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 Dow Dividend Stocks to Beat the S&P One example of a successful breakout trade I flagged recently was development-stage biopharmaceutical player Puma Biotechnology ( PBYI), which I featured in June 21's " 5 Stocks Poised for Breakouts" at around $40 a share. I mentioned in that piece that shares of PBYI had been uptrending strong for the last six months, with the stock consistently making higher lows and higher highs, which was bullish technical price action. That move was quickly pushing shares of PBYI within range of triggering a major breakout trade if it could take out its all-time high at $40.49 a share with high volume. Guess what happened? Shares of PBYI didn't wait long to trigger that breakout since the stock cleared its all-time high that same day with decent upside volume. Then on June 28, PBYI exploded higher again with monster volume of 1.95 million shares vs. its three-month average action of 222,230 shares. This stock hit a new all-time high a few days ago at $57.22 a share, which represents a gain of over 40% from when the stock was trading near $40 a share. Anyone who played this breakout banked some serious coin in just a few weeks as PBYI continued to uptrend strong and print new highs. >>5 Stocks Insiders Are Scooping Up 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 Hated Earnings Stocks You Should Love With that in mind, here's a look at five stocks that are setting up to break out and trade higher from current levels.