
CAVA premarket situation room.
RSI:
Short term : ~50
Long term : ~ 50
Both RSI indicators signal market indecision.
Technical chart analysis:
-3 month head and shoulders pattern, third and final wave about to start, timed with great earnings.
-Consistent bullish 6 month bullish trend (akin close to parallel lines) with ever higher highs and lows barring the current dip which again, perfect time with earnings.
Other factors:
Majority of analysts rate it as a BUY, even those who rate it as hold are mostly concerned about long time indicators and unsure of how long the bullish trend will go but no fundamental basis why they wouldn't rate it as bullish. Past 24 hours news are nearly all positive with whispers about AI integration (and we all know how the market loves anything AI now even if it's a microchipped happy meal).
After market hours:
Bullish momentum, traders already moving in on the earnings report news driving the price up to 78.18 per share.
Thoughts? I'm going long as soon as market opens.