BALTIMORE ( 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.
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.While some fund managers are already trying to leverage social media resources like Twitter to find algorithmic trading opportunities, for most investors, crowdsourcing works best as a starting point for investors who want a starting point in their analysis. Today, we'll leverage the power of the crowd to take a look at some of the most active stocks on the market today. >>5 Rocket Stocks to Buy as Stock Bounce 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 today's stocks. >>4 Reasons Not to Buy Stocks in 2013 Boston Scientific Nearest Resistance: $7.75
Nearest Support: $7.25
Catalyst: Technical Setup >>5 Big Stocks to Trade as S&P Tests Record Highs Boston Scientific (BSX - Get Report) is seeing significant trading volume today -- and this week, in fact -- thanks to an attractive technical setup that's been forming in shares. BSX has been consolidating sideways in a rectangle pattern for the better part of 2013, bouncing off of horizontal resistance at $7.75 and horizontal support down at $7.25. Consolidations like the one in BSX are common after large price moves because they give investors a chance to catch their breath and figure out their next moves; after the 35% rally in BSX over the last six months, this stock certainly qualifies.