A stock forming a bullish hammer near its support line
A single candlestick pattern, the hammer is formed when the body of a candle is small & appears at the upper end of the trading range, with the length of its lower shadow being more than twice the length of its body. A hammer signals a potential change in sentiment in the stock, a likely trend reversal.
When the hammer is formed at the bottom of a downtrend, it’s called a bullish hammer. It indicates a new buying interest after several bearish sessions.
And we found a stock forming this pattern as of 23rd Oct 2023!
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