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 ?
Hines, who burst on to the scene this season, had hoped to help fire the Hammers away from the drop zone and establish himself in the England Under-21 squad.
With Craig Bellamy's future the subject of speculation, former England Under-21 international Cole could play an important role in getting the Hammers away from the Barclays Premier League relegation zone.
The chisel-head action is unique because it hammers away at solid obstacles.