Editors' pick: Originally published March 10.

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 who 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 and alert.

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.

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.

BioSpecifics Technologies

If you take a look at the chart for BioSpecifics Technologies (BSTC) , you'll notice that this stock has been uptrending over the last month and change, with shares moving higher off its low of $48.75 to its recent high of $54.89. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. This uptrend is now pushing this stock within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in BioSpecifics Technologies if it manages to break out above some near-term resistance levels at $54 to $55 with strong volume. Look for a sustained move above those levels with volume that hits near or above its three-month average of 28,463 shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next major resistance levels at its 52-week high of $58.21 to $63.19 a share.

Agios Pharmaceuticals

If you take a look at the chart for Agios Pharmaceuticals (AGIO) , you'll notice that this stock has been uptrending over the last two months, with shares moving higher off its low of $39.24 to its recent high of $54.73. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. That strong move is now pushing this stock within range of triggering a near-term breakout trade.

Traders should now look for long-biased trade in Agios Pharmaceuticals if it manages to break out above some near-term resistance at $53.57 to $54.73 and then over $55.97 with high volume. Look for a sustained trend above those levels with volume that hits near or above its three-month average of 741,940 shares. If that breakout hits soon, this stock will set up to re-test or possibly take out its next key resistance levels at $65.45 to its 52-week high of $67.74 a share.

Finish Line

If you take a look at the chart for Finish Line (FINL) , you'll notice that this stock recently formed a double bottom chart pattern, after this stock found some buying interest at $15.97 to $15.95 over the last few weeks. Following that potential bottom, this stock has now started to spike higher and move within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in Finish Line if it manages to break out above resistance at $16.80 to its 20-day at $16.96 and then above its 50-day at $17.28 to $17.50 with high volume. Look for a sustained move above those levels with volume that hits near or above its three-month average of 1.54 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 $18.20 to $19, or even its 200-day at $20.29 a share.

Puma Biotechnology

If you take a look at the chart for Puma Biotechnology (PBYI) , you'll notice that this stock has been uptrending strong over the last few weeks, with shares ripping higher off its low of $28.95 to its recent high of $41.15. During that move, this stock has been consistently making higher lows and higher highs, which is bullish technical price action. That fast move has now quickly pushed shares of Puma Biotechnology within range of triggering a big breakout trade.

Traders should now look for long-biased trades in Puma Biotechnology if it manages to break out above some near-term resistance levels at $41.15 to $41.35 and then above its 200-day at $42.40 to $43.20, with volumes that register near or above its three-month average of 955,313 shares. If that breakout kicks off soon, then this stock will set up to make a run at its next major resistance levels at $47.45 to $53.75 a share.

ZIOPHARM Oncology

If you take a look at the chart for ZIOPHARM Oncology (ZIOP) , you'll notice that this stock is spiking notably higher on Friday back above its 20-day moving average of $6.52 a share. This jump to the upside is now quickly pushing this stock within range of triggering a big breakout trade above a key downtrend line that dates back to last November.

Traders should now look for long-biased trades in ZIOPHARM Oncology if it manages to clear that downtrend line and break out above some resistance at $6.80 to $7 with volume that hits near or above its three-month average of 1.47 million shares. If that breakout develops soon, this stock will set up to make a run at its next major resistance levels at $7.32 to $7.80, or even $7.99 to $8.72 a share.

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

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