</p>
<blockquote>
<p>正如在《Adhishthana: The Principles That Govern Wealth, Time &amp; Tragedy》中所述：</p>
<p>&#34;如果在任何三元组中没有明显的 Satoguna，就无法在第 18 阶段出现涅槃。&#34;</p>
</blockquote>
<p><img src="https://imageproxy.pbkrs.com/https://contributor-assets.benzinga.com/wp-content/uploads/2025/12/18111003/Xencor-Inc-Phase-18-Adhishthana.com_.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contributor-assets.benzinga.com/wp-content/uploads/2025/12/18111003/Xencor-Inc-Phase-18-Adhishthana.com_.png"/></p>
<p>图 1 Xencor 三元组（来源：Adhishthana.com）</p>
<p>在 Xencor 的案例中，三元组未能表现出任何有意义的看涨特征。第 14 和 15 阶段被区间波动主导，几乎没有方向性清晰度，而第 16 阶段则出现了卖压的急剧加剧。综合来看，该股票在其三元组形成期间下跌超过 75%，这表明实现涅槃走势所需的结构条件缺失。</p>
<h2><strong>投资者展望</strong></h2>
<p>由于三元组形成较弱，Xencor 的第 18 阶段不太可能带来任何持续的上涨。虽然可能会出现间歇性的反弹，但预计它们将是短暂的，并且大多不会形成趋势，使得股票保持在区间波动和不稳定的行为中。</p>
<p>考虑将该股票视为价值机会的投资者应保持耐心。在当前周期完成并开始重置之前，风险与回报的平衡仍然不利，此阶段的参与将显得过早。</p>
<p><strong><em>Benzinga 免责声明：本文来自未付费的外部贡献者。它不代表 Benzinga 的报道，并且未经过内容或准确性的编辑。</em></strong></p>

XNCR

<p>Xencor（纳斯达克代码：XNCR）在进入其 Adhishthana 周期的第 18 阶段时面临结构性挑战，这表明未来可能会遇到困难。该股票的三重指标未能显示出进行 Nirvana 移动所需的看涨特征，在第 14 至第 16 阶段期间出现了显著下跌。因此，持续反弹的可能性不大，该股票可能会保持波动并在区间内运行。建议投资者保持耐心，因为在周期重置之前，目前的风险回报平衡并不理想</p>

<p>Xencor (NASDAQ: XNCR) has recently transitioned into Phase 18, the final phase of its 18-phase Adhishthana cycle on the weekly charts. When viewed through the lens of the Adhishthana framework, the stock's positioning suggests that the road ahead may be challenging rather than rewarding. Let's break down how the cycle has unfolded and what this phase is likely to deliver.</p>
<div class="lb-trans"><p>Xencor (NASDAQ: XNCR) 最近进入了第 18 阶段，这是其 18 阶段 Adhishthana 周期的最后阶段。从 Adhishthana 框架的角度来看，该股票的定位表明，未来的道路可能充满挑战，而非回报。让我们分析一下这个周期是如何展开的，以及这一阶段可能带来什么。</p>
</div><h2><strong>Analysing Xencor Stock's Triads</strong></h2>
<div class="lb-trans"><h2><strong>分析 Xencor 股票的三元组</strong></h2>
</div><p>Under the Adhishthana framework, Phases 14, 15, and 16 collectively form the Guna Triads. These phases play a decisive role in determining whether a stock can achieve a Nirvana move in Phase 18, which represents the pinnacle of the cycle.</p>
<div class="lb-trans"><p>在 Adhishthana 框架下，第 14、15 和 16 阶段共同形成了 Guna 三元组。这些阶段在决定股票是否能够在第 18 阶段实现涅槃走势方面起着决定性作用，而第 18 阶段代表了周期的巅峰。</p>
</div><p>For a Nirvana move to materialise, the triads must display Satoguna, characterised by a clean, sustained bullish structure and improving price behaviour.</p>
<div class="lb-trans"><p>为了实现涅槃走势，这些三元组必须显示出 Satoguna 特征，表现为清晰、持续的看涨结构和改善的价格行为。</p>
</div><blockquote>
<p>As outlined in <em>Adhishthana: The Principles That Govern Wealth, Time &amp; Tragedy</em>:</p>
<p>&#34;Without noticeable Satoguna in any of the triads, no Nirvana can emerge in Phase 18.&#34;</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>正如在《Adhishthana: The Principles That Govern Wealth, Time &amp; Tragedy》中所述：</p>
<p>&#34;如果在任何三元组中没有明显的 Satoguna，就无法在第 18 阶段出现涅槃。&#34;</p>
</blockquote>
</div><p><img src="https://imageproxy.pbkrs.com/https://contributor-assets.benzinga.com/wp-content/uploads/2025/12/18111003/Xencor-Inc-Phase-18-Adhishthana.com_.png" alt="" original-src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/12/18111003/Xencor-Inc-Phase-18-Adhishthana.com_.png"/></p>
<p>Fig.1 Xencor Triads (Source: Adhishthana.com)</p>
<div class="lb-trans"><p>图 1 Xencor 三元组（来源：Adhishthana.com）</p>
</div><p>In Xencor's case, the triads failed to exhibit any meaningful bullish character. Phases 14 and 15 were dominated by range-bound action, offering little directional clarity, while Phase 16 saw a sharp acceleration in selling pressure. Taken together, the stock declined by more than 75% during its triad formation, making it evident that the structural conditions required for a Nirvana move are absent.</p>
<div class="lb-trans"><p>在 Xencor 的案例中，三元组未能表现出任何有意义的看涨特征。第 14 和 15 阶段被区间波动主导，几乎没有方向性清晰度，而第 16 阶段则出现了卖压的急剧加剧。综合来看，该股票在其三元组形成期间下跌超过 75%，这表明实现涅槃走势所需的结构条件缺失。</p>
</div><h2><strong>Investor Outlook</strong></h2>
<div class="lb-trans"><h2><strong>投资者展望</strong></h2>
</div><p>With a weak triad formation behind it, Xencor's Phase 18 is unlikely to deliver any sustained upside. While intermittent rallies may appear, they are expected to be short-lived and largely non-trend-forming, keeping the stock confined to range-bound and volatile behaviour.</p>
<div class="lb-trans"><p>由于三元组形成较弱，Xencor 的第 18 阶段不太可能带来任何持续的上涨。虽然可能会出现间歇性的反弹，但预计它们将是短暂的，并且大多不会形成趋势，使得股票保持在区间波动和不稳定的行为中。</p>
</div><p>Investors considering the stock as a value opportunity should remain patient. Until the current cycle completes and a reset begins, the risk-reward balance remains unfavorable, and participation at this stage would be premature.</p>
<div class="lb-trans"><p>考虑将该股票视为价值机会的投资者应保持耐心。在当前周期完成并开始重置之前，风险与回报的平衡仍然不利，此阶段的参与将显得过早。</p>
</div><p><strong><em>Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.</em></strong></p>
<div class="lb-trans"><p><strong><em>Benzinga 免责声明：本文来自未付费的外部贡献者。它不代表 Benzinga 的报道，并且未经过内容或准确性的编辑。</em></strong></p>
</div>

随着长期动能的减弱，Xencor 面临结构性逆风