3 Big Tech Stocks to Trade (or Not)
7 Hot Stocks to Trade (or Not)
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.
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.
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 .
>>5 Rocket Stocks to Buy This Week Research in Motion
Nearest Resistance: $18
Nearest Support: $14
Catalyst: BlackBerry 10 Release
Well, that was fun while it lasted. Shares of Research in Motion (RIMM) started up this morning, only to fall like a rock following the release of the BlackBerry 10 today. RIMM has been one of the most volatile stocks on the Nasdaq for the last several months, but its bottoming price action as attracted more than a few traders as shares made leaps and bounds higher. Now, the question is whether the upside is over.
There's no question that RIMM looks "toppy" right now. Shares hit hard resistance at $18, reversing lower for a test of support at $14 this week. At a glance, this stock looks like it could be in the early stages of a head and shoulders top pattern, but with a neckline at $11, the stock would need to fall another 25% before the actual sell signal came through. Instead, investors should look to sell on a break below RIMM's nearest support level at $14. Facebook