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.
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References in periodicals archive ?
While Scotland hammered away at the Irish defence on a cool, clear afternoon that defied pre-game expectations of high winds from storm Erik, the home side could not add to a single try from centre Sam Johnson.
The car was hammered away for PS101,250, more than PS30,000 above its lower estimate.
England hammered away at Nabil Maaloul's side and shrugged off having several penalty shouts ignored to grab a vital three points.
Craig Cook and Mason Campton made it an easy 5-1 opening for over David Howe and Nick Morris but Dany Gappmaier and guest Connor Coles hammered away from the gate to hold a Bandits to a 1-5 of their own and level the match 6-6, however with another 5-1 to the Comets in Heat Three from Ty Proctor and Matt Williamson over Jye Etheridge and Kevin Doolan to put the home side 11-7 up.
One highlight of the sale was a 1979 Ferrari 308 GTS, which was hammered away for a premium inclusive PS82,225 - more than PS50,000 over its lower estimate and a world record for the model.
They picked on a street and hammered and hammered away at it, and I don't think it did anyone around here any favours."
A crowd of thousands saw 20 of the cars on offer successfully hammered away for a total of more than PS350,000, with dozens of charity lots also being snapped up by eager festival goers.
Abertysswg were down 11-13 with just 10 minutes remaining and hammered away for nine minutes and 30 seconds before replacement centre Josh Perry kicked a splendid goal to win.