{"schema_version":"1.0","name":"RGLD Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-14","ticker":{"uuid":"cdfa110f-f6ec-445a-bfec-81c40ce8b9c4","symbol":"RGLD","name":"Royal Gold, Inc.","exchange":"MEX","country":"MX","asset_type":"equity","currency":"MXN","sector":"Basic Materials","industry":"Gold"},"summary":"Market Dynamics improved this week but remains below zero. The broader path has not changed enough to establish a new direction. 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elevated relative to Market Dynamics","kind":"structuralDivergence","expectedDirection":"lower","episodes":1,"completedEpisodes":1,"activeEpisodes":0,"medianExpectedMove":26.8,"averageExpectedMove":26.8,"averageWeeksToLargestMove":12.0,"horizons":[{"weeks":4,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-9.4,"medianReturn":-9.4,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":12,"sample":1,"expectedCount":1,"expectedPercent":100.0,"averageReturn":-26.8,"medianReturn":-26.8,"confidenceLow":20.7,"confidenceHigh":100.0,"confidence":"Mixed historical record"},{"weeks":26,"sample":0,"expectedCount":0,"confidence":"Not enough evidence"}],"path":[{"week":0,"sample":0},{"week":1,"averageReturn":-20.2,"sample":1},{"week":2,"averageReturn":-20.2,"sample":1},{"week":3,"averageReturn":-8.1,"sample":1},{"week":4,"averageReturn":-9.4,"sample":1},{"week":5,"averageReturn":-8.3,"sample":1},{"week":6,"averageReturn":-17.5,"sample":1},{"week":7,"averageReturn":-18.9,"sample":1},{"week":8,"averageReturn":-18.9,"sample":1},{"week":9,"averageReturn":-18.9,"sample":1},{"week":10,"averageReturn":-24.8,"sample":1},{"week":11,"averageReturn":-26.8,"sample":1},{"week":12,"averageReturn":-26.8,"sample":1},{"week":13,"averageReturn":-26.8,"sample":1},{"week":14,"averageReturn":-25.8,"sample":1},{"week":15,"averageReturn":-25.7,"sample":1},{"week":16,"averageReturn":-30.6,"sample":1},{"week":17,"averageReturn":-30.6,"sample":1},{"week":18,"averageReturn":-30.6,"sample":1},{"week":19,"averageReturn":-31.0,"sample":1},{"week":20,"averageReturn":-31.0,"sample":1},{"week":21,"averageReturn":-31.0,"sample":1},{"week":22,"sample":0},{"week":23,"sample":0},{"week":24,"sample":0},{"week":25,"sample":0},{"week":26,"sample":0}]},"currentApplication":{"status":"Downside evidence leads price","tone":"negative","headline":"Price is leading its underlying support","use":"Market Dynamics must catch up or price may correct toward the weaker underlying position.","confirm":"The downside remains supported. Further price weakness would confirm that price is catching up with the weaker underlying position.","invalidate":"Reassess the reading when either price structure or the Market Dynamics state changes materially.","level":"negative","direction":"strengthening","zone":"middle","zoneContext":"Price has advanced further through its recent range than Market Dynamics. The gap is an early-downside risk watch; stronger underlying support or a price reset is needed to close it.","historical":{"label":"Broad directional cases","weeks":12,"direction":"lower","percent":14.3,"averageReturn":0.2,"sample":7},"nowContext":{"label":"Stronger this week","detail":"Market Dynamics improved this week but remains below zero."},"fourWeekContext":{"label":"Broadly steady over four weeks","detail":"The broader path has not changed enough to establish a new direction."},"priceContext":{"label":"Price is ahead of the underlying support","detail":"Price is extended relative to Market Dynamics. The gap is a downside-risk warning until support catches up or price resets."}},"strategyApproach":{"headline":"Strategy observations from this ticker's own record","summary":"The current reading identifies the setup. The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"In this ticker's completed record, 14.3% of comparable cases moved lower after 12 weeks, with an average move of 0.2% across 7 cases.","watch":"Reassess the reading when either price structure or the Market Dynamics state changes materially."},{"eyebrow":"Zone positioning","title":"Use accumulation to prepare the long case, then wait for confirmation","tone":"positive","finding":"After accumulation, 100.0% of completed 12-week outcomes were higher across 1 cases. Distinct visits lasted 53.0 weeks on average before leaving the zone.","approach":"Build the thesis and entry conditions while price is in accumulation. Increase exposure only when price responds; location alone is not the entry.","watch":"A failed price response or renewed weakness removes the reason to increase long exposure."},{"eyebrow":"Disagreement playbook","title":"Use unsupported price strength to tighten discipline","tone":"caution","finding":"Comparable disagreements produced an average pullback of 3.5% across 7 completed cases, with the largest move arriving after 2.4 weeks on average.","approach":"Avoid adding simply because price is rising. Let improving Market Dynamics confirm the move, or let price reset before reassessing it.","watch":"The warning ends when Market Dynamics catches up or price gives way."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[{"date":"2024-08-30","price":2769.416748}],"distribution_rollovers":[{"date":"2026-03-27","price":3989.525146}],"price_pressure_gaps":[{"date":"2026-03-20","price":4999.404785}]}},"smTape":{"available":true,"dates":["2024-08-23","2024-08-30","2024-09-06","2024-09-13","2024-09-20","2024-09-27","2024-10-04","2024-10-11","2024-10-18","2024-10-25","2024-11-01","2024-11-08","2024-11-15","2024-11-22","2024-11-29","2024-12-06","2024-12-13","2024-12-20","2024-12-27","2025-01-03","2025-01-10","2025-01-17","2025-01-24","2025-01-31","2025-02-07","2025-02-14","2025-02-21","2025-02-28","2025-03-07","2025-03-14","2025-03-21","2025-03-28","2025-04-04","2025-04-11","2025-04-18","2025-04-25","2025-05-02","2025-05-09","2025-05-16","2025-05-23","2025-05-30","2025-06-06","2025-06-13","2025-06-20","2025-06-27","2025-07-04","2025-07-11","2025-07-18","2025-07-25","2025-08-01","2025-08-08","2025-08-15","2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"close":[1823.2336,2769.4167,2769.4167,2769.4167,2769.4167,2769.4167,2769.8167,2597.8584,2597.8584,2597.8584,2597.8584,2914.5969,2914.5969,2914.5969,2914.5969,2914.5969,2914.5969,2914.5969,2914.5969,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.0466,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.4961,2915.946,2915.946,2915.946,2829.2876,2829.2876,2829.2876,2829.2876,2829.2876,2829.2876,2829.2876,2829.2876,3491.2085,3491.2085,3491.6582,3699.1401,3684.1438,3579.1682,3285.2363,3285.2363,3551.9243,3551.9243,3551.9243,3551.9243,3551.9243,3551.9243,4188.0264,4188.5015,4188.5015,4626.3491,5069.3965,5016.4028,5016.4028,4794.4292,4794.4292,4999.4048,4999.4048,4999.4048,4999.4048,3989.5251,3989.5251,4595.0,4528.0,4582.6899,4122.583,4055.4817,4055.4817,4055.4817,3761.5193,3661.8105,3661.7805,3661.8044,3708.7701,3717.0,3471.45,3471.45,3471.45,3452.0,3452.0,3452.0],"consensus":[-13.6881,85.4425,55.6021,55.745,55.5802,43.7866,57.5467,0.0,24.3641,22.8849,21.018,67.3005,48.8875,48.3299,47.4245,34.701,33.1705,31.3635,29.3553,41.6015,25.4284,23.5898,21.9778,20.3978,19.1854,18.1101,17.1229,16.184,15.264,14.3438,13.4125,12.4656,26.8375,11.222,10.2767,9.3322,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,0.0,18.6872,0.0,0.0,-85.8215,-53.9108,-53.5129,-53.0485,-41.0503,-40.5325,-40.0018,-39.4606,82.7975,54.2294,68.8646,97.7944,49.6829,35.0379,-14.5704,-9.1508,47.5836,27.2629,39.2564,38.2456,27.4505,26.1069,74.8895,59.6767,48.0733,84.1401,84.3958,18.9447,49.6138,36.8607,24.1191,75.4659,32.1163,41.1208,39.8339,-44.4052,-43.7308,21.7618,-36.0253,33.7196,-54.3254,-65.2724,-40.0454,-39.6648,-78.1697,-54.8834,-44.3203,-43.9109,-30.5858,-26.358,-58.6697,-42.9196,-44.7045,-63.2789,-34.4707,-33.6176],"supportDates":["2025-08-22","2025-08-29","2025-09-05","2025-09-12","2025-09-19","2025-09-26","2025-10-03","2025-10-10","2025-10-17","2025-10-24","2025-10-31","2025-11-07","2025-11-14","2025-11-21","2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14"],"control":[-39.642,-39.1389,-38.6323,-38.1255,69.4424,42.8659,64.904,98.6649,36.2584,18.5362,-13.5427,-3.8103,69.1309,34.893,34.3084,33.6804,32.9996,32.2575,81.5385,62.7093,40.0502,97.4104,96.4483,1.4733,40.298,46.9959,35.7232,89.3534,36.8112,36.3029,35.7848,-37.0138,-36.5829,47.2204,-25.3392,37.2178,-65.6591,-65.4799,-31.9732,-31.1386,-86.2295,-47.7866,-35.6172,-35.0657,-26.0167,-30.7273,-56.9491,-35.6371,-35.095,-62.6587,-34.3077,-33.6797],"force":[-0.0,-0.0,-0.0,-0.0,99.9487,18.0,38.6086,99.9106,7.741,11.4106,-23.3858,-10.4398,37.863,3.4892,10.4263,10.4322,0.0,0.0,57.9997,22.2247,10.44,57.973,57.135,50.5577,10.4399,31.1368,10.0822,84.599,1.3502,9.7511,9.9047,-20.7927,-10.4399,35.8174,-62.9068,48.4288,-62.0108,-58.0312,-10.3373,-10.4047,-67.4232,-33.0372,-10.308,-10.3411,-6.1387,-6.1327,-37.9672,-9.4276,-17.3504,-48.3814,-3.3374,-3.5875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downward confirmation","headline":"The gauges support the downward market view","summary":"Price structure and Market Dynamics agree. Control, force and direction support the same downward assessment.","take":"Current assessment: downward pressure has broad support.","tone":"negative","supportedView":"Price structure and Market Dynamics","direction":"downward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Seller control supports the view","controlPath":"Broadly stable","forceState":"Commitment is limited","forcePath":"Broadly stable","directionState":"Downward follow-through","persistenceState":"Established","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Quiet"},"cards":[{"label":"SM Consensus Gauge","value":"-33.6","detail":"Joint downward confirmation","tone":"negative"},{"label":"SM Control Gauge","value":"-33.7","detail":"Seller control supports the view","tone":"negative"},{"label":"SM Force Gauge","value":"-3.6","detail":"Commitment is limited","tone":"negative"},{"label":"SM Direction Gauge","value":"-55.0","detail":"Downward 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impulse","title":"Acceleration, deceleration and rollover","description":"The impulse path separates directional acceleration from a loss of momentum.","reason":"Selected because the latest impulse is unusually active or is approaching a change of 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