4 Big Tech Stocks on Traders' Radars

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.

Without further ado, here's a look at today's stocks.

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SunEdison

Nearest Resistance: $24

Nearest Support: $19

Catalyst: Acquisition Rumors

Shares of solar company SunEdison (SUNE) ended Wednesday's session up 5%, boosted higher following rumors that the firm is a potential acquisition target. Those rumors pegged General Electric (GE) as a potential suitor, but shares gave back some of their gains midday following comments from GE that it wasn't in talks to acquire SUNE. The denial didn't stop the firm from booking big gains on the day, however.

Some of that willingness to buy SunEdison comes from this stock's technical picture right now. SUNE has been bouncing its way higher in a well-defined uptrending channel since March, and shares are testing trend line support for a fourth time this week. For that reason, this looks like a good spot to start scaling into a SUNE position. Just keep a protective stop on the other side of the 200-day moving average.

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Micron Technology

Nearest Resistance: $35

Nearest Support: $30

Catalyst: Technical Setup

Micron Technology (MU) saw a 3.5% pop for technical reasons on Wednesday, rebounding following a sector-wide tech selloff that's dragged this flash memory maker lower since the middle of the summer. But zoom out longer-term, and MU is still very much a "buy-the-dips stock." The good news for longs is that shares are showing traders another key dip this week.

Now looks like a good time to scale into a position in MU, but risk-averse traders should park a protective stop below $30 support.

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Marvell Technology Group

Nearest Resistance: $14.25

Nearest Support: $13.30

Catalyst: Analyst Upgrade

Marvell Technology Group (MRVL) is another semiconductor stock that's seeing high-volume upside this week, in this case thanks to an analyst upgrade on Wednesday. JMP Securities raised Marvell from market underperform to market perform in hopes that a bigger 4G LTE adoption market in China will drive sales growth in the year ahead.

Shares have been consolidating in between $14.25 resistance and support down at $13.30 for the last month and change now. MRVL is missing a compelling buy signal until that $14.25 level gets taken out by buyers.

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EMC

Nearest Resistance: $30

Nearest Support: $29.25

Catalyst: Strategic Alternatives

Tech name EMC (EMC) is seeing big volume this week after Tuesday's announcement that the firm was planning on pursuing "strategic alternatives," a buzzword that means the firm is exploring selling itself off or merging to unlock value for shareholders. Shares dipped Wednesday following news that protracted potential merger talks with Hewlett-Packard (HPQ) had ended.

But while that opportunity may be off the table, the technicals in EMC look stellar right now. Shares are forming a bullish ascending triangle setup with a breakout level up at $30 resistance. Put simply, if EMC can push above $30, it's a buy.

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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 names 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