Published on 18 Nov 2021 on Zacks via Yahoo Finance
Weibo (WB) Sees Hammer Chart Pattern: Time to Buy?
Weibo Corporation WB has been struggling lately, but the selling pressure may be coming to an end soon. That is because WB recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.
What is a Hammer Chart Pattern?
A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.