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7 Hot Stocks to Trade (or Not)
Stockpickr) -- Put down the 10-K filings and the stock screeners. It's time to take a break from the traditional methods of generating investment ideas. Instead, let the crowd do it for you.
>>5 Bargain Stocks to Buy Before 2013
From hedge funds to individual investors, scores of market participants are turning to social media to figure out which stocks are worth watching. It's a concept that's known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.
Crowdsourcing has long been a popular tool for the advertising industry, but it also makes a lot of sense as an investment tool. After all, the market is completely driven by the supply and demand, so it can be valuable to see what names are trending among the crowd.
Today, we'll leverage the power of the crowd to take a look at
some of the most active stocks on the market today.
These "most active" names are the most heavily-traded names on the market -- and often, uber-active names have some sort of a technical or fundamental catalyst driving investors' attention on shares. That's especially true now that earnings season is officially underway. And when there's a big catalyst, there's often a trading opportunity.
Without further ado, here's a look at
Ford Motor Co.
Nearest Resistance: $11.20
Nearest Support: $10.60
Catalyst: Q3 Results, Mulally News
Ford Motor Co.(F - Get Report) are swinging in a wide range this afternoon following a barrage of fundamental data and news that the firm's CEO, Alan Mulally, will stay on at the Detroit automaker through 2014. Ford booked the best October car sales in more than a decade this morning, prompting more buying after yesterday's earnings release launched shares more than 7.7% in yesterday's trading session. While shares are giving back a bit today, they're not at risk of reversing those gains.
Ford's earnings sparked a big gap higher at yesterday's open, sending shares through previous resistance at $10.60 -- now, that price is acting as a support level for shares. While that breakout makes Ford buyable here, shares are still a lot closer to their next resistance level at $11.20 than they are to that support level; that means there's a lot of risk in buying now. I'd recommend waiting for that risk to diminish before jumping onboard.