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. >>7 Stocks Under $10 Making Big Moves 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 for traders who want a starting point in their analysis. Today, we'll leverage the power of the crowd to take a look at seven of the highest-trending stock searches on Google. With earnings season kicking into full gear this week, you can bet that earnings is a major driver of searches today. Here's a look at how these most-searched names are trading technically.
Barnes & Noble
Energy Transfer Partners
P.F. Chang's China Bistro
HologicNearest Resistance: $20 Nearest Support: $17.50 Catalyst: Earnings, Gen-Probe Purchase Last up today, medical diagnostics firm Hologic ( HOLX) is down double-digits on the week following the one-two punch of an earnings miss and an acquisition that the firm is paying a premium for. While announcing a revenue shortfall yesterday morning, the firm announced that it was buying Gen-Probe ( GPRO) at a 20% premium to the firm's value last week. Mr. Market isn't reacting well to that combination. From a technical standpoint, the news broke HOLX down below previous support at $20, a price level that had held shares up since the start of February. With this stock unable to catch a bid at previous levels and the next nearest support level still a dollar and change away, it makes sense for bargain hunters to turn their sights elsewhere right now. To see these stocks in action, check out the at Most-Searched Stocks portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
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