In a large bowl, mix together the sweetened condensed milk, melted butter, coconut, powdered sugar, and pecans. Cover and refrigerate overnight.
Shape into 1-inch balls and place an a baking sheet lined with wax paper. Cover with plastic wrap and refrigerate for 1 hour.
Place the chocolate and shortening in a heavy-bottomed saucepan. Heat over low heat, stirring frequently until smooth.
Take about 10 balls out of the refrigerator at a time. One at a time dip them into the chocolate, lifting them out with a fork so the excess chocolate can drip down. Place them on wax paper. Let them sit until the chocolate has set.
Notes
Chocolate Almond Bark can be used instead of the chocolate chips and shortening.