Cava Group Just Flashed Golden Cross Signal: Do You Buy？ - Cava Group (NYSE:CAVA)

Benzinga

2024-06-26 23:56

After reaching an important support level, Cava Group (NYSE: CAVA) could be a good stock pick from a technical perspective. CAVA surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.

　　CAVA has rallied 13% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests CAVA could be on the verge of another move higher.

　　Once investors consider CAVA's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 7 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

　　Investors should think about putting CAVA on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

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