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.

Alcoa

Nearest Resistance: $16.50
Nearest Support: $14
Catalyst: Analyst Downgrade

Up first today is $19 billion metals company Alcoa (AA) - Get Report. Alcoa is selling off more than 5.6% this afternoon, swatted lower by an analyst downgrade at Bank of America. BofA cut Alcoa from buy to neutral, spurring the high-volume selling at the open this morning.

Alcoa's chart has been showing some cracks lately. Shares peaked in December, and they've been making lower highs since, an indication that buyers have been losing control. AA is settling into a support range between $14 and $14.50 right now, which could act as a floor for the time being. That said, if that $14 line in the sand gets violated, look out below.

Oasis Petroleum

Nearest Resistance: $20
Nearest Support: $13.50
Catalyst: Share Offering

Small-cap energy exploration and production company Oasis Petroleum (OAS) - Get Report is seeing some big-volume trading of its own this afternoon, boosted by a 32 million share offering. The firm had initially planned on offering 25 million shares but upsized the deal, ultimately collecting gross proceeds of $409.6 million. Oasis plans on using the cash to repay debt.

Even though shares are correcting on the offering news today, OAS' chart actually looks pretty constructive here. Shares have been bouncing their way higher in an uptrend since the middle of December, catching a bid on every test of trend line support so far. With shares resting on that support line this afternoon, it makes sense to buy the bounce in OAS.

Abercrombie & Fitch

Nearest Resistance: $25
Nearest Support: $20
Catalyst: Q4 Earnings

Teen apparel stock Abercrombie & Fitch (ANF) - Get Report is down big on an earnings disappointment. The firm has shed more than 14% on big volume so far this afternoon, dragged down by same store comps that missed the mark. While analysts were expecting a 4.9% comparable sales drop, the firm actually shrank by 9%. Even though earnings of $1.15 per share were in-line with expectations, the worse-than-expected comps and a challenging retail environment this year are scaring investors.

ANF hasn't exactly looked attractive from a technical standpoint for a long time. It doesn't take an expert trader to figure out that this stock has been bouncing its way lower in a downtrend since last summer, and today's big drop keeps things within the context of that trend channel.

Buyers should avoid being tempted by a "bargain" here. The price action is still pointing lower in ANF.

-- Written by Jonas Elmerraji in Baltimore.

This author had no positions in stocks mentioned.