Deliveroo Share Price Gets Boost from Opening of New Centres

Summary:

The Deliveroo share price looks to cement a four-day winning streak as the company opens several new delivery centres this week.

The Deliveroo share price is getting a boost this Thursday after the food delivery company opened several new centres. This week, the company is launching in St.Ives, with job openings for up to 50 riders. This new centre allows customers to order from at least 15 restaurants and take-away shops. Big names to be served by this new fulfilment centre include Papa Johns and Costa Coffee, along with Morrisons and One Stop.

The company is also launching in Barnstaple and Truro, partnering with Burger King, Pizza Hut, Starbucks, PizzaExpress and Habaneros Burrito Bar. New customers will receive a £10 voucher on their first order in all the new centres.

The Deliveroo share price is up today as investors appear pleased enough with the developments to snap up large swathes of the stock. A 2.85% gain looks to cement a four-day winning streak.

The Deliveroo share price is now challenging the resistance at the 290.9 price mark. A break above this level opens the door for the bulls to charge towards 311.2, but only if they can overcome the price high at the 300.4 psychological area (21 October high). Above this level, the resistance range between the 38.2% Fibonacci retracement at 331.4 and the 20 September high at 335.9 becomes the next upside target.

On the flip side, rejection at 290.9 opens the door for a pullback towards 274.9. If the bears take out this support, 262.4 and 247.2 become additional targets to the south.