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 and market data 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.

And while the market is generally looking quiet this afternoon, there are some important stories emerging in a handful of the most heavily traded issues today. More importantly, those market-moving narratives are creating trading opportunities for investors who are paying attention.

So, today, we'll leverage the power of the crowd to take a look at some of the most active stocks on the market.

Jim Cramer talks about oversold retail stocks on Real Money. Get his insights or analysis with a free trial subscription.

Nokia Corp.

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  • Nearest Resistance: N/A
  • Nearest Support: $6.40
  • Catalyst: Apple Patent Resolution

Up first is $38 billion tech firm Nokia Corp. (NOK) - Get Report. Nokia is up almost 6% this afternoon, boosted after the announcement that the firm had ended its dispute over smartphone technology with Apple (AAPL) - Get Report. The new deal means that Nokia and Apple shift from rivals to partners. Nokia will receive an up-front payment from Apple, plus additional revenue over several years, according to reports. The specifics of the deal haven't been made public yet.

Tuesday's rally in shares could help to accelerate the uptrend that's propelled Nokia almost 60% higher in the last six months. Nokia has been trading in a well-defined price channel during that stretch, but Tuesday's up-move is breaking shares up above the top of that channel. That show of momentum means that Nokia is still a "buy the dips stock" right now.

Momo Inc.

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  • Nearest Resistance: $45
  • Nearest Support: $40
  • Catalyst: Q1 Earnings

Earnings are driving big volume in shares of $8 billion Chinese social network Momo Inc. (MOMO) - Get Report. Momo reported an adjusted first-quarter profit of 88 cents per share, beating the 32-cent average best guess from Wall Street by a big margin. Despite the earnings surprise, Momo has been under pressure this afternoon, kicking off the session lower before settling into just under a 2% big-volume decline later in the session.

The good news for MOMO bulls is that, even though shares are down, the firm's technical trajectory isn't being challenged here. That's because MOMO has spent all of 2017 in a well-defined uptrending channel, a price setup that's identified the high-probability range for shares to remain stuck within. The fact that MOMO's selling stopped at the bottom of the price channel is a good indication that shares are likely to bounce higher from here. The next up-leg in shares is a buy signal in this Chinese social media company.

Kosmos Energy Ltd.

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  • Nearest Resistance: N/A
  • Nearest Support: $7.25
  • Catalyst: Secondary Offering

$3 billion independent oil and gas producer Kosmos Energy Ltd. (KOS) - Get Report is down almost 7% this afternoon, selling off on big volume after the announcement that two of the firm's largest shareholders were undertaking a large share offering at a discount. The company reported Monday that Blackstone Group (BX) - Get Report and Warburg Pincus were selling a combined 40 million shares. But Kosmos is another stock that seems to be taking its selling pressure in stride Tuesday.

That's because shares of KOS actually broke out above long-term resistance at $7.25 on Friday, a bullish price move that clears the possibility of more upside ahead. Even though KOS is re-testing that $7.25 support level with today's drop, this stock's ability to hold onto that newfound support level would signal a buying opportunity. Wait and see how KOS reacts to its test of $7.25.

Take-Two Interactive Software Inc.

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  • Nearest Resistance: N/A
  • Nearest Support: $70
  • Catalyst: Q4 Earnings

Last on the list of high-volume movers today is Take-Two Interactive Software Inc. (TTWO) - Get Report, the $7.5 billion video-game publisher. Take-Two reported better-than-expected fourth-quarter numbers this morning, generated adjusted earnings of 71 cents per share -- Wall Street had been looking for a 57-cent profit from the quarter, on average. And so, despite some negative impacts from the delay of the sequel to its hit Red Dead Redemption title into the spring of 2018, shares are seeing a 4% jump Tuesday.

There isn't a lot of diversity in the charts of Tuesday's high-volume stocks: Take-Two is another clear-cut uptrending channel trade. And, like Nokia, shares are testing a breakout above the top of that price channel. The breakout to new all-time highs this afternoon is a reason to be bullish on shares right now -- buyers are clearly in control of TTWO's price action in May.

At the time of publication, author was long AAPL.