WINDERMERE, Fla. (Stockpickr) -- U.S. stocks soared on Thursday after positive data came out of China and the debt-burdened countries in Europe.China's central bank surprised the market after it reported a jump in loans for March. Market players viewed that news as a positive since many were worried that China's economy was starting to lose some of its feverish growth. Debt worries in Europe took a day off after Italy had no issues in selling $6.4 billion in government debt. That successful sale helped rates in Italy fall, and European stocks to reverse course and trend higher after opening up in the red. >>5 Big Stocks to Trade for Gains The Dow Jones Industrial Average finished up 181 points and the S&P 500 added 18 points. The tech-heavy Nasdaq exploded higher by 39 points. All three of these U.S. indices are now trading above or very close to their 50-day moving averages. If they all can continue to trend above their 50-days, we could easily see the market continue to extend its gains from Thursday. That said, any selloff for all three back below their 50-days will put any future rallies into serious jeopardy. If we do see all three indices trending above their 50-days, then we are going to see a ton of stocks trigger major breakout trades. Trend traders who look for breakouts know that market is always serving up stocks that are ready to move and explode higher. 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. 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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