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.

Quanta Services

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  • Nearest Resistance: $24¿
  • Nearest Support: N/A¿
  • Catalyst: Preliminary Q3 Earnings

Energy sector power infrastructure stock Quanta Services(PWR) - Get Report  is getting hammered on preliminary third-quarter results this afternoon, down more than 28% as I write. Quanta announced preliminary earnings in a range of 22 cents to 24 cents per share for the quarter, missing the company's prior range of 34 cents to 40 cents and the 44-cent analyst estimate by a wide margin. The worst analyst estimate on Wall Street had been calling for a 41-cent profit, so Quanta's profits are essentially half of what investors were hoping for.

From a technical standpoint, this chart has been broken for a while now. Since the end of June, shares of Quanta have violated a key trendline support level three times, and today's big violation of $24 support signals the fact that more downside has opened up from here. Caveat emptor.


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  • Nearest Resistance: $40¿
  • Nearest Support: $35¿
  • Catalyst: Pre-Earnings Positioning

Oilfield service company Halliburton(HAL) - Get Report  is drawing some selling on heavy volume this afternoon, dropping 4.6% as I write. That's thanks to an industry-wide dip today, as well as the fact that Halliburton is set to report its third quarter earnings results on Monday morning -- traders are trying to limit their exposure to earnings risk before the weekend. While that drop isn't very constructive for Halliburton bulls, the price action on the company's stock chart actually looks pretty decent here.

Since August, shares have been carving out an ascending triangle bottom, bumping their head unsuccessfully against $40 resistance three times since August. A breakout through $40, potentially on Monday's earnings results, would present a big buy signal in shares of Halliburton. Just remember to wait for $40 to get cleared before making a bet on shares – if earnings miss on Monday, we're likely to see Halliburton's "bottomy" chart get violated to the downside.

Genworth Financial

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  • Nearest Resistance: $5.25¿
  • Nearest Support: $4.50¿
  • Catalyst: CFO Departure

$2.5 billion insurer Genworth Financial(GNW) - Get Report  is down 8.2% this afternoon, selling off on news that CFO Martin Klein has resigned to take a new job elsewhere. That's bad news for Genworth. The company reported problems with the financial reporting in its long-term care unit, and Klein had been taking point in righting the ship. It's not surprising that shares are selling off considering the circumstances.

Genworth had been looking "bottomy" in the last few months, trading in a sideways consolidation range. And while shares broke out earlier this month, they're re-entering that range with today's selloff. That makes Genworth likely to remain range-bound, at least in the near-to-intermediate term.


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  • Nearest Resistance: $24¿
  • Nearest Support: N/A¿
  • Catalyst: Drug Results

Finally, shares of small-cap drug maker Cempra (CEMP)  are down more than 34% this afternoon, following the primary endpoint of an early clinical trial for the firm's antibiotic treatment. The firm announced that its solithromycin antibiotic had failed out achieve a better clinical response than an existing benchmark drug.

Technically speaking, Cempra's chart looks broken here. While Cempra had already been in a downtrend since the beginning of the summer, today's big selloff broke the bottom of that channel, opening up considerable downside risk from here. Cempra is probably going to stay best avoided for the remainder of 2015.

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