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 ?
According to the Religion News Service, ICES hammers away at environmentalists for their "faulty science and economics, strident street theater, and demands for immediate, drastic action on problems that are often hypothetical or overstated.
In one of the great panoramic set pieces of the English language--the famous chapter from his History on the condition of England in 1685--Macaulay sets out to cure the reader of any notion that the olden times were better: For page upon page he hammers away at the miserableness of the food, the lodgings, the roads, the communications, the sanitation; the badness of governance; the insecurity of person and property; the prevalence of disorder and crime.
1 -- 3) Big John Paxton, above, hammers away on a B-3 organ at the Jazz Bakery, where he and his trio close a four-night stand tonight.