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Delivery Hero share: double top for DAX admission? The fuse is burning …

Just in time for the – very controversial – inclusion of the Delivery Hero share in the DAX, where it will replace the Wirecard share, a chart check comes here on the share certificate of the Berlin food delivery service, which is meanwhile not doing business in Germany. The company’s share price has shown weakness in the last few days despite the announcement of the DAX admission and fell from 105.00 euros to 94.70 euros, which was reached on Friday. The weekend was only marginally higher, with the closing price in XETRA trading at EUR 94.96.

Noticeable: With the development, the Delivery Hero share failed in an attempt to overcome the all-time high of 106.20 euros reached in early July 2020, even before this attempt to break out became more serious. The subsequent setback was the logical consequence of the chart, but – at least so far – it has not destroyed the overall upward movement. On the contrary: Although the focus is on the first supports at EUR 94.16 / 94.84, they were not undershot in XETRA trading on Friday. The indications on late Friday evening were also above the technical support at 94.98 / 95.48 euros in Tradegate trading.

This makes the brand interesting. A slide below this could possibly trigger greater need for correction in the Delivery Hero share. However, other supports for the share price of the Berliners are nearby: These can be found between 91.92 / 92.20 euros and 88.54 / 89.30 euros. Further sell signals to these brands could then actually lead to technical problems for the Delivery Hero share. The zone of 105.00 / 106.20 euros remains the potential double top for paper with an intermediate low of 89.20 euros. A quick rise above the potential double top would be extinguishing water on the fuse.

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