Hermès shares rebound 5.9% over the week but remain down 14% over three months
The Parisian saddlery group recovers sharply during the session, as the CAC 40 rises strongly. This rebound follows several weeks of decline that pushed the stock away from its moving averages, a few days after the publication of its activity for the first nine months.
A rebound that brings the price back above its MM20 but below its MM50
Hermès gains 2.32% to €1,343 and now trades 3.25% above its MM20 moving average, at €1,300.70. The MM50 remains at €1,361.18, 1.34% above the price, and the MM200, at €1,639.29, is much further away.
The rebound follows a one-week gain of +5.87%, but the stock is still down nearly 14% over three months. A high point is identified at €1,381.50, while support lies at €1,238.50. Meanwhile, the four-year low reached on October 22 remains in memory, following the group's activity update.
Luxury rebounds across the board, with LVMH, Dior and Kering higher
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Hermès is not alone in rebounding: LVMH rises 1.79%, Christian Dior 1.88% and Kering 4.19%, according to session data. Over one month, LVMH and Dior gain more than 7%, while Kering remains at -11.44%.
The CAC 40 climbs 1.52% at midday, driven in particular by banks. On the results side, the nine-month revenue published on October 22 came in at €12,260 million, with third-quarter growth of 4.3% at constant exchange rates. The stock remains down 36.5% over one year. The next technical level to watch is the MM50, at €1,361.18.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
