CAVA Group, Inc.Short
Short CAVA potential Gap fill
The current ascending triangle has tested 128 multiple times since August. Briefly holding above on 9/23/24 following a major retracement to a long term support trendline. I believe if the broader market turns bearish in the next week it will retest the 121-122 levels of support. if the current macro-economic events in the middle east, a hard landing and/or the euro/asian markets begin a reversal then we could see the gap fill to 104 in the long term. possibly in the next month or two. CAVA has strong fundamentals and a strong price target of 135 by UBS just a week ago. So i wouldnt be surprised if it breaks through the 128 level one more time before shifting directions. These are my observations and not financial advice.
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