{
  "ticker": {
    "uuid": "e20f193b-7842-46df-b12a-a08277376cff",
    "symbol": "RCI-A",
    "name": "Rogers Communications Inc.",
    "exchange": "TOR",
    "country": "CA",
    "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": "^GSPTSE",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4a",
    "phase_label": "Stage 4A \u00b7 Breakdown",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 72.287,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -51.212,
    "architecture_energy": 31.167,
    "architecture_maturity": 17.603,
    "architecture_confidence": 81.965,
    "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": 44.08,
        "rotation_up": 17.91,
        "upward_expansion": 3.25,
        "deceleration": 55.06,
        "rotation_down": 48.63,
        "downward_expansion": 74.25
      },
      "activity_lines": [
        48.91,
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      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 49.09,
    "trend_reference": 50.861156,
    "distance_from_trend": -0.034823,
    "trend_direction": "Weakening",
    "fair_value": 49.826288,
    "distance_from_fair_value": -0.014777,
    "fair_value_direction": "Weakening",
    "relative_strength": -14.793303,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.011213,
    "excess_performance": -0.131634,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.034823,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.010757,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.014777,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.023052,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.147933,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.061835,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.011213,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.384615,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 5800,
      "relative_activity": 0.763158,
      "balance": 2.384615,
      "dry_up": 1.141447,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.050534,
      "annualized_volatility": 0.285774,
      "from_high_reference": -0.126618,
      "from_low_reference": 0.087005
    },
    "levels": {
      "trend_reference": 50.861156,
      "fair_value_reference": 49.826288,
      "structural_low": 45.160797,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 25,
        "median_return": 0.015385,
        "positive_rate": 0.6,
        "directional_follow_through": 0.4,
        "median_excess_return": -0.005013,
        "regime_survival": 0.76,
        "best_return": 0.166042,
        "worst_return": -0.118644,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": 0.020922,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
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        "regime_survival": 0.5,
        "best_return": 0.330694,
        "worst_return": -0.163286,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.057601,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.022294,
        "regime_survival": 0.333333,
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        "worst_return": -0.053353,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": 0.029871,
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        "directional_follow_through": 0.5,
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        "worst_return": -0.099294,
        "sufficient": false
      }
    ],
    "ledger": [
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        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-08-23",
        "end": "2024-11-15",
        "tenure": "Established",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-11-22",
        "end": "2025-07-04",
        "tenure": "Extended",
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      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-10-03",
        "tenure": "Developing",
        "return": 0.050475,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-10-17",
        "tenure": "New",
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        "active": false
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        "regime": "upward_expansion",
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        "active": false
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      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
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        "return": -0.082359,
        "active": false
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        "regime": "balance",
        "label": "Balance",
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        "tenure": "New",
        "return": -0.010584,
        "active": false
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        "regime": "downward_expansion",
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        "return": 0.035467,
        "active": false
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        ]
      },
      {
        "date": "2026-04-24",
        "close": 49.350971,
        "volume": 18100,
        "typical_volume": 11035.0,
        "trend": 51.700595,
        "fair_value": 50.320786,
        "relative_strength": -10.511467,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.969716,
        "energy": 62.422072,
        "activity_lines": [
          48.456036,
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 49.608528,
        "volume": 4600,
        "typical_volume": 10200.0,
        "trend": 51.718758,
        "fair_value": 50.260142,
        "relative_strength": -9.955678,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -57.650849,
        "energy": 65.835803,
        "activity_lines": [
          48.545798,
          49.960013,
          50.972236,
          51.2582
        ]
      },
      {
        "date": "2026-05-08",
        "close": 50.618919,
        "volume": 5000,
        "typical_volume": 9340.0,
        "trend": 51.696009,
        "fair_value": 50.203512,
        "relative_strength": -8.609828,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -54.282926,
        "energy": 43.835879,
        "activity_lines": [
          49.265122,
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          50.91507,
          51.187242
        ]
      },
      {
        "date": "2026-05-15",
        "close": 49.133041,
        "volume": 7900,
        "typical_volume": 9615.0,
        "trend": 51.580219,
        "fair_value": 50.140451,
        "relative_strength": -10.624596,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -53.416673,
        "energy": 28.464309,
        "activity_lines": [
          49.464559,
          49.526216,
          50.716009,
          51.02189
        ]
      },
      {
        "date": "2026-05-22",
        "close": 50.202877,
        "volume": 5500,
        "typical_volume": 9690.0,
        "trend": 51.451017,
        "fair_value": 50.105725,
        "relative_strength": -10.343476,
        "stage": 3,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -36.628071,
        "energy": 18.273932,
        "activity_lines": [
          49.864756,
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          50.622841,
          50.933029
        ]
      },
      {
        "date": "2026-05-29",
        "close": 53.838326,
        "volume": 10100,
        "typical_volume": 9610.0,
        "trend": 51.414207,
        "fair_value": 50.104327,
        "relative_strength": -4.757684,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "down",
        "direction": -6.536787,
        "energy": 12.234241,
        "activity_lines": [
          51.216575,
          50.219957,
          50.88779,
          51.087049
        ]
      },
      {
        "date": "2026-06-05",
        "close": 54.363338,
        "volume": 400,
        "typical_volume": 9300.0,
        "trend": 51.510056,
        "fair_value": 50.113745,
        "relative_strength": -2.957656,
        "stage": 3,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 16.851042,
        "energy": 22.614099,
        "activity_lines": [
          52.444242,
          51.011511,
          51.189388,
          51.277315
        ]
      },
      {
        "date": "2026-06-12",
        "close": 54.599998,
        "volume": 400,
        "typical_volume": 8685.0,
        "trend": 51.548362,
        "fair_value": 50.106775,
        "relative_strength": -4.031862,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 37.881903,
        "energy": 44.535294,
        "activity_lines": [
          53.433808,
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          51.490592,
          51.476666
        ]
      },
      {
        "date": "2026-06-19",
        "close": 52.5,
        "volume": 400,
        "typical_volume": 7825.0,
        "trend": 51.482645,
        "fair_value": 50.095931,
        "relative_strength": -7.761844,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "up",
        "direction": 55.213924,
        "energy": 53.199104,
        "activity_lines": [
          53.457969,
          52.206557,
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 50.290001,
        "volume": 1000,
        "typical_volume": 7280.0,
        "trend": 51.358637,
        "fair_value": 50.05752,
        "relative_strength": -11.534851,
        "stage": 3,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "up",
        "direction": 30.226865,
        "energy": 28.35257,
        "activity_lines": [
          52.521,
          52.068085,
          51.441582,
          51.461118
        ]
      },
      {
        "date": "2026-07-03",
        "close": 46.240002,
        "volume": 1500,
        "typical_volume": 6990.0,
        "trend": 51.190578,
        "fair_value": 49.995862,
        "relative_strength": -18.924714,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -57.34073,
        "energy": 30.559143,
        "activity_lines": [
          50.228223,
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          50.920751,
          51.130883
        ]
      },
      {
        "date": "2026-07-10",
        "close": 47.880001,
        "volume": 12900,
        "typical_volume": 7370.0,
        "trend": 51.134992,
        "fair_value": 49.956211,
        "relative_strength": -15.808948,
        "stage": 4,
        "regime": "rotation_down",
        "modifier": "Structural failure",
        "gate": "down",
        "direction": -63.873263,
        "energy": 50.320173,
        "activity_lines": [
          48.988668,
          50.528066,
          50.58814,
          50.917297
        ]
      },
      {
        "date": "2026-07-17",
        "close": 49.5,
        "volume": 7800,
        "typical_volume": 7020.0,
        "trend": 51.100374,
        "fair_value": 49.918627,
        "relative_strength": -12.521611,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.958303,
        "energy": 53.419302,
        "activity_lines": [
          48.721334,
          50.261403,
          50.433753,
          50.811814
        ]
      },
      {
        "date": "2026-07-24",
        "close": 48.439999,
        "volume": 11300,
        "typical_volume": 7120.0,
        "trend": 51.04925,
        "fair_value": 49.876213,
        "relative_strength": -14.234838,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -59.569393,
        "energy": 65.535152,
        "activity_lines": [
          48.440667,
          49.822356,
          50.203414,
          50.640177
        ]
      },
      {
        "date": "2026-07-31",
        "close": 49.0,
        "volume": 9800,
        "typical_volume": 7490.0,
        "trend": 50.925956,
        "fair_value": 49.852406,
        "relative_strength": -12.514681,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.612602,
        "energy": 53.675698,
        "activity_lines": [
          48.617333,
          49.497727,
          50.056503,
          50.507967
        ]
      },
      {
        "date": "2026-08-07",
        "close": 49.09,
        "volume": 5800,
        "typical_volume": 7600.0,
        "trend": 50.861156,
        "fair_value": 49.826288,
        "relative_strength": -14.793303,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -51.211807,
        "energy": 31.167374,
        "activity_lines": [
          48.91,
          49.211334,
          49.941687,
          50.389519
        ]
      }
    ],
    "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."
    }
  }
}