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.
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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. Without further ado, here's a look at today's stocks. Read More: 5 Stocks Triggering Big Breakout Trades J.C. Penney Nearest Resistance: $10
Nearest Support: $9
Catalyst: Q2 Earnings Department store retailer J.C. Penney (JCP - Get Report) fell 2.5% on big volume to end last week, dropping in the wake of the firm's second-quarter earnings numbers. Penney lost 57 cents per share, a number that was better than the 90 cent loss that analysts were expecting, but a lack of cash generation and shrinking margins from the firm's operations spooked investors enough to trigger selling Friday. From a technical standpoint, JCP still looks constructive longer term: shares have been forming a long-term inverse head and shoulders setup with a neckline level at $10 for the better part of the last year. A breakout above $10 remains a key buy signal for shares this week. Read More: 10 Stocks George Soros Is Buying