"CAVA closed strong on Friday and after some consolidation I believe it's ready to surge again." Nate Bear, Lead Technical Tactician, Monument Traders Alliance Publisher's Note: Is it time to buy or hide from the market? The indexes keep trying to break down – but our senior analyst Chris Johnson is going to show you why that won't happen. At 2 p.m. ET this Wednesday, Chris will be showing traders the deeper details of one-day selloffs. He'll also show you why certain stocks are actually bouncing back. Once you see the market this way, you'll track it daily. Click here to sign up today. - Stephen Prior, Publisher Markets opened in the red again yesterday as the conflict in Iran showed no signs of colling. My plan for this trading week is to stay light – no guns blazing. Instead, I'm looking for charts that are ignoring the macro noise and moving on their own terms. One of those tickers is Cava Group (CAVA). I'm looking to add to CAVA early and often this week. Here's why…. CAVA closed strong on Friday, riding continued momentum from a blowout earnings report. That gap up created a buy opportunity – and I believe we see a gap close and then some as the week plays out. Check out its chart below. You'll see a clear gap up, followed by some weekend consolidation. This is the kind of setup I love. With clear momentum, we just need a trigger for a gap close. |
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