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.

QEP Resources

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  • Nearest Resistance: $11.50
  • Nearest Support: $10
  • Catalyst: Secondary Offering

Small-cap oil and gas firm QEP Resources (QEP) - Get Report  is one of the most heavily traded stocks on the NYSE this afternoon, seeing big volume thanks to a secondary share offering that's pushing shares 7% lower in today's session. QEP priced 33 million shares at $10 this morning, upsizing its initial 30 million-share offer to take advantage of market demand. The secondary is pushing QEP down to test key support at that $10 price tag.

From a technical standpoint, $10 is an important level to watch. If it gets violated in March, then this energy stock could find itself moving materially lower thanks to a descending triangle pattern that's been forming since the start of February.

Chesapeake Energy

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  • Nearest Resistance: $3
  • Nearest Support: $2
  • Catalyst: Technical Setup

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Small-cap energy company Chesapeake Energy (CHK) - Get Report  is another big-volume mover this afternoon for technical reasons.

Shares of Chesapeake have been in a well-defined downtrend since last fall, and as this stock ricochets back and forth in that downtrend, shares are seeing substantial trading volume. With shares hovering in the top end of their range, a retracement looks likely in March.

Valeant Pharmaceuticals

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  • Nearest Resistance: $120
  • Nearest Support: $72
  • Catalyst: Withdrawn Forecast, CEO Return

Valeant Pharmaceuticals (VRX)  is down almost 8% on big volume this afternoon, reacting to the firm's decision to withdraw its financial forecasts and delay releasing fourth quarter results, as CEO Michael Pearson returns from medical leave. Valeant has been selling off for the last six months, with shares shedding nearly 70% of their market value over that stretch.

From a technical standpoint, Valeant is consolidating in a wide trading range between resistance up at $120 and support down at $72. Shares are testing the floor of that range in today's session. If $72 gets violated, look out below.

Icici Bank

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  • Nearest Resistance: $5.75
  • Nearest Support: $5
  • Catalyst: Technical Setup

Indian banking stock Icici Bank (IBN) - Get Report  is enjoying a big-volume relief rally this afternoon, adding 7% to its market value as of this writing. Ultimately, today's upside is a drop in the bucket compared with the selloff that shares have endured over the trailing year. Since this time in 2015, Icici Bank has seen its market cap cut in half.

Shares remain in a parabolic downtrend today. Until this big foreign bank breaks out of that downtrend, it still makes sense to avoid shares.

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