Lester_Davids
Short

Discovery's Short Term Distribution Zone

JSE:DSY   DISCOVERY LTD
Discovery ( DSY ) 15341c - approaching a level of interest/potential technical distribution zone. At an 18 price earnings ratio , the shares appear elevated however the growth profile would attract the rating. Recently shares have benefit as markets have ticked higher however we have seen director instituting protection structures to limit downside while capping upside gains. Although there has recently been some green shoots, DSY also enters the banking arena along with a number of other players against a backdrop of high unemployment and low business confidence. Technically, we are approaching the downward trend line going back to Sept 2018. Anything above ~ 157 is possibly a short term distribution zone.
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