  Context. The blazar AO 0235+164, located at redshift $z=0.94$, has displayed
interesting and repeating flaring activity in the past, the latest episodes
occurring in 2008 and 2015. In 2020, the source brightened again, starting a
new flaring episode that peaked in 2021. Aims. We study the origin and
properties of the 2021 flare in relation to previous studies and the historical
behavior of the source, in particular to the 2008 and 2015 flaring episodes.
Methods. We analyze the multi-wavelength photo-polarimetric evolution of the
source. From Very Long Baseline Array images, we derive the kinematic
parameters of new components associated with the 2021 flare. We use this
information to constrain a model for the spectral energy distribution of the
emission during the flaring period. We propose an analytical geometric model to
test whether the observed wobbling of the jet is consistent with precession.
Results. We report the appearance of two new components that are ejected in a
different direction than previously, confirming the wobbling of the jet. We
find that the direction of ejection is consistent with that of a precessing
jet.The derived period independently agrees with the values commonly found in
the literature. Modeling of the spectral energy distribution further confirm
that the differences between flares can be attributed to geometrical effects.
