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 who can ultimately push the stock significantly higher.

Breakout candidates are something that I tweet about on a daily basis. These are also the exact type of stocks that I love to trade and alert to my subscribers in real-time.

I frequently flag 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.

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

Akorn

One specialty pharmaceutical player that's starting to move within range of triggering a near-term breakout trade is Akorn  (AKRX - Get Report) , which develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter consumer health products and animal health pharmaceuticals in the U.S. and internationally. This stock has been in favor with the bulls over the last six months, with shares trending up by 14%.

If you take a look at the chart for Akorn, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest over the last three months at $26.27 to $26.07 a share. Following that potential bottom, shares of Akorn have now started to spike modestly higher, and it's quickly trending within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Akorn if it manages to break out above some near-term overhead resistance at $28 a share and then once it takes out both its 20-day moving average of $28.27 a share and its 200-day moving average of $28.90 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 1.21 million shares. If that breakout kicks off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $30.13 a share to $31.14, or even $33 to $34.50 a share.

Traders can look to buy Akorn off weakness to anticipate that breakout and simply use a stop that sits right below those recent double bottom support levels. One can also buy this stock off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Intellia Therapeutics

Another stock that's starting to spike within range of triggering a big breakout trade is Intellia Therapeutics  (NTLA - Get Report) , which focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. This stock has been under notable selling pressure over the last three months, with shares falling sharply by 23.1%.

If you take a glance at the chart for Intellia Therapeutics, you'll notice that this stock ripped sharply higher on Thursday right off its 50-day moving average of $19.68 a share and back above its 20-day moving average of $20.79 a share with decent upside volume flows. This high-volume jump to the upside also managed to push shares of Intellia Therapeutics into breakout territory, since this stock closed above some near-term overhead resistance at $20.38 a share. That move is now quickly pushing this stock within range of triggering another big breakout trade.

Traders should now look for long-biased trade in Intellia Therapeutics if it manages to break out above some near-term overhead resistance levels at $22 to $22.50 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 241,339 shares. If that breakout takes hold soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $24 to $24.90, or even $27 to $28 a share.

Traders can look to buy Intellia Therapeutics off weakness to anticipate that breakout and simply use a stop that sits right below its 20-day moving average of $20.79 a share or around its 50-day moving average of $19.68 a share. One could also buy this stock off strength once it starts to move above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Acadia Pharmaceuticals

Another biopharmaceutical player that's starting to trend within range of triggering a near-term breakout trade is Acadia Pharmaceuticals  (ACAD - Get Report) , which focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. This stock has been on fire over the last six months, with shares exploding higher by 68.8%.

If you take a glance at the chart of Acadia Pharmaceuticals, you'll notice that this stock recently formed a double bottom chart pattern over the last month and change, after shares found some buying interest at $31 to $30.68 a share. Following that potential bottom, shares of Acadia Pharmaceuticals have now started to trend higher and move back above its 20-day moving average of $32.59 a share. That trend is now quickly pushing this stock within range of triggering a near-term breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Acadia Pharmaceuticals if it manages to break out above its 50-day moving average of $33.87 a share and then above some key near-term resistance at $35.34 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 2.11 million shares. If that breakout gets underway soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $37 to $38, or even $39.50 to $42.50 a share.

Traders can look to buy Acadia Pharmaceuticals off weakness to anticipate that breakout and simply use a stop that sits right around those recent double bottom support levels. One can also buy this stock off strength once it starts to bust above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Hornbeck Offshore Services

An energy services player that's starting to spike within range of triggering a major breakout trade is Hornbeck Offshore Services  (HOS - Get Report) , which provides marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the U.S. military customers. This stock has been hammered by the sellers over the last six months, with shares falling sharply lower by 45%.

If you take a glance at the chart for Hornbeck Offshore Services, you'll notice that this stock ripped sharply higher on Thursday back above its 20-day moving average of $5.54 a share with strong upside volume flows. Volume for that trading session registered over 1.64 million shares, which is well above its three-month average action of 1.03 million shares. This high-volume spike to the upside is now quickly pushing shares of Hornbeck Offshore Services within range of triggering a major breakout trade above some key overhead resistance levels.

Traders should now look for long-biased trades in Hornbeck Offshore Services if it manages to break out above Thursday's intraday high of $5.85 a share and then above more key near-term overhead resistance levels at $6 to $6.11 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 1.03 million shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to $6.77, or even its 50-day moving average of $7.02 to $8 a share.

Traders can look to buy Hornbeck Offshore Services off weakness to anticipate that breakout and simply use a stop that sits right around Thursday's intraday low of $5.26 a share or just below $5 a share. One can also buy this stock off strength once it starts to trend above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Vantiv

My final breakout trading prospect is business services player Vantiv  (VNTV) , which provides electronic payment processing services to merchants and financial institutions in the U.S. This stock has risen modestly over the last six months, with shares higher by 7.8%.

If you look at the chart for Vantiv, you'll notice that this stock recently formed a double bottom chart pattern, after shares found some buying interest over the last month at $52.45 to $52.58 a share. Following that potential bottom, this stock has now started to uptrend and move back above its 20-day moving average of $53.69 a share with decent upside volume flows. This trend is now quickly pushing shares of Vantiv within range of triggering a big breakout trade above some key near-term overhead resistance levels.

Traders should now look for long-biased trades in Vantiv if it manages to break out above some near-term overhead resistance at $55.53 a share and then above its 50-day moving average of $55.81 a share with volume that registers near or above its three-month average action of 1.53 million shares. If that breakout develops soon, then this stock will set up to re-fill some of its previous gap-down-day zone from August that started near $57.50 a share. If that gap gets filled with strong upside volume flows, then this stock could easily challenge its 52-week high of $59.62 a share.

Traders can look to buy shares of Vantiv off weakness to anticipate that breakout and simply use a stop that sits right below its 20-day moving average of $53.69 a share or around those recent double bottom support levels. One can also buy this stock off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a conformable percentage from your entry point.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.