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RossLarter

AVI - Multiple bounces off of strong support level

Long
AVI LTD (JSE:AVI)  
RossLarter Updated   
JSE:AVI   AVI LTD
Trend Analysis Support and Resistance jse ALSI ZAR southafrica AVI
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trendanalysis supportandresistance jse alsi zar southafrica avi
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.
Comment:
Price has reached the 200SMA. It may find some resistance here. Keep an eye out for a reversal or continuation and adjust accordingly.
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