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 ?
PRINCESS DIANA THE sale of 79 dresses belonging to Princess Diana raised an incredible EUR2million when they went under the hammer in 1997.
All the other items donated went under the hammer of amateur auctioneer Frank Wright at the Trinity Methodist church Schoolrooms, Huddersfield Road, Mirfield.
Furniture, fittings and memorabilia went under the hammer at Bonhams in central London this week, after the landmark hotel closed its doors for a pounds 100 million facelift.
The work, Nympheas, had been expected to fetch about pounds 15 million when it went under the hammer at Sotheby's in London.
Pizza Express, in Dean Street, Newcastle, and Newcastle Bowl, in the city's Westgate Road, both went under the hammer at a property auction by Allsops in London yesterday.
The digger went under the hammer at JCB's headquarters in Staffordshire.
A JAR of glass eyes, a pair of stuffed guinea pigs and a 19th-century dentist's chair went under the hammer as a Victorian museum held the ultimate closingdown sale.