EOG Resources (EOG Quick QuoteEOG - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, EOG broke through the 200-day moving average, which suggests a long-term bullish trend.

A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.

Shares of EOG have been moving higher over the past four weeks, up 6.3%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that EOG could be poised for a continued surge.

The bullish case only gets stronger once investors take into account EOG's positive earnings estimate revisions. There have been 9 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up 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.