Dorman Products Inc. (DORM): A Deep Correction Potential

SUMMARY

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Be cautious with Dorman Products Inc. (DORM) which has likely completed a full five wave sequence as shown in blue in the below chart. These five waves can act as subwaves to a higher degree wave 1; that means that the coming correction could be wave 2. As can be seen, the red A wave down is already in progress. However, the C wave is targeting the 0.78 Fib level...why?

Once the red B wave bounce completes, there it could also complete the Right Shoulder (RS) of a H&S Top pattern. That would drive the C wave to be a deeper than expected correction; beyond the prior wave 4 level. The RS and H has alread formed. The white neckline would also need to be decisively breached. Those are the conditions.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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