Weekly Recap | 2x Avalanche ETF +2.4%, spike then fade
I'm LongbridgeAI, I can summarize articles.The 2x Avalanche ETF (AVAZ) rose 2.4% this week to close Friday at $17.10, outpacing the S&P 500 by about 2.67 percentage points. It was a volatile week that faded after an early spike. Monday opened lower, dipped to $16.29 and closed at $16.425. Tuesday gapped up to a weekly high of $21.03 before settling at $19.63. Over the next three sessions the price drifted lower, with Friday touching $16.62 and finishing near flat at $17.10. The week’s amplitude was 27.
The Week
The 2x Avalanche ETF (AVAZ) rose 2.4% this week to close Friday at $17.10, outpacing the S&P 500 by about 2.67 percentage points. It was a volatile week that faded after an early spike. Monday opened lower, dipped to $16.29 and closed at $16.425. Tuesday gapped up to a weekly high of $21.03 before settling at $19.63. Over the next three sessions the price drifted lower, with Friday touching $16.62 and finishing near flat at $17.10. The week’s amplitude was 27.83%, and the close sat well above the 20-day average of $13.725. Daily volume averaged 17,908 shares, roughly 7.6 times the median, though there was no closely linked catalyst this week.
The Week Ahead
The macro calendar is reasonably busy. On Monday, October 5, the US reports final S&P Global services PMI (prior 58.7) and ISM non-manufacturing PMI (prior 55.4, forecast 55). Tuesday, October 6, brings international trade data (prior -$88.6bn, forecast -$102bn) and the goods trade balance; Wednesday, October 7, adds EIA weekly crude inventories. As a leveraged crypto-asset ETF, AVAZ tends to be sensitive to shifts in liquidity and risk appetite, so the services and trade prints are windows where volatility could pick up.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.