Priceline Forms Bearish Engulfing on High Volume

Priceline has been one of the top performers over the last four months, but a correction may be in the cards after a high-volume bearish engulfing pattern. Notice how the stock opened above the prior close and then declined to close below the prior open. The strong open failed to hold as the prior candlestick was completely engulfed. You can find more of these patterns on a predefined scans page.

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