$CAVA: Good Food , Great Stock

CAVA , the Mediterranean themed Restaurant chain had a very successful 2024 IPO debut @ 40$. Then the stock went on to make a 52-week high of 170 $. Since then, the momentum of the stock has faded away and the price fell below 20-Day, 50-Day and 100-Day SMA. The stock bounced back from the 200 Day SMA of 108 $. This pattern is visible with most of the quality Mid Cap and Small Cap names. ‘Buyers returning at key support labels.’ Check out my analysis on other stocks and indexes at 200 Day SMA. I think the 200 Day SMA is held and we consolidate here for a few weeks before starting a upward move for a new ATH.