LM: Leg Mason Inc.
One of the basic tendencies of markets is that periods of range contraction or low volatility are followed by periods of range expansion or volatility implosion.
To anticipate a breakout you have to scan for or identify stocks in range contraction or low volatility phase. From that stage the stock will eventually breakout in either direction. In case of LM it was a bullish breakout. It offered a low risk entry point.
Long running trends have series of such range contraction and range expansion periods. This offers swing traders several opportunities for swing trades.