4 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 .
>>4 Reasons to Buy Stocks in 2013 BlackBerry
Nearest Resistance: $17
Nearest Support: $13
Catalyst: Technical Setup
BlackBerry (BBRY) seems to be a perennial player on our list of most active stocks -- especially lately. Today, shares are rallying 5%, bouncing after four consecutive days of selling. The big BBRY shakeup from earlier this month -- a ticker change and new product announcement -- is the reason for the elevated trading activity.
Despite buying today, BBRY still looks "toppy." While shares are staging a bounce off of a nearby support level at $13, lower swing highs suggest that sellers are getting increasingly concerned about taking gains while they can. If shares keep it up, a drop below $13 is an actionable signal to sell or short shares. US Airways
Nearest Resistance: $14
Nearest Support: $13
Catalyst: American Airlines Merger
It's been a stellar year for US Airways (LCC) . Shares of the legacy carrier have climbed by more than 50% in the last 12 months, buoyed by newfound strength in the airline business. But that trajectory is getting threatened today after the firm announced a merger with bankrupt AMR (AAMRQ), the parent company of American Airlines.