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5 Stocks Poised for Breakouts

DELAFIELD, Wis. (Stockpickr) -- Trading stocks that trigger major breakouts can lead to massive profits. Once a stock trends to a new high, or takes out a prior overhead resistance point, then it's free to find new buyers and momentum players that can ultimately push the stock significantly higher.

>>5 Dividend Stocks That Want to Pay You More

One example of a successful breakout trade I flagged recently was 3D printer maker Voxeljet AG (VJET), which I featured in Nov. 8's "5 Stocks Poised for Breakouts" at around $41.50 a share. I mentioned in that piece that shares of VJET were uptrending strong since its IPO in October, with the stock soaring from under $20 to its recent high at that time of $42.76 a share. Shares of VJET were starting to trend within range of triggering a major breakout trade above its former all-time high of $42.76 a share.

Guess what happened? Shares of VJET went on to trigger that breakout the same day my article hit the wires with the stock closing at $44.91 a share. This stock continued to skyrocket higher the following week, with shares hitting a new all-time high of $70 a share on November 18. That represents a monster gain of close to 70% in an extremely short timeframe. You can see the power of breakout trading demonstrated with this monster run in shares of VJET in just a bit over a week from when the stock closed in new all-time high territory.

>>5 Stocks Under $10 Set to Soar

Breakout candidates are something that I tweet about on a daily basis. I frequently tweet out high-probability setups, breakout plays and stocks that are acting technically bullish. These are the stocks that often go on to make monster moves to the upside. What's great about breakout trading is that you focus on trend, price and volume. You don't have to concern yourself with anything else. The charts do all the talking.

Trading breakouts is not a new game on Wall Street. This strategy has been mastered by legendary traders such as William O'Neal, Stan Weinstein and Nicolas Darvas. These pros know that once a stock starts to break out above past resistance levels, and hold above those breakout prices, then it can easily trend significantly higher.

>>5 Stocks Insiders Love Right Now

With that in mind, here's a look at five stocks that are setting up to break out and trade higher from current levels.

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