One of my favorite patterns is called a Slim Jim. The pattern usually forms as a high-range trend continuation/consolidation with declining volume after a major high-volume gap. MWW and NOV have formed the prototypical example of the pattern–huge gap up on high volume and subsequent sideways movement with declining volume. This tips us to the fact that buyers are content to hold their shares and sellers are scarce. Buy on a break of resistance driven by an increase on volume indicating buyers have decided to push the stock on a second trend leg. Stop goes either just below the point of breakout or at the bottom of the pattern. This pattern also works well on a second entry if the first one fails. Pay attention to the pattern if for some reason price drops out of the bottom and then returns to the consolidation. This pattern failure & return can result in an explosive move up. This pattern appears in all time frames and is easy to spot. Often the second entry is the best one, so be patient, don’t risk a lot and keep the stops tight. While I usually avoid breakout plays, these Slim Jims are more of a consolidation or continuation pattern of a trend move. If you miss the breakout, look to enter on a pullback, particularly if volume rises, which indicates that institutions have decided to launch the stock on its second and most profitable trend leg.