A downtrend has been apparent in Cyclacel Pharmaceuticals, Inc. (CYCC) lately. While the stock has lost 13.8% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bu ...