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 thats 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.>>Invest Like a Hedge Fund With the Pros' 5 Favorite Stocks 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. 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, heres a look at today's stocks. Rite Aid Nearest Resistance: $6.87
Nearest Support: $6.30
Catalyst: Analyst Upgrade Shares of drugstore chain Rite Aid (RAD - Get Report) are up more than 5.4% this afternoon, following an upgrade from analysts Goldman Sachs. Goldman upped its price target from $5 to $8, a move that gets extra emphasis because it tops the previous high target on Wall Street for shares of Rite Aid. From a technical standpoint, RAD looks ready to break out again on the heels of the upgrade. Rite Aid has been a particularly technically obedient name in 2014, and shares' recent consolidation channel is the next big way to take advantage of that fact. Resistance at the $6.87 level is the next upside barrier that needs to get taken out before we've got a buy signal in RAD again.
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