Columbia Sportswear Forms Bearish Engulfing Near Resistance Zone

After a rise the last three weeks, COLM hit a pocket of selling pressure and formed a bearish engulfing just below its April highs. This pattern formed even as the S&P 500 closed higher. Also notice that downside volume has consistently outpaced upside volume since late April. The bearish engulfing in COLM was found on the predefined scans page, which is undated throughout the day.

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