JSE:AVI has bounced off of the support level at around 7000 numerous times since early 2020. It is struggling to make lower lows, so my prediction would be that it continues upward towards the 7550 area or at least to around the 200SMA.
We have been flowing the distribution and markdown of AVI from the beginning of 2019 (See posts below). Although we are in the markdown phase we have now seen a selling climax with price going oversold and breaking the demand line. We have seen a reversal bar and the stock should now have an automatic rally and enter a trading range.
Following the distribution and markdown of AVI (See posts below) we have been testing the overbought line for some time. After testing the yearly pivot point at the start of the year it is possibly ready to continue the markdown.