If you look at the chart we’re entering some pretty interesting technical levels.
Hermes is now even trading below its 1M SMA 100…
Momentum is a bit low atm to be honest… 😂
But look at the historical P/E (blue line).
We’re now back around 2014 valuation lows.
And what was the big fear around 2014? I asked my friend ChatGPT…
CHINA! 🇨🇳
China was slowing down. Luxury spending was weakening. And fears arose around Chinese demand.
Sounds familiar? YES!
Because today we have basically the same discussion again.
This time it’s different?
No. Because as long as $RMS is able to artificially keep demand higher than supply.
They’ve nothing to worry about…
Mr. Market at it again! 🧔🏻♂️🏪📉
