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 who can ultimately push the stock significantly higher.

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.

Blonder Tongue Laboratories

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One communication equipment player that's quickly moving within range of triggering a big breakout trade is Blonder Tongue Laboratories (BDR) - Get Report , which operates as a technology development and manufacturing company in the U.S. This stock has been on fire in 2014, with shares up by 153%.

If you take a look at the chart for Blonder Tongue Laboratories, you'll notice that this stock has been uptrending strong for the last two months, with shares ripping higher from its low of $1 a share to its recent high of $2.88 a share. During that uptrend, shares of BDR have been making mostly higher lows and higher highs, which is bullish technical price action. Shares of BDR briefly broke out on Thursday above some near-term overhead resistance levels at $2.58 to $2.60 a share, before it closed just below those levels at $2.44 a share with strong upside volume flows. That move is now quickly pushing shares of BDR within range of triggering a much bigger breakout trade.

Traders should now look for long-biased trades in BDR if it manages to break out above some near-term overhead resistance levels at Thursday's intraday high of $2.63 a share and then above $2.80 and its 52-week high of $2.88 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 278,972 shares. If that breakout triggers soon, then BDR will set up to enter new 52-week-high territory above $2.88 a share, which is bullish technical price action. Some possible upside targets off that move are $3.50 to $4 a share, or even $4.50 a share.

Traders can look to buy BDR off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support levels at $2.13 to $1.95 a share. One can also buy BDR off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

RetailMeNot

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A marketing services player that's starting to move within range of triggering a big breakout trade is RetailMeNot (SALE) , which operates a digital coupon marketplace. Its marketplace connects consumers with retailers and brands. This stock has been under heavy selling pressure in 2014, with shares off dramatically by 48%.

If you take a glance at the chart for RetailMeNot, you'll notice that this stock has been consolidating and trending sideways for the last two months, with shares moving between $13.29 on the downside and just over $16 a share on the upside. Shares of SALE jumped higher on Thursday and broke out above some near-term overhead resistance at $14.39 a share. That move is now quickly pushing shares of SALE within range of triggering a much bigger breakout trade above some key near-term overhead resistance levels.

Traders should now look for long-biased trades in SALE if it manages to break out above some near-term overhead resistance levels at $15.03 to $15.34 a share and then above its 50-day moving average of $15.75 a share and over its gap-down-day high from November at $16.23 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 1.12 million shares. If that breakout materializes soon, then SALE will set up to re-fill some of its previous gap-down-day zone from early November that started above $21 a share.

Traders can look to buy SALE off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $13.29 a share. One could also buy SALE off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

QEP Midstream Partners

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Another energy player that's starting to trend within range of triggering a near-term breakout trade is QEP Midstream Partners (QEPM) , which is engaged in the ownership, operation, acquisition, and development of midstream energy assets in the U.S. This stock has been hammered lower by the sellers over the last six months, with shares down sharply by 34%.

If you take a glance at the chart for QEP Midstream Partners, you'll see that this stock has been consolidating and trending sideways for the last two months and change, with shares moving between $14.27 on the downside and $16.95 on the upside. Shares of QEPM have now started to spike higher off its recent low of $14.27 a share with strong upside volume flows. That spike is quickly pushing shares of QEPM within range of triggering a breakout trade above the upper-end of its recent sideways trading chart pattern.

Traders should now look for long-biased trades in QEPM if it manages to break out above its 50-day moving average of $16.47 a share and then above more key near-term overhead resistance levels at $16.82 to $16.95 a share with high volume. Watch for a sustained move or close above those levels with volume that hits near or above its three-month average action of 210,125 shares. If that breakout develops soon, then QEPM will set up to re-test or possibly take out its next major overhead resistance levels at $21 to its 200-day moving average of $21.76 a share.

Traders can look to buy QEPM off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $14.27 a share or around its 52-week low of $14.08 a share. One can also buy QEPM off strength once it starts to bust above those breakout levels share with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Repros Therapeutics

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Another development stage biopharmaceutical player that's starting to move within range of triggering a near-term breakout trade is Repros Therapeutics (RPRX) , which focuses on the development of new drugs to treat hormonal and reproductive system disorders in the U.S. This stock has been hit hard by the sellers in 2014, with shares off sharply by 51%.

If you take a glance at the chart for RPRX, you'll notice that this stock has recently formed a double bottom chart pattern at $7.96 to $8.04 a share. Since finding some buying interest at those levels, shares of RPRX have now started to trend back above its 50-day moving average of $8.21 a share. That trend is quickly pushing shares of RPRX within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in RPRX if it manages to break out above some key near-term overhead resistance levels at $9.25 to around $9.50 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average volume of 1.22 million shares. If that breakout begins soon, then RPRX will set up to re-test or possibly take out its next major overhead resistance levels at $10.72 to $11.21 a share, or even $12 to $13 a share.

Traders can look to buy RPRX off weakness to anticipate that breakout and simply use a stop that sits right below those recent double bottom support levels. One can also buy RPRX off strength once it starts to bust above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Cyber-Ark Software

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My final breakout trading prospect is technology player Cyber-Ark Software (CYBR) - Get Report , which develops, markets and sells IT security solutions that protect organizations from cyber attacks in the U.S. and internationally. This stock has been red hot in 2014, with shares up sharply by 35%.

If you look at the chart for Cyber-Ark Software, you'll notice that this stock recently pulled back off its all-time high of $47.01 to its low of $36 a share. That pull back took shares of CYBR right to its 50-day moving average, which has so far held as a key area of support. Shares of CYBR have now started to spike higher off its 50-day and it's quickly moving within range of triggering a major breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in CYBR if it manages to break out above Thursday's intraday high of $41.60 a share to some more resistance at $43.25 share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 2.47 million shares. If that breakout develops soon, then CYBR will set up to re-test or possibly take out its all-time high at $47.01 a share. Any high-volume move above that level will then give CYBR a chance to tag or trend north of $50 a share.

Traders can look to buy CYBR off weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $36.60 a share or around more near-term support at $36 a share. One can also buy CYBR off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a conformable percentage from your entry point.

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including

CNBC.com

and

Forbes.com

. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.