Jun. 20 at 5:14 PM
$CAVA
This is the third day in a row holding above
$74.00. We're nearing the
$75.50 support level and less than
$1 away from the critical breakout zone of
$76.50. A close above
$75.50–
$76.00 on 3M+ shares would be a bullish signal.
A break of
$76.50 on volume unlocks the path to
$80–85 which is our next milestone before
$100. Our P/E of ~63 is still high, but it's typical for fast-growth restaurant chains like CAVA in an expansion mode. In short, the biggest threat is what happens news related over the weekend. But, our price action is improving, sentiment is stabilizing and we're within striking distance. If we hit
$76.50+ with volume, we’ll officially shift from "base building" to "reversal in motion."
