The Bank of New York Mellon Corporation (BK Quick QuoteBK - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, BK broke out above the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

Over the past four weeks, BK has gained 6.8%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

Once investors consider BK's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, and the consensus estimate has increased as well.

Investors should think about putting BK on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.