Stock Quotes in this Article: AA, SLXP, TSRO

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.

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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 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. And when there's a big catalyst, there's often a trading opportunity.

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

Alcoa

Nearest Resistance: $18.50

Nearest Support: $14.50

Catalyst: Q2 Earnings

Alcoa's (AA) earnings call kicked-off earnings season for the second quarter yesterday, ushering in more than 430 earnings calls within the S&P 500 in the next 30 days alone. Alcoa is seeing a 3.4% rally on big volume this afternoon, following bullish reaction to its own numbers: excluding one-time items, Alcoa earned 18 cents per share last quarter, beating analysts' 12-cent best guess.

From a technical standpoint, Alcoa couldn't look much better than it does now. Shares of the $18 billion aluminum maker have been bouncing their way higher in a textbook uptrending channel, giving traders an optimal entry point on every successive test of trend line support. So, as AA bounces off of support for a sixth time since last November, it makes sense to be a buyer here.

Salix Pharmaceuticals

Nearest Resistance: $140

Nearest Support: $115

Catalyst: Cosmo Pharma Merger

Shares of $8.4 billion pharmaceutical firm Salix Pharmaceuticals (SLXP) are off 3.8% this afternoon, following news that the firm was merging with Italy's Cosmo Pharmaceuticals in a $2.7 billion stock deal that would allow Salix to move to Cosmo's legal domicile in Ireland. The transaction should result in lower tax rates at Salix, which is currently based in North Carolina.

From a technical standpoint, Salix looks corrective this week. Shares hit their head on resistance at $140 earlier this month, and from here a retest of support at $115 looks plausible. Wait for some semblance of support to come back into play before taking a position in SLXP.

Tesaro

Nearest Resistance: $18.50

Nearest Support: $14.50

Catalyst: CNBC Mention

Development stage oncology drug maker Tesaro (TSRO) is seeing shares move more than 5.7% higher this afternoon, boosted by a positive mention on CNBC after the bell yesterday. Tesaro was touted as a biotech name worth buying by Deutsche Bank's biotechnology director, Robyn Karnauskas, on "Fast Money." That mention is enough to move the needle on this small-cap name today.

TSRO hasn't been a particularly appealing name to own from a technical standpoint over the past year. Shares have been bouncing their way lower in a long-term wide-ranging downtrend over that stretch. But bulls could break shares above trend line resistance in the next couple of sessions, and if that does happen, then TSRO becomes a high-probability buy. I'd recommend sitting on the sidelines until the downtrend breaks.

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 the names 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 CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji