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.


  • Nearest Resistance: $12
  • Nearest Support: $8
  • Catalyst: Lowered Rig Counts

Shares of offshore contract driller Transocean  (RIG - Get Report) struggled last week, ending things 6% lower on Friday following a survey from oil service stock Baker Hughes  (BHI)  that reported U.S. oil rig counts had fallen another 10 to 362. That softening demand for oil rig services is putting pressure on shares of Transocean.

Technically speaking, shares of Transocean are being squeezed in between a downtrending resistance level (currently up at $13), and prior support at $8. As long as the downtrend is intact, it makes sense to avoid the long-side of this stock. Likewise, if $8 support gets violated, look out below.

U.S. Oil Fund

  • Nearest Resistance: $10
  • Nearest Support: $8
  • Catalyst: Technical Setup

That pressure on oil prices is also being felt at the U.S. Oil Fund  (USO - Get Report) . USO is investors' favorite way to get exposure to oil prices in general -- and this fund found itself as one of the highest-volume issues on the NYSE Friday because of a nearly 4% selloff over the course of the session.

While Baker Hughes' rig count survey had an impact on oil prices, the bigger reason for the move in USO was technical. Shares violated newfound support at $10, after forming a near-term head and shoulders top for almost all of March. The failure at $10 makes that price level newfound resistance. It makes sense to avoid being a buyer in USO until this fund can catch a bid again.

Starwood Hotels & Resorts Worldwide

  • Nearest Resistance: $84
  • Nearest Support: $79
  • Catalyst: Acquisition Offer Withdrawal

The drama surrounding the bidding war for Starwood Hotels & Resorts Worldwide  (HOT)  came to a head last week, after the consortium of investors led by Chinese insurer Anbang dropped out of the deal. Anbang claimed it was pulling its offer due to "market considerations" --phrasing that has many on Wall Street thinking that Anbang and company couldn't come up with the cash to do the deal.

Either way, the news means that Starwood's acquisition by Marriott International  (MAR - Get Report)  has one less hurdle. Starwood shares dropped nearly 5% Friday on Anbang's withdrawn offer.


  • Nearest Resistance: $10
  • Nearest Support: $9
  • Catalyst: Technical Setup

$12 billion miner Freeport-McMoRan  (FCX - Get Report)  saw a high-volume correction of its own on Friday, shedding more than 4% of its market value during the session.

The technicals were a big driver behind Freeport's move. This stock has been forming a head and shoulders top for most of March – and while the price pattern is mostly near-term, it's still worth heeding for longer-term investors. If shares violate support at $9, Freeport could give back some of the hard won gains investors have enjoyed since shares bottomed in January.

If you own Freeport-McMoRan, consider taking some gains off the table if $9 gets busted in the week ahead.

Tesla Motors

  • Nearest Resistance: $240
  • Nearest Support: 220
  • Catalyst: Model 3 Unveiling

Tesla Motors  (TSLA - Get Report)  saw a huge-volume move to end the week, heading 3.4% higher following Thursday night's unveiling of the mass-market Model 3. The new model, which is expected to retail for a base price of $35,000 when it begins deliveries late next year, has been long-awaited by Tesla bulls and consumers. Both groups have been voting with their dollars lately; shares hit multi-month highs last week, and Tesla has already received more than 130,000 deposits for pre-orders on the Model 3.

Technically speaking, long-term resistance at $240 is an important level for Tesla to test next week. Shares attempted to break out above $240 on Friday, but shares closed just shy of that level. If Tesla can sustain a bid above $240, then investors should expect a lot more upside in this electric car stock.


  • Nearest Resistance: $8.25
  • Nearest Support: $7.25
  • Catalyst: Model 3 Unveiling

Blackberry (BBRY)  ended the week on a sour note Friday, shedding 7.5% on big volume after the troubled handset maker posted its fourth-quarter earnings results. Profits came in slightly better than expected. Excluding one-time benefits, BlackBerry lost 3 cents per share, while Wall Street was expected the firm to end the quarter nearly 10 cents in the red, on average. But a sales drop and disappointing guidance pushed shares over the edge last week.

Blackberry's technicals don't look good right now. Shares have been forming a broadening pattern, a bearish price setup that signals increasing volatility in shares. Blackberry could have further to fall before all of the sellers are shaken out. Caveat emptor.



  • Nearest Resistance: $4
  • Nearest Support: $3
  • Catalyst: Technical Setup

Mobile phone carrier Sprint (S - Get Report)  saw a 4% jump Friday on huge volume, bringing this $14 billion telco's total performance last week to an 11.8% gain.

The move was largely technical. Sprint has been bouncing its way higher in a well-defined uptrend since January, catching a bid on every test of trend line support so far. Sprint's next challenge is long-term resistance up at $4. If this stock can manage to catch a bid above that $4 line in the sand, investors should expect more sustained upside from this underdog cellular stock.

Disclosure: This article is commentary by an independent contributor. At the time of publication, portfolios managed by the author were long TSLA.