Bottom reversal candle occurred
Hammer
This reversal candle pattern has a lower tail that is at least twice the length of the body and usually has no upper tail or the upper tail is relatively short. The body can be either white or black, although a white body generally provides a stronger reversal signal than a black body does (since the close is above the open with a white Hammer candle). A variation to the Hammer candle is a candle that has a lower tail that is less than twice the length of the body, but the lower tail is at least as long as the body.
The name for this candle pattern is an easy one to remember as it simply resembles a hammer. The analogy with a bar chart is that the stock opened, traded down and then back up to close around its opening price.
The significance of the Hammer candle is that the market could not sustain the low prices of the day and indicates that the selling may be finished for now. If the Hammer candle body is below the preceding bar (gap down), this increases the significance of this candle pattern. The following day's trading above the high of the Hammer candle is a strong indication that the downtrend may have reversed.
yesterday
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Possible Bottom Reversal Candle Yesterday
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Open | High | Low | Value | Volume |
$1.52 | $1.52 | $1.50 | $9.759M | 6.470M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 102542 | $1.51 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.52 | 80024 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 102542 | 1.510 |
1 | 300 | 1.505 |
14 | 200988 | 1.500 |
10 | 151707 | 1.495 |
11 | 97361 | 1.490 |
Price($) | Vol. | No. |
---|---|---|
1.515 | 80024 | 6 |
1.520 | 105037 | 3 |
1.525 | 78344 | 6 |
1.530 | 10216 | 1 |
1.535 | 30216 | 2 |
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