Stock Quotes in this Article: EBAY, GOOG, GS, PPG, STT, SUN, TRP, XLNX

BALTIMORE (Stockpickr) -- Forget the traditional ways 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. While crowdsourcing has long been a popular tool for the advertising industry, it 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.


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    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 traders who want a starting point in their analysis. Today, we’ll leverage the power of the crowd to take a look at seven of the highest-trending stock searches on Google (GOOG).

    With earnings season in full swing this week, you can bet that earnings names are dominating today’s list. Here’s a look at how these most searched names are trading technically.


    Nearest Resistance: $32

    Nearest Support: $30

    Catalyst: Positive Earnings

    Shares of online auctioneer eBay (EBAY) are pushing higher today, buoyed by better-than-expected earnings for the firm’s fourth quarter. eBay earned 60 cents per share, besting the 57 cent analyst consensus on the strength of its PayPal payment processing arm.

    From a technical perspective, eBay has been consolidating for the last several weeks, locked in between resistance at $32 and support around $30. Shares tested that $32 resistance level early in today’s trading, only to reverse lower. A push above $32 would be a strong buy signal for shares.

    State Street Corp.

    Nearest Resistance: $44

    Nearest Support: $39

    Catalyst: Earnings

    Another earnings name today is State Street Corp. (STT), the $20 billion trust bank whose clients are predominantly other financial institutions. State Street reported numbers yesterday that were largely in-line with estimates, posting a 7% increase over 2010’s fourth quarter earnings. While shares gapped down hard yesterday on the news, they’re being bolstered today (along with the rest of the industry) by Bank of America’s (BAC) swing to profitability this morning.

    State Street’s bounce off of $39 support yesterday was a positive signal (it means that shares are able to catch a bid in spite of selling pressures), but yesterday’s capitulation is still a major factor that traders should be watching. If shares can make their way above $42, shareholders should feel much more comfortable about upside in this stock.


    Nearest Resistance: N/A

    Nearest Support: $33.50

    Catalyst: Positive Earnings

    Semiconductor firm Xilinx (XLNX) is pushing higher for a second day after announcing fiscal third quarter earnings numbers on Wednesday. The firm, which designs and manufactures programmable logic devices, saw its profits decline by more than 30% from last year’s numbers, but still managed out outpace Wall Street’s expectations for the quarter.

    Xilinx had been forming an ascending triangle setup for the last few months, with horizontal resistance in place at $33.50. Yesterday’s earnings numbers were the catalyst that caused shares to break out. While the breakout is slowing in today’s session, a throwback to that support level could make for another good low-risk entry in this stock.

    Goldman Sachs

    Nearest Resistance: $115

    Nearest Support: $105

    Catalyst: Positive Earnings

    No great surprise, Goldman Sachs (GS) is another financial sector stock that’s moving higher today on strong earnings from yesterday. Goldman has gotten no shortage of attention lately for its business, but more eyes should be on this stock’s chart right now.

    This morning, Goldman completed a double bottom pattern, a bullish reversal setup that’s identified by two swing lows that happen at or around the same price level. The buy signal on Goldman came when shares pushed though $105 resistance. For traders looking to take advantage of this stock’s upside momentum, I’d recommend keeping a protective stop at the 50-day moving average.

    TransCanada Pipelines

    Nearest Resistance: $44

    Nearest Support: $40

    Catalyst: Keystone XL Pipeline Rejection

    Wednesday, the Obama administration rejected TransCanada Pipelines’ (TRP) permit application to build the Keystone XL Pipeline, an extension project that would cut a 1,700 mile pipeline through the center of the country and dramatically shorten the trips that crude oil makes from Canada to the U.S. Both sides of the pipeline issue have been heated in recent months, but yesterday’s decision isn’t likely the last investors will hear of Keystone XL. That’s being reflected in shares of TransCanada right now.

    From a technical perspective, TRP isn’t particularly compelling. Shares are trading in a wide range, with resistance at $44 and support at $40. A push above the glut of supply at $44 would be a fairly strong buy signal – until that happens, it makes more sense to wait for a more meaningful catalyst in this stock.


    Nearest Resistance: N/A

    Nearest Support: $35

    Catalyst: Subsidiary Spin-Off

    Sunoco (SUN) is another energy name that’s getting attention this week. The firm completed a spin-off of its SunCoke Energy (SXC) subsidiary yesterday, handing shareholders 0.53 shares of SunCoke for every share of Sunoco they own. The corporate action also buoyed shares of Sunoco, which rallied to break out to a new 52-week high in yesterday’s trading session.

    Making new 52-week 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 take advantage of the breakout in Sunoco, I’d recommend keeping a protective stop just below shares’ $35 support level.

    PPG Industries

    Nearest Resistance: $90

    Nearest Support: $80

    Catalyst: Positive Earnings

    Last up today is PPG Industries (PPG), the $13 billion coating and chemical maker. PPG is testing $90 resistance this week after posting positive earnings surprise this morning. While shares are getting pushed lower in today’s session, PPG is still close enough to that price level to justify investors’ eyes on this stock. Wait for a breakout above $90 before taking a position in this stock.

    When that happens, the 50-day moving average is a good place to put a protective stop.

    To see these stocks in action, check out the at Most-Searched 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, based out of Baltimore, is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on