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, it's free to find new buyers and momentum players which can ultimately push the stock significantly higher.

Breakout candidates are ones that I tweet about on a daily basis. These are also the exact type of stocks I love to trade.

I frequently flag high-probability setups, which are breakout plays and stocks that are acting technically bullish. These are the ones that often make monster moves to the upside. What's great about breakout trading is that you only focus on trends, price and volume. You don't have to concern yourself with anything else. The charts do all the talking.

Trading breakouts are 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, 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.

21Vianet Group

One technology player that's starting to trend within range of triggering a near-term breakout trade is 21Vianet Group (VNET) , which provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. This stock has been under heavy selling pressure over the last six months, with shares falling by 28.6%.

If you take a look at the chart for 21Viaent Group, you'll notice that this stock has been consolidating and trending sideways over the last two months, with shares moving between $6.83 a share on the downside and $7.58 a share on the upside. Shares of 21Vianet Group are now starting to bounce a bit right off its 20-day moving average of $7.22 a share, and it's also beginning to trend within range of triggering a breakout trade above the upper-end of its recent sideways trading chart pattern.

Traders should now look for long-biased trades in 21Vianet Group if it manages to break out above some near-term overhead resistance levels at $7.40 to $7.58 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 611,873 shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8 to $8.50, or even $8.65 to $9.50 a share.

Traders can look to buy 21Vianet Group off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $7 or at $6.85 a share. 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 comfortable percentage from your entry point.

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