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 Stock Charts You Need to See

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 With Big Insider Buying

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

If you liked this article you might like

JA Solar Receives Takeover Bid From CEO Baofang Jin

Here's Why First Solar's Stock Is on a Roller Coaster Ride

Clouds Blow In Over First Solar, Others as Renewables Retreat After Trump Victory

JA Solar (JASO) Stock Jumping, Axiom Upgrades