{
  "ticker": {
    "uuid": "ecac9e7e-f206-402f-8967-44790d9f2373",
    "symbol": "RAY",
    "name": "Stingray Group 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": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 61.26,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Balance after decline",
    "architecture_gate": "mixed",
    "architecture_direction": 20.715,
    "architecture_energy": 17.985,
    "architecture_maturity": 19.049,
    "architecture_confidence": 60.968,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "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."
      },
      "scores": {
        "balance": 54.68,
        "rotation_up": 42.28,
        "upward_expansion": 45.8,
        "deceleration": 36.94,
        "rotation_down": 25.28,
        "downward_expansion": 8.8
      },
      "activity_lines": [
        15.517333,
        15.471273,
        15.222347,
        15.162776
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 15.4,
    "trend_reference": 15.200608,
    "distance_from_trend": 0.013117,
    "trend_direction": "Improving",
    "fair_value": 9.31183,
    "distance_from_fair_value": 0.65381,
    "fair_value_direction": "Weakening",
    "relative_strength": -0.169783,
    "relative_strength_direction": "Weakening",
    "price_momentum": -0.091745,
    "excess_performance": -0.212166,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.013117,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.035889,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.65381,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.092352,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.001698,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.072804,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.091745,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.972214,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 81700,
      "relative_activity": 0.586188,
      "balance": 0.972214,
      "dry_up": 0.758565,
      "accumulation_observations": 1,
      "distribution_observations": 3
    },
    "risk": {
      "range_context": 0.070481,
      "annualized_volatility": 0.395807,
      "from_high_reference": -0.134635,
      "from_low_reference": 0.640209
    },
    "levels": {
      "trend_reference": 15.200608,
      "fair_value_reference": 9.31183,
      "structural_low": 12.923318,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 10,
        "median_return": 0.016039,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.016832,
        "regime_survival": 0.4,
        "best_return": 0.25505,
        "worst_return": -0.09719,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 5,
        "median_return": 0.043303,
        "positive_rate": 0.6,
        "directional_follow_through": 0.6,
        "median_excess_return": 0.012629,
        "regime_survival": 0.2,
        "best_return": 0.25187,
        "worst_return": -0.148537,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": 0.267891,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.221757,
        "regime_survival": 0.0,
        "best_return": 0.915211,
        "worst_return": -0.181133,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.076972,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.016531,
        "regime_survival": 0.0,
        "best_return": 0.440972,
        "worst_return": -0.287028,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-08",
        "end": "2024-11-15",
        "tenure": "New",
        "return": 0.031056,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-22",
        "end": "2024-12-20",
        "tenure": "Developing",
        "return": -0.082149,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-01-31",
        "tenure": "Developing",
        "return": 0.119143,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-02-07",
        "end": "2025-04-04",
        "tenure": "Developing",
        "return": -0.038765,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-04-11",
        "end": "2025-05-09",
        "tenure": "Developing",
        "return": 0.047676,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-05-23",
        "tenure": "New",
        "return": -0.033333,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-05-30",
        "end": "2025-06-06",
        "tenure": "New",
        "return": 0.065656,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-06-13",
        "end": "2025-06-20",
        "tenure": "New",
        "return": 0.022518,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-08-29",
        "tenure": "Developing",
        "return": -0.002534,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-09-05",
        "end": "2025-09-26",
        "tenure": "New",
        "return": 0.040634,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-10-03",
        "end": "2026-03-13",
        "tenure": "Established",
        "return": 0.407061,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2026-05-22",
        "tenure": "Developing",
        "return": -0.016428,
        "active": false
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      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
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        "end": "2026-06-05",
        "tenure": "New",
        "return": 0.042553,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-06-12",
        "end": "2026-08-07",
        "tenure": "Developing",
        "return": -0.098361,
        "active": true
      }
    ],
    "chart_path": [
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        "modifier": "Recompressing",
        "gate": "up",
        "direction": 46.773834,
        "energy": 22.652096,
        "activity_lines": [
          15.140163,
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        ]
      },
      {
        "date": "2026-04-24",
        "close": 15.647155,
        "volume": 284300,
        "typical_volume": 299405.0,
        "trend": 14.091246,
        "fair_value": 8.322473,
        "relative_strength": 15.33061,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 39.556173,
        "energy": 26.891441,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-01",
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        "volume": 178500,
        "typical_volume": 291745.0,
        "trend": 14.254439,
        "fair_value": 8.386734,
        "relative_strength": 11.047417,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
        "gate": "up",
        "direction": 36.060787,
        "energy": 23.884647,
        "activity_lines": [
          15.427127,
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        ]
      },
      {
        "date": "2026-05-08",
        "close": 14.752464,
        "volume": 117400,
        "typical_volume": 285385.0,
        "trend": 14.407985,
        "fair_value": 8.448509,
        "relative_strength": 7.110613,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Re-acceleration watch",
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        "energy": 19.924099,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-15",
        "close": 13.509837,
        "volume": 156800,
        "typical_volume": 285615.0,
        "trend": 14.504053,
        "fair_value": 8.501979,
        "relative_strength": -1.5564,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": -4.174352,
        "energy": 7.578235,
        "activity_lines": [
          14.632509,
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      },
      {
        "date": "2026-05-22",
        "close": 13.688776,
        "volume": 149500,
        "typical_volume": 287965.0,
        "trend": 14.589044,
        "fair_value": 8.557955,
        "relative_strength": -2.482119,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -21.324939,
        "energy": 28.516225,
        "activity_lines": [
          14.177873,
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        ]
      },
      {
        "date": "2026-05-29",
        "close": 14.1,
        "volume": 75000,
        "typical_volume": 268645.0,
        "trend": 14.673978,
        "fair_value": 8.617967,
        "relative_strength": -0.928701,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -24.673468,
        "energy": 37.500379,
        "activity_lines": [
          14.028647,
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      },
      {
        "date": "2026-06-05",
        "close": 14.7,
        "volume": 19900,
        "typical_volume": 259785.0,
        "trend": 14.792677,
        "fair_value": 8.681882,
        "relative_strength": 3.790876,
        "stage": 3,
        "regime": "rotation_down",
        "modifier": "Supply rotation",
        "gate": "mixed",
        "direction": -24.459363,
        "energy": 36.698453,
        "activity_lines": [
          14.182564,
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      },
      {
        "date": "2026-06-12",
        "close": 17.08,
        "volume": 100700,
        "typical_volume": 237195.0,
        "trend": 14.907141,
        "fair_value": 8.758758,
        "relative_strength": 18.07225,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
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        "energy": 20.053499,
        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
        "close": 15.47,
        "volume": 269100,
        "typical_volume": 239865.0,
        "trend": 14.927302,
        "fair_value": 8.828528,
        "relative_strength": 6.479095,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 35.183043,
        "energy": 25.027972,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-26",
        "close": 14.86,
        "volume": 26400,
        "typical_volume": 214750.0,
        "trend": 14.929292,
        "fair_value": 8.894215,
        "relative_strength": 1.957991,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "up",
        "direction": 33.91438,
        "energy": 26.424534,
        "activity_lines": [
          15.394667,
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      },
      {
        "date": "2026-07-03",
        "close": 15.17,
        "volume": 25500,
        "typical_volume": 170760.0,
        "trend": 14.974242,
        "fair_value": 8.960971,
        "relative_strength": 3.019169,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 19.188039,
        "energy": 21.627443,
        "activity_lines": [
          15.370667,
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        ]
      },
      {
        "date": "2026-07-10",
        "close": 15.42,
        "volume": 109900,
        "typical_volume": 165435.0,
        "trend": 15.020933,
        "fair_value": 9.029904,
        "relative_strength": 4.235409,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 17.805116,
        "energy": 17.312122,
        "activity_lines": [
          15.358667,
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          15.004819,
          15.051847
        ]
      },
      {
        "date": "2026-07-17",
        "close": 15.56,
        "volume": 117000,
        "typical_volume": 155740.0,
        "trend": 15.079542,
        "fair_value": 9.100481,
        "relative_strength": 4.969339,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 22.269045,
        "energy": 12.122257,
        "activity_lines": [
          15.345333,
          15.272134,
          15.065473,
          15.086625
        ]
      },
      {
        "date": "2026-07-24",
        "close": 15.34,
        "volume": 153400,
        "typical_volume": 153145.0,
        "trend": 15.115657,
        "fair_value": 9.16982,
        "relative_strength": 2.873197,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 8.480243,
        "energy": 8.890466,
        "activity_lines": [
          15.36,
          15.341978,
          15.103269,
          15.103429
        ]
      },
      {
        "date": "2026-07-31",
        "close": 15.8,
        "volume": 70800,
        "typical_volume": 145295.0,
        "trend": 15.16447,
        "fair_value": 9.242107,
        "relative_strength": 6.118835,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 26.209404,
        "energy": 20.573375,
        "activity_lines": [
          15.536667,
          15.462182,
          15.185155,
          15.14758
        ]
      },
      {
        "date": "2026-08-07",
        "close": 15.4,
        "volume": 81700,
        "typical_volume": 139375.0,
        "trend": 15.200608,
        "fair_value": 9.31183,
        "relative_strength": -0.169783,
        "stage": 2,
        "regime": "balance",
        "modifier": "Balance after decline",
        "gate": "mixed",
        "direction": 20.715403,
        "energy": 17.985168,
        "activity_lines": [
          15.517333,
          15.471273,
          15.222347,
          15.162776
        ]
      }
    ],
    "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."
    }
  }
}