{
  "ticker": {
    "uuid": "2f83ad3c-1a40-401c-8f03-514e47920ab1",
    "symbol": "RYAM",
    "name": "Rayonier Advanced Materials",
    "exchange": "NYSE",
    "country": "US",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "SPY",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 63.405,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -22.559,
    "architecture_energy": 18.976,
    "architecture_maturity": 46.711,
    "architecture_confidence": 47.177,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 54.1,
        "rotation_up": 37.74,
        "upward_expansion": 22.23,
        "deceleration": 40.69,
        "rotation_down": 23.79,
        "downward_expansion": 56.23
      },
      "activity_lines": [
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        8.568476,
        8.834344
      ],
      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 9.02,
    "trend_reference": 8.966667,
    "distance_from_trend": 0.005948,
    "trend_direction": "Improving",
    "fair_value": 6.195,
    "distance_from_fair_value": 0.456013,
    "fair_value_direction": "Weakening",
    "relative_strength": 2.321474,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.119107,
    "excess_performance": -0.006518,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.005948,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.086869,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.456013,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.111104,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.023215,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.191886,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.119107,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.346457,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 7231260,
      "relative_activity": 1.477432,
      "balance": 1.346457,
      "dry_up": 1.034398,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.10911,
      "annualized_volatility": 0.56028,
      "from_high_reference": -0.238819,
      "from_low_reference": 1.112412
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    "levels": {
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      "fair_value_reference": 6.195,
      "structural_low": 6.85,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 25,
        "median_return": -0.004577,
        "positive_rate": 0.44,
        "directional_follow_through": 0.56,
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        "worst_return": -0.320312,
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      },
      {
        "horizon": "Intermediate",
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        "worst_return": -0.5,
        "sufficient": true
      },
      {
        "horizon": "Extended",
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      {
        "horizon": "Full cycle",
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      },
      {
        "date": "2026-05-01",
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      },
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        "date": "2026-05-08",
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      },
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        "date": "2026-05-15",
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      },
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        "date": "2026-05-22",
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      },
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        "date": "2026-05-29",
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      },
      {
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      },
      {
        "date": "2026-06-12",
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      },
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      },
      {
        "date": "2026-06-26",
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        "gate": "mixed",
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      },
      {
        "date": "2026-07-03",
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        "typical_volume": 5415603.7,
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        "relative_strength": -9.964216,
        "stage": 3,
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        "modifier": "Supply rotation",
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      },
      {
        "date": "2026-07-10",
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        "relative_strength": -12.190174,
        "stage": 3,
        "regime": "rotation_down",
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        "gate": "mixed",
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        "energy": 56.369935,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
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        "volume": 4068469,
        "typical_volume": 5097546.0,
        "trend": 8.723,
        "fair_value": 6.104295,
        "relative_strength": -0.353143,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -32.757212,
        "energy": 52.00561,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-24",
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        "volume": 4825148,
        "typical_volume": 4941759.5,
        "trend": 8.807667,
        "fair_value": 6.128333,
        "relative_strength": 1.275572,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -29.478921,
        "energy": 42.739923,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-31",
        "close": 8.95,
        "volume": 4126481,
        "typical_volume": 4799466.75,
        "trend": 8.910667,
        "fair_value": 6.158205,
        "relative_strength": 5.886248,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -35.137746,
        "energy": 20.809615,
        "activity_lines": [
          8.329333,
          8.242182,
          8.567238,
          8.82729
        ]
      },
      {
        "date": "2026-08-07",
        "close": 9.02,
        "volume": 7231260,
        "typical_volume": 4894477.9,
        "trend": 8.966667,
        "fair_value": 6.195,
        "relative_strength": 2.321474,
        "stage": 2,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -22.558734,
        "energy": 18.976432,
        "activity_lines": [
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}