Stock Quotes in this Article: AMD, FIO, XRX

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.

>>5 Big Stocks to Trade for Big Gains

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.

>>5 Stocks Under $10 Set to Soar

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.

Advanced Micro Devices

Nearest Resistance: $4

Nearest Support: $3

Catalyst: New Product, Technical Setup

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After posting a mixed third quarter last week, chipmaker Advanced Micro Devices (AMD) is getting more eyes on it today with the announcement of the Radeon R9 290X graphics card, a product that takes aim at pricier offerings from Nvidia (NVDA). Shares of AMD are up close to 5% as I write following the press release.

Looking at the technicals, it's pretty clear that today's product announcement is more an excuse for a bounce in AMD than a reason for one. Shares have been selling off following the third quarter's earnings on Dec. 17, and the stock wasn't able to hold support at $3.25, falling down to $3 instead. AMD is still in a downtrend right now, even if it's an ugly one -- I'd recommend staying away until more buying pressure comes into play.

Fusion-IO

Nearest Resistance: $11

Nearest Support: $10

Catalyst: Earnings

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Fusion-IO (FIO) is getting absolutely shellacked today after swinging to a loss for its fiscal first quarter, reporting weak guidance, and announcing that CFO Dennis Wolf would be leaving the company. That trifecta has been enough to shove shares more than 25% lower in today's session.

There's no two ways about it -- FIO's chart is broken. This stock has spent all of 2013 in a well-defined downtrend, but today's huge gap down is causing bigger problems. $10 has been a pretty important support level, but shares are testing a break into the single-digits today. Stay away from this name right now.

Xerox

Nearest Resistance: $11

Nearest Support: $9.50

Catalyst: Outlook

>>Do You Own These Blue-Chips? Sell Them!

Xerox (XRX) is another name that's under pressure this afternoon, after announcing that the current quarter's earnings could fall short of estimates due to restructuring charges. While shares opened lower this morning, that decline has been widening out over the course of today's session. If that doesn't send a strong message to traders right now, nothing will.

XRX has been in a solid uptrend all year long, but that uptrend broke with today's selloff. That's not a "buy the dips" scenario though; it's the clearest technical sell signal there is. While there's nearby support at $9.50, I think it's a little too optimistic to think that XRX can still catch a bid there. Caveat emptor.

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

Follow Jonas on Twitter @JonasElmerraji