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.

Apple

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  • Nearest Resistance: $120
  • Nearest Support: $107.50
  • Catalyst: Technical Setup

Meanwhile, Apple (AAPL) - Get Report  has been a success shorty in 2016. After showing traders a technical reversal pattern at the end of February, Apple has been in breakout mode, rallying up through a potential stumbling-point at $107.50 in today's session. Now, Apple is moving up through $110 this afternoon, charging 2% higher on big volume as of this writing.

From a technical standpoint, Apple's move through $107.50 means that shares are clear to keep on moving up to a prior resistance level at $120. From a risk/reward standpoint, it still looks like an attractive time to buy this technology sector giant.

Apple is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio and one of the portfolio's top two value picks. Cramer and Research Director Jack Mohr wrote recently: 

"For Apple, the stock has dropped nearly $30 in nine months as a result of temporary weakness in iPhone sales (mostly related to the December and March quarters). We consider this a temporary distraction, rather than a reflection of any structural crack in the business model. In fact, we believe the market is discounting the company's expanding ecosystem, with a $30 billion/year services business, new product categories (i.e. Watch), partnerships (HealthKit, HomeKit, CarPlay) and future opportunities (TV and autos), providing Apple with a path towards double-digit annual sales growth and 15-20% annual EPS growth long term."

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Ericsson

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  • Nearest Resistance: $10.50
  • Nearest Support: $9
  • Catalyst: Technical Setup

Swedish communications tech firm Ericsson (ERIC) - Get Report  is up 3% on big volume this afternoon, breaking higher for technical reasons as this stock extends its change in trend with multi-month highs. Ericsson had spent much of the last year selling off, bouncing its way lower in a well-defined downtrend. But that downtrend finally broke this month, with shares' push above the red line on the chart above.

From here, higher ground looks likely for Ericsson. If you decide to be a buyer, it makes sense to park a protective stop on the other side of $9 support.

Gerdau

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  • Nearest Resistance: N/A
  • Nearest Support: $1.80
  • Catalyst: Analyst Upgrade

Brazilian rolled steel producer Gerdau (GGB) - Get Report  is seeing a double-digit rally this afternoon, up more than 11% following an analyst upgrade from Bank of America Merrill Lynch that raised Gerdau to a buy rating. That's a big change in Wall Street's stance on Gerdau; BAML had rated this stock at underperform until today.

Technically speaking, today's breakout above $1.80 is significant. That level had been a long-term price ceiling for shares since the end of last summer, signaling the fact that this stock could have a lot higher to run in the intermediate-term.

Disclosure: This article is commentary by an independent contributor. At the time of publication, the author was long AAPL.