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 and market data 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.
So, 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: $70
- Nearest Support: $59
- Catalyst: Jobs Numbers
First on our list of the market's most actively-traded stocks is $172 billion banking giant Citigroup (C) . Citi is up more than 2.5% this afternoon, rallying on the heels of ADP's payroll data from February. U.S. companies hired the most in almost three years, according to the numbers, fueling speculation that additional Fed rate hikes will go as planned in 2017, a boon for banking stocks.
Citi looks attractive from a technical standpoint -- and it has for a while now. This stock's uptrend remains very much intact as we head deeper into March, and that means that it continues to make sense to "buy the dips" in Citi in the weeks ahead.