Stock Quotes in this Article: ANR, WAG, FSL, TRIP

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. 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.

Freescale Semiconductor

Nearest Resistance: N/A

Nearest Support: $18.5

Catalyst: Upsized Share Offering

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Chip stock Freescale Semiconductor (FSL) is seeing big volume this afternoon thanks to news that the firm's public offering of shares has been upsized to 35 million shares priced at $18.50. While secondary offerings typically put downward pressure on shares, the upsized pricing is an indication that demand for FSL's offering was high, and that's sending a green light to investors this week. The firm plans to use the proceeds to extinguish debt. FSL is up more than 6%, breaking through to new highs on the news.

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.

If you decide to be a buyer here, I'd recommend keeping a tight stop in place.

Walgreen

Nearest Resistance: N/A

Nearest Support: $62.50

Catalyst: Technical Setup

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From a technical standpoint, things don't look much different in shares of drugstore giant Walgreen (WAG). The firm broke out hard on high volume in yesterday's session, harnessing an overall bullish day for the broad market.

Walgreen's breakout above the $61 level is a big move that indicates buyers are squarely in control of shares. So even though WAG is "correcting" somewhat in this afternoon's session, this stock looks bullish.

If you decide to be a buyer, it makes sense to keep a protective stop at the 50-day moving average.

TripAdvisor

Nearest Resistance: N/A

Nearest Support: $90

Catalyst: Q4 Earnings

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TripAdvisor (TRIP) reported earnings that matched expectations after the close yesterday, Investors were looking for earnings of 21 cents per share, and that's precisely what they got. But the in-line numbers were enough to spur a 9% rally in shares this afternoon on technical strength.

TRIP's breakout above former resistance at $90 shoved shares to new highs in today's session. That means that more upside is the high probability outcome for February.

Alpha Natural Resources

Nearest Resistance: $5.25

Nearest Support: $5

Catalyst: Q4 Earnings

 

Last up is Alpha Natural Resources (ANR), a billion-dollar coal miner that's seeing big volume today on the heels of fourth-quarter earnings. Alpha lost less money than analysts expected it to -- $1.62 per share -- but it also generated less revenue on the top side. While shares initially reacted well to the mixed earnings results, they're giving it all back as today's session progresses.

ANR's chart looked pretty rough to begin with, but today's selling is throwing chances that we'll see an intermediate bottom in February. Unless shares can tackle $5.25 resistance in the next session or two, expect a retest of $5 support as a best-case scenario.

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 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