Trading stocks that trigger major breakouts with volume can lead to massive profits. Just take a look at a hot breakout setup I flagged last week with Tesla Inc. (TSLA) - Get Report . That breakout setup ended up triggering after Tesla cleared some key resistance levels around $327 a share. Since then, this stock has exploded higher and touched a high of $376.87 a share.

I frequently flag high-probability setups, which are breakout plays and stocks that are acting technically bullish. What's great about breakout trading is that you only focus on trends, price and volume. You don't have to concern yourself with anything else. The charts do all the talking.

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

Seattle Genetics Inc.

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If you take a look at the chart for Seattle Genetics Inc. (SGEN) - Get Report , you'll notice that this stock has started to trend back above both its 50-day moving average of $64.65 and its 20-day at $64.95 a share. This bump to the upside is quickly pushing this biotech stock within range of triggering a major breakout trade.

Traders should now look for long-biased trades in Seattle Genetics if it manages to break out above a key downtrend line that will trigger over $66.35 to $68.59 with strong upside volume. Look for a sustained move above those levels with volume that registers near or above its three-month average of 662,428 shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next key resistance level at $71.32 to its 52-week high of $75.36 a share.

Esperion Therapeutics Inc.

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If you take a look at the chart for Esperion Therapeutics Inc. (ESPR) - Get Report , you'll notice that this stock has been uptrending over the past few weeks, with shares moving higher off its low of $30.95 to its intraday on Friday of $37.37 a share. This short-term uptrend is quickly pushing this stock within range of triggering a major breakout trade.

Traders should look for long-biased trade in Esperion if it manages to break out above some key resistance levels at $38.40 to $39.75 with strong volume. Look for a sustained trend above those levels with volume that hits near or above its three-month average of 1.90 million shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its 52-week high of $48.21 a share.

Apple Inc.

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If you take a look at the chart for Apple Inc. (AAPL) - Get Report , you'll notice that this stock has been trending sideways and consolidating over the past month and change, with shares moving between $149.71 on the downside and $156.65 on the upside. Traders should now keep their eyes on a high-volume move above the upper-end of its recent range to potentially trigger a major breakout trade.

Traders should look for long-biased trades in Apple if it manages to break out above some key resistance levels at $155.98 to its 52-week high of $156.65 with high volume. Look for a sustained move above those levels with volume that hits near or above its three-month average of 24.83 million shares. If that breakout hits soon, then this stock could easily explode higher to $180 or even $200 a share.

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Ultragenyx Pharmaceutical Inc.

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If you take a look at the chart for Ultragenyx Pharmaceutical Inc. (RARE) - Get Report , you'll notice that this stock is ripping higher on Friday back above its 20-day moving average of $57.31 a share. This spike to the upside is quickly pushing this stock within range of triggering a major breakout trade above some key overhead resistance levels.

Traders should look for long-biased trades in Ultragenyx if it manages to break out above its 50-day moving average of $59.89 and then above more key resistance levels at $61.04 to $62.75 with volumes that register near or above its three-month average of 553,814 shares. Some possible upside targets off that breakout are $66.33 to its 200-day moving average of $69.70, or even $74 a share.

Nektar Therapeutics

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If you take a look at the chart for Nektar Therapeutics (NKTR) - Get Report , you'll notice that this stock has recently formed a double-bottom chart pattern, after shares found some buying interest at $18.51 to $18.40 over the past month and change. Following that potential bottom, this stock has started to spike higher and it's quickly trending within range of triggering a major breakout trade.

Traders should look for long-biased trades in Nektar if it manages to break out above a key downtrend line that will trigger over its 20-day moving average of $19.72 and then above $20.73 to $21.55 with volume that hits near or above its three-month average of 2.12 million shares. Some possible upside targets off that breakout are its 52-week high of $24.88 to $30 a share.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.