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 ?
We're hammered out here,'' said Kimberly Nida, emergency room manager for Valley Presbyterian, which treated 130 patients Tuesday compared with a typical load of 70 patients.
Details of how the ordinance will be enforced have not yet been hammered out, she said.