Trading stocks that trigger big breakouts can lead to massive profits. Once a stock trends to a new high, or takes out a previous resistance point, it's free to find new momentum players that can quickly push the stock up sharply.

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

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

Halozyme Therapeutics

If you take a look at the chart for Halozyme Therapeutics (HALO - Get Report) , you'll notice that this stock is starting to trend back above both its 50-day, at $13.09, and its 20-day, at $13.10 a share. This flirt with those moving averages is coming after this stock just formed a double bottom at $12.44 to $12.35 a share. Now shares of Halozyme Therapeutics are quickly trending within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in Halozyme Therapeutics if it manages to break out above some near-term resistance levels at $13.21 to $13.25 with strong volume. Look for a sustained move above those levels with volume that hits near or above its three-month average of 1.36 million shares. If that breakout hits soon, this stock will set up to refill some of its recent gap-down-day zone that started at $14.72 a share.

Array BioPharma

If you take a look at the chart for Array BioPharma (ARRY - Get Report) , you'll notice that this stock has been downtrending badly over the last three months, with shares falling sharply off its high of $13.40 to its recent low of $7.84 a share. During that move, this stock was consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of Array BioPharma have now started to rebound off that $7.84 low, and it's quickly trending within range of triggering a big breakout trade above a recent downtrend line.

Traders should now look for long-biased trade in Array BioPharma if it manages to clear that downtrend line above its 20-day at $8.70 to around $9 with high volume. Look for a sustained move above those levels with volume that registers near or above its three-month average 4.02 million shares. If that breakout triggers soon, this stock will set up to retest or possibly take out its next major resistance levels at $9.60 to its 50-day at $10.17, or even $11.50 to $12 a share.

TG Therapeutics

If you take a look at the chart for TG Therapeutics (TGTX - Get Report) , you'll notice that this stock recently formed a double-bottom chart pattern, after shares found some buying interest at $9.85 to $9.95 over the last two months. This stock is now starting to spike higher off those support levels, and it's beginning to trend within range of triggering a big breakout trade.

Traders should now look for long-biased trades in TG Therapeutics if it manages to break out above some near-term overhead resistance levels at $10.80 to $12 and then over more resistance at $12.24 with high volume. Look for a sustained move above those levels with volume that hits near or above its three-month average of 2.15 million shares. If that breakout fires off soon, this stock will set up to retest or possibly take out its next major resistance levels at $13.50 to its 52-week high of $15.05 a share.

Builders FirstSource

If you take a look at the chart for Builders FirstSource (BLDR - Get Report) , you'll notice that this stock has been uptrending over the last month and change, with shares moving higher off its low of $14.04 to its recent high of $15.44 a share. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. That uptrend is now quickly pushing shares of Builders FirstSource within range of triggering a big breakout trade.

Traders should now look for long-biased trades in Builders FirstSource if it manages to break out above some near-term overhead resistance levels at $15.44 to its 52-week high of $15.85 with volumes that hits near or above its three-month average of 1.48 million shares. If that breakout develops soon, this stock will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $17 to $18, or even $20 a share.

Achillion Pharmaceuticals

If you take a look at the chart for Achillion Pharmaceuticals (ACHN) , you'll notice that this stock is starting to reverse higher here after printing a new 52-week low on an intraday basis at $3.54 a share. This early reversal has the potential to push this stock within range of triggering a big breakout trade, if that positive price action can now gain sustained momentum.

Traders should look for long-biased trades in Achillion Pharmaceuticals if it manages to break out above a key downtrend line that will trigger over $3.75, to its 20-day at $3.82, with volume that hits near or above its three-month average of 1.36 million shares. If that breakout triggers soon, this stock will set up to make a run at its next key resistance levels at its 50-day of $4.01 to $4.45, or even $4.90 a share.

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