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 ?
3 : to hit something hard and repeatedly <She hammered on the door.
hammer out : to produce or bring about by persistent effort <"They hammered out those rules after the failure ten years ago.