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Hammer

 

Description

 

This bullish reversal pattern is considered moderately reliable.

 

After a downtrend, a small body forms with a long lower wick, the longer the more bullish. It has no upper wick.

 

This reversal causes the stock to close near its opening price near the days high, signally a possible reversal. Bulls are expected to have exited, and shorts are carefully watching the bounce. Confirmation is needed with a strong next day with solid volume.

 

Market Opinion

 

Bullish.

 

Pattern

Description: Description: C:\avasaramworkspace\avasaramWeb\web\tutorials\candlesticks\Hammer_files\image001.jpg 

 

 

 

 
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