GREY:XEBEQ - Post by User
Comment by
ZouZS3on Dec 01, 2021 2:22pm
60 Views
Post# 34186272
RE:daily hammer candlestick
RE:daily hammer candlestickHighlight: daily hammer candlestick occurs when a security trades significantly lower (2.45) than its opening (2.62) , but rallies later in the day to close either above or near its opening price (2.62)
ZouZS3 wrote:
seems like Xebec right now... let's hope it's correct! What are your thoughts? When a stock makes a new 52-week low intra-day but fails to register a new closing 52-week low, it may be a sign of a bottom. This can be determined if it forms a daily hammer candlestick, which occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above or near its opening price. This can trigger short-sellers to start buying to cover their positions, and can also encourage bargain hunters to start making moves. Stocks that make five consecutive daily 52-week lows are most susceptible to seeing strong bounces when a daily hammer forms.