Dorman Products $DORM was one of the few names that made new highs during the late 2018 market correction. I think this distinction is worth noting and worth considering as a reason to buy on a dip, EVEN in this tentative market. DORM Daily Chart(click to enlarge)Non-Correlation:- DORM has been somewhat negative correlated or at least NOT correlated to the US equities market.- It did follow the some of the bearish tone in March and again in October. - BUT, while the markets continued to dip in November, DORM headed higher, and broke into new all-time-highs. - Recently, in January 2019, while the equities market has been recovering, DORM has been pulling back from new all-time-highs. - This makes DORM an interesting name to consider adding to a portfolio that consists of names correlated with the Indices and the overall market. Support for Pullback:- Price is approaching the first level of support around $83.50. - This was a previous resistance pivot area. - Furthermore, the RSI is right around 40. If the market is still carrying bullish momentum, the RSI tends to stay above 40. - We did see the decline stall around $83.50, but we have not seen a rebound from here yet, so we should consider the prospect of price dipping lower.- In this scenario, we can look at the $79.75-$80 area for support. However, if price CAN get back down here, I think there could be further downside. - I am more comfortable anticipating a dip towards the 200-day simple moving average and the rising trendline support. - This means, I would be looking at the $75-$78 area with more intend to buy here than at higher support levels.Average Entry, stop, target, reward to risk:- In my set up, I would start with a small position at $83.60. I would double that position around $75. - It would be ideal to see a bullish divergence between price and the RSI if price is around $75. - This would mean an average entry price of $79.30.- The stop would be something like 69.- And the target would be the $100 handle. - This trade idea would have roughly a 2:1 reward to risk ratio.