After reaching an important support level, EOG Resources (EOG Quick QuoteEOG - Free Report) could be a good stock pick from a technical perspective. EOG surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.

Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

EOG could be on the verge of another rally after moving 6.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Once investors consider EOG's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 9 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on EOG for more gains in the near future.