Huntsman (HUN Quick QuoteHUN - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, HUN broke out above the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.

HUN has rallied 5.1% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests HUN could be on the verge of another move higher.

The bullish case only gets stronger once investors take into account HUN's positive earnings estimate revisions. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

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