CAVA Group Inc (CAVA) owns & operate the chain of restaurants in the United States. Company offers dips, spreads & dressings through grocery stores. It also provides online & mobile ordering platforms. It comes under Consumer Cyclical sector & trades as “CAVA” ticker at NYSE.

CAVA is showing impulse sequence from October-2023 low, which ended at $172.43 high. Short term, it favors bounce in ((X)) of II, which should fail below November-2024 high to resume lower.

CAVA – Elliott Wave Latest Daily View: 

It made all time low of $29.05 on 10.04.2023 low. Above there, it started bullish sequence of I, ended at $172.43 high. Within I sequence, it ended ((1)) at $98.69 high, ((2)) at $72.10 low, ((3)) at $141.25 high, ((4)) at $129.51 low & ((5)) at $172.43 high. Within ((1)) sequence, it ended (1) at $35.36 high, (2) at $29.66 as flat, (3) at $71.60 high, (4) at $58.22 low & (5) at $98.69 high in July-2024. Below $172.43 high, it started correcting in II against October-2023 low before rally resumes.

It placed ((W)) at $109.23 low in 3 swing structure. Within ((W)), it placed (A) at $133.00 low, (B) at $153.34 high & (C) at $109.23 low in extreme areas. Currently, it favors pullback in (B) of ((X)), while placed (A) at $126.48 high. It should extend (B) towards $118.94 – $114.62 area & remain above $109.23 to bounce in (C) to finish ((X)). Once it finished ((X)) in 3 or 7 swings, it should extend lower in ((Y)) to extreme areas to finish II. We like to buy the pullback in ((Y)) at extreme areas, which can project once ((X)) ends.

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