WINDERMERE, Fla. (Stockpickr) -- Trading stocks that trigger major breakouts can lead to massive profits. Once a stock trends to a new highs 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.One example of a successful breakout trade is casino entertainment services provider Caesars Entertainment ( CZR - Get Report) which I featured in Feb. 22's " 5 Stocks Ready to Break Out" at around $11.50 a share. I mentioned in that piece that shares of CZR had recently pulled back from $14.25 to around $10.50 a share and the stock was just starting to form a consolidation pattern at around $10.60 to $12 a share. I told readers to watch for shares of CZR to trigger a breakout trade above the highs of its consolidation pattern at $12.10 a share with high volume. >>5 Stocks Under $10 Triggering Breakouts Guess what happened? Shares of CZR didn't wait long to trigger that breakout, since the stock took out $12.10 a share with heavy upside volume within a few trading sessions. Shares of CZR have exploded higher since I wrote that article, with the stock now hitting an intraday high of $17.12 a share. That represents a monster gain for anyone who played the breakout. The probability of success with this trade was high, because CZR cleared $12.10 with strong upside volume. This stock is now approaching extremely overbought levels, since its current relative strength index reading is 84.27. 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. >>5 Huge Stocks to Trade for Gains 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. >>5 Stocks With Big Insider Buying
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