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 ?
| 5: Boxed Vickers Vigor remote control track laying tractor had a guide price for PS20-30, went under the hammer for PS600.
Among the more unusual items that went under the hammer in Belfast on Thursday was an espresso set featuring designs by artist Damien Hirst, which went for PS300.
Notable lots that went under the hammer at the recent Dubai sale included an unused 2016 Volvo EC210BLC excavator which went for $75,000.
Other notable vehicles which went under the hammer at the sale included an original right hand drive 1974 Ferrari Dino 246 GT E Series, with coachwork by Scaglietti and design by Pininfarina, which went for PS374,000 and a 1977 Ferrari 512 BB that featured at the 1977 London Motor Show, which sold for PS225,000.
The Otterburn Hall Hotel went under the hammer at Newcastle's Marriott Hotel yesterday.
Nobel laureate Rabindranath Tagore's blue-leather-and-gilt dairy has fetched the highest price of any Indian manuscript that ever went under the hammer.