Roku (ROKU Quick QuoteROKU - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ROKU crossed above the 20-day moving average, suggesting a short-term bullish trend.

The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

Shares of ROKU have been moving higher over the past four weeks, up 11%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that ROKU could be poised for a continued surge.

Once investors consider ROKU's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 1 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

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