Cava Group (CAVA) Crossed Above the 20-Day Moving Average: What That Means for Investors

Cava Group (CAVA) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CAVA broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.CAVA could be on the verge of another rally after moving 6.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.The bullish case only gets stronger once investors take into account CAVA's positive earnings estimate revisions. There have been 7 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors should think about putting CAVA on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CAVA Group, Inc. (CAVA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks