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.

Without further ado, here's a look at today's stocks.

Smith & Wesson Holding

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Nearest Resistance: $12
Nearest Support: N/A
Catalyst: Q1 Earnings

Firearm maker Smith & Wesson Holding (SWHC) is down more than 13% this afternoon, swatted lower following the firm's first quarter earnings for fiscal 2015. While S&W beat EPS numbers for the quarter, lower forecasts for so-called "black rifles", which have been the firm's biggest growth driver amid recent regulatory increases, are to blame for today's drop. Now, Smith & Wesson's stock looks best avoided.

That's because this stock is technically broken. Shares fell through $12 support with today's big gap lower, and it's unclear where SWHC will be able to catch a bid next. Shares could have much further to fall before buyers regain control here.

Talisman Energy

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Nearest Resistance: $11.25
Nearest Support: $10
Catalyst: Stalled Acquisition Talks

Talisman Energy (TLM) is down 3.7% this afternoon, selling off after news came out that talks had stalled with Spanish energy firm Repsol to acquire oil and natural gas assets from the Canadian firm. Accoding to reports from the Wall Street Journal, the deal initiated in late July is still on the table, but it's at risk of falling through here.

While today's drop looks nasty, shares are still in the exact same technical trading range that they started in. The important takeaway from that is that there could be another high-probability buying opportunity in shares of TLM closer to $10. Wait for the bounce off of trendline support before taking a position.

Aruba Networks

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Nearest Resistance: $22
Nearest Support: $21
Catalyst: Q4 Earnings

Small-cap tech name Aruba Networks (ARUN) is seeing big volume on a 4% pop today, driven higher by the firm's fiscal fourth quarter earnings. Aruba Networks earned profits of 24 cents per share, beating estimates by a penny, and posting higher forecasts for next quarter's revenues. While the move higher is fading this afternoon, it's hard to argue with shares' buying pressure right now.

Aruba is pressing up against key resistance at $22 this afternoon, testing out buyers' willingness to make new highs for 2014. For now, the price ceiling at $22 remains intact; if that changes, higher ground is the high-probability setup in ARUN.

Best Buy

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Nearest Resistance: $32
Nearest Support: $30
Catalyst: Q2 Earnings

Electronics retailer Best Buy (BBY) - Get Report is in rally mode this afternoon, after reporting its second quarter earnings to Wall Street. Adjusted earnings per share came in at 44 cents for the second quarter, stomping 31-cent estimates. And while comps were lower than expected, the earnings beat and bullish forecast for next quarter is enough to send shares 5.3% this afternoon.

Technically speaking, Best Buy looks surprisingly good right now. Shares are forming a near-term inverse head and shoulders setup with a neckline at $32. A move through that $32 price level would make a pretty resounding buy signal in this retail stock.

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 the names 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 Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation. Follow Jonas on Twitter @JonasElmerraji