Hammer

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Hammer

In candlestick charts, the representation of a trading day where a security trades significantly below its opening price for most of the day, but closes either above or close to the opening price. It is called a hammer because the candlestick representing the trading day looks somewhat like a hammer. It is not necessarily a bullish indicator, but a hammer may mean that the market is nearing a bottom.
References in periodicals archive ?
His loser's medal goes under the hammer in Sheffield tomorrow in a sale by ELR Auctions.
A sports car once owned by Great Train Robbery mastermind and driver Bruce Reynolds is expected to be sold for at least pounds 24,000 when it goes under the hammer at a big classic car auction in October.
The items are all from a single owner collection of the kind which rarely goes under the hammer.
And the discovery could leave a record dealer singing all the way to the bank when an acetate record of the song goes under the hammer next month.
IT WILL all come down to the luck of the Irish when a rare violin goes under the hammer later this month.
The lot is estimated to attract bids in the region of pounds 500 to pounds 700 when it goes under the hammer at Bonhams auctioneers' next sale of Antique Arms and Militia on January 27.
The George I silver chalice featuring the great architect's crest is expected to fetch between pounds 2,000 and pounds 3,000 when it goes under the hammer on July 4.