The stock has dipped slightly in recent weeks, however potential for more uptrend remains.

Hermes has dipped a little in the month of September, however a strong supportive base is in place and potential for more upside remains. From a technical overview, Hermes share price sits at €1,197.25 with support at the 23.6% Fibonacci level where the price is €1,127.41. A break below the €1,127.41 price could lead to a slide towards the next support level at €1,087.25, which is just below the 23.6% Fibonacci level. Towards the bullish side, resistance sits at €1,232,14 (38.2% fib) followed by further resistance at €1,306.50, which is just below the 50% Fibonacci. A break above the 50% fib could see Hermes shares climb towards the 61.8% Fib level, where it has reached its highs of the year 2022. MACD is neutral and RSI reads 48, overall suggesting a neutral position. Bulls have to monitor carefully if they want to buy the dip.