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.

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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 today.

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These "most active" names are the most heavily-traded names on the market -- and often, uber-active names have some sort of a technical or fundamental catalyst driving investors' attention on shares. That's especially true now that earnings season is officially underway. And when there's a big catalyst, there's often a trading opportunity.

Without further ado, here's a look at today's stocks.

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Boston Scientific

Nearest Resistance: $7.75
Nearest Support: $7.25
Catalyst: Technical Setup

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Boston Scientific ( BSX - Get Report) is seeing significant trading volume today -- and this week, in fact -- thanks to an attractive technical setup that's been forming in shares. BSX has been consolidating sideways in a rectangle pattern for the better part of 2013, bouncing off of horizontal resistance at $7.75 and horizontal support down at $7.25. Consolidations like the one in BSX are common after large price moves because they give investors a chance to catch their breath and figure out their next moves; after the 35% rally in BSX over the last six months, this stock certainly qualifies.

Now shares are testing that $7.75 resistance level in today's session. A breakout above that price level signals this stock as a buy. When it happens, keep a tight stop in place.


Nearest Resistance: $11
Nearest Support: $9.50
Catalyst: T-Mobile Merger Drama

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Significant trading activity is getting sparked in shares of MetroPCS ( PCS) this week after some public drama has unfolded over the small-cap cell phone carrier's planned merger with T-Mobile. Despite winning regulatory approval to join forces, independent advisors and some shareholder groups are recommending against the combination that's spotlighted some of the significant value in PCS' share price.

One of the more vocal shareholders has been John Paulson, PCS' largest shareholder, who has characterized the deal terms as unfair to MetroPCS shareholders. With shares sitting just below resistance at $11, this is one merger name that could see some unexpected upside in the near-term.

Gilead Sciences

Nearest Resistance: N/A
Nearest Support: $44
Catalyst: Patent Win

Biopharmaceutical firm Gilead Sciences ( GILD - Get Report) is seeing continuation in trading today after a patent win against Idenix Pharmaceuticals ( IDIX) gave the firm the upper hand in the early stages of a fight over a hepatitis C drug. The news has sent shares of GILD pushing through to new highs this week, a bullish condition in and of itself.

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Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains - as a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses. Investors who aren't too risk-averse may want to consider buying here.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
TheStreet . Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily , and on Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.