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.

Twitter

Image placeholder title
  • Nearest Resistance: $23
  • Nearest Support: $18
  • Catalyst: Acquisition Chatter

Twitter (TWTR) - Get Report  ended last week on a high note, rallying 21% on big volume thanks to rumors that the social networking platform is in talks with Goldman Sachs (GS) - Get Report  on a possible sale. Salesforce.com (CRM) - Get Report  and Alphabet (GOOGL) - Get Report  are being pointed at as possible buyers. Twitter hasn't been a stranger to buyout rumors, but as the firm continues to struggle with execution, those rumors are growing closer to becoming reality.

From a technical standpoint, Twitter's fortunes look like they're finally changing following a prolonged downtrend. Shares bottomed back in June, and they've been bouncing their way higher in a well-defined uptrend ever since, gapping up to the top of their channel with Friday's big gains. As long as Twitter stays in that uptrend, it remains a "buy-the-dips stock."

U.S. Oil Fund

Image placeholder title
  • Nearest Resistance: $13
  • Nearest Support: $10
  • Catalyst: Crude Prices

The U.S. Oil Fund (USO) - Get Report  was one of the most actively traded issues on the NYSE to end last week, correcting 3.2% Friday following a midday capitulation in crude prices.

USO is the easiest way for retail investors to get exposure to crude oil prices, and that makes it a perennially actively traded stock. Long term, USO is holding onto its uptrend, riding trend line support for much of September. The next bounce off of that support line looks like an attractive buying opportunity from a risk/reward standpoint.

Advanced Micro Devices

Image placeholder title
  • Nearest Resistance: $8
  • Nearest Support: $6
  • Catalyst: Note Tender

Advanced Micro Devices (AMD) - Get Report  rallied 2.8% on big volume Friday, boosted by the early results of its cash tender offers for some of its outstanding debt. AMD used proceeds from its share offering at the start of the year to capitalize on the massive 2016 rally in shares, with plans to cut its debt obligations.

While the share offering initially caused AMD to violate its uptrend, shares are reestablishing a new trend line in September, indicating that a test of prior highs could likely be in the cards for shareholders. If you decide to buy AMD here, it makes sense to park a protective stop on the other side of $6 support.

Facebook

Image placeholder title
  • Nearest Resistance: $137.50
  • Nearest Support: $121
  • Catalyst: Inflated Video Metrics

Facebook (FB) - Get Report  ended the week slightly lower, drawing big trading volume following the disclosure that it had been giving advertisers inflated video view numbers. While the disclosure shook investor confidence slightly to start the trading session, analysts largely wrote off the disclosure as not material to Facebook's ads business. Shares finished the session down 1.63%.

Long-term, Facebook's technical trajectory remains up and to the right. Shares have been in a well-defined uptrend since January, and they're still planted in the middle of that price channel heading into the new week. Investors should continue to buy on weakness.

Facebook is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio. Regarding the video-view-inflation news, Cramer and Research Director Jack Mohr wrote: "Ultimately, while this may be slightly damaging in the near term to the FB brand, we do not believe there will be a long-term impact as FB remains the prized advertising vehicle for all of the top marketers given the platform's 1.6 billion users who spend roughly an hour per day on the platform."

Bob Byrne of Real Money, TheStreet's premium site for active traders, also did a deep dive into Facebook's chart in his latest Traders' Daily Notebook. Click here to check it out.

Endo International

Image placeholder title
  • Nearest Resistance: $28
  • Nearest Support: $20
  • Catalyst: New CEO

$4.5 billion drug maker Endo International (ENDP) - Get Report  ended the week on a high note, rallying 15% after replacing its CEO. The board promoted generic and OTC drug president Paul Campanelli to the position effective immediately. Investors reacted by buying up shares, driven by hopes that a change at the top could help turn around a ship that's sold off 61% year-to-date.

Ironically, Endo's turnaround could have actually started back in May. Since then, shares have been bouncing their way higher in a well-defined uptrending channel, rallying on every successive test of trendline support. Despite the size of Friday's move, there's still more upside room in this stock before shares reach resistance up at the $28 level.

GoPro

Image placeholder title
  • Nearest Resistance: $18
  • Nearest Support: $16
  • Catalyst: Technical Setup

Action camera (and now drone) maker GoPro (GPRO) - Get Report  ended Friday's session up 6.85% on big volume, rallying as shares cracked prior highs at $16.

With that resistance level at $16 out of the way, GoPro is clear to make moves toward the high water mark shares set back in January. GoPro has been in a well-defined uptrend since May, bouncing its way higher on every test of trend line support since. And while Friday's breakout pushed this stock to the top of its price range, shares could follow through closer to $18 before starting any semblance of a correction. Long-term, GoPro remains a "buy-the-dips stock."

Encana

Image placeholder title
  • Nearest Resistance: $12
  • Nearest Support: $9
  • Catalyst: Offering

Canadian energy company Encana (ECA) - Get Report  dropped 4.2% on big volume Friday, following a $1 billion share offering. Encana sold 107 million common shares at a price of $9.35 per share, the proceeds of which the company plans on using to fund its capital program for 2017 and to use toward debt pay-downs and balance sheet flexibility.

While the dilutive nature of the offering pushed shares lower, Encana is holding up well following the close. Shares ended Friday at the bottom of the trend channel that kicked off in March, signaling the possibility for a buying opportunity on the next bounce higher.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.