5 Stocks Ready to Explode Higher

DELAFIELD, Wis. (Stockpickr) -- I love to scan the markets for stocks that have the potential to go up a massive amount in a very short timeframe. Who wouldn't, right? It's not any easy thing to do, but when you've looked at as many chart patterns for as long as I have, it starts to become second nature. You start to see chart patterns and setups that work over and over again--or at least have a high probability of working.

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One of my recent finds that has blown even my expectations away is China-based health care player Dehaier Medical Systems (DHRM), which I featured in Jan. 16's "5 Stocks Under $10 Set to Soar" at $4.75 share. That chart was screaming at me when I found it, because DHRM was already in a strong uptrend and was setting up to break out into new 52-week-high territory. That's exactly what DHRM did, and as I type this the stock has tagged an intraday high today of $12.39 a share. That's a ridiculous gain of over 100% in just one month.

Now, not all setups are going to work or produce explosive moves.. This is Wall Street, after all, and they don't like to make it easy for us. That being said, if you know how to locate high-quality setups, then you just have to wait for price and volume to confirm that a big move could be in the cards.

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With that in mind, here's a look at five stocks that could be setting up for explosive moves higher soon.

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