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.
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. And when there's a big catalyst, there's often a trading opportunity.
Without further ado, here's a look at today's stocks.
Nearest Resistance: $9
Nearest Support: $7
Catalyst: Q4 Earnings Hangover
Handset maker BlackBerry (BBRY) is getting hammered 3% lower this afternoon, the aftermath of fourth-quarter earnings that missed the mark. BlackBerry reported fourth-quarter revenues of $976 million, the first sub-$1 billion quarter for the firm since 2007. Even though BBRY's 8-cent loss was far better than analysts were expecting, shares sold off on Friday, and the selling pressure is carrying through to today.
From a technical standpoint, BBRY's chart is broken. Shares had been forming a textbook head and shoulders top with a neckline at $9. That price level got violated on Friday as buying pressure disappeared from shares.
From here, more downside looks likely. $7 support could be the next stopping block for the selloff.
Nearest Resistance: $25
Nearest Support: $22
Catalyst: Technical Setup
Shares of Micron Technology (MU) - Get Report have been a momentum powerhouse over the last year, rallying more than 135% since March 2013. But that momentum has been a liability in 2014, as Mr. Market flipped a switch and started shoving momentum winners lower at the start of the month. After getting oversold, Micron is rebounding in a big way this afternoon.
MU is up more than 7% as I write, buoyed by the combination of previous support at $22, and a momentum gauge that's been reading oversold since Friday. Now looks like a good time to get into MU near support. This stock is still consolidating sideways, but if it can catch a bid above $25 resistance, then it's our cue that big momentum names are working again.
To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.
-- Written by Jonas Elmerraji in Baltimore.
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At the time of publication, author had no positions in stocks mentioned. Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation. Follow Jonas on Twitter @JonasElmerraji