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.

Bank of America

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  • Nearest Resistance: $16.25
  • Nearest Support: $15.50
  • Catalyst: CEO Vote

Up first is big banking stock Bank of America(BAC) - Get Report , a stock that's getting extra attention this afternoon following yesterday's key shareholder vote on whether to keep Brian Moynihan in his role as chairman and CEO. Moynihan passed the vote, and shares are seeing a small rebound in today's session.

From a technical standpoint, Bank of America has been coiling in a symmetrical triangle pattern since the end of last month. That coil has been creating a volatility squeeze in BofA, but the price pattern is still in the early stages at this point. Look for an exit from that symmetrical triangle to signal Bank of America's next big move.

First Niagara Financial

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  • Nearest Resistance: $16.50
  • Nearest Support: $9
  • Catalyst: Sale Rumors

Reports that another banking stock, mid-cap regional bank First Niagara Financial (FNFG) , is exploring a potential sale are spurring buying in today's session. Shares of First Niagara are up 12.8% this afternoon, moving up to new 52-week highs after the first rumors hit that the firm had hired JPMorgan Chase(JPM) - Get Report as an advisor on a sale deal.

Technically speaking, First Niagara has been in stellar shape all year long, bouncing its way higher in a well-defined uptrend going back to last fall. While today's big gap higher is a good sign, shares are still in the same price channel that they've been in all year long here.

It's a little early to call today's move a buy signal. Shares could move back down in to the bottom of the channel without changing anything on a technical basis.

Fiat Chrysler Automobiles

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  • Nearest Resistance: $15
  • Nearest Support: $13
  • Catalyst: Technical Setup

It's been an active week for automotive stocks, following Volkswagen AG's (VLKAY) admission that it used defeat devices  to trick emissions testing equipment.

But at Fiat Chrysler Automobiles(FCAU) - Get Report , the driving force behind the price action is technical. Shares have been in a downtrend for the majority of 2015, and today's 2% bounce is coming as shares test the bottom of their price channel.

While Fiat could have higher ground in its future, the long-term trend is still pointing lower. That's good reason to be skeptical of upside here.

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