Steel Dynamics (STLD Quick QuoteSTLD - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, STLD 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.

The 20-day moving average can show signals that are similar to other SMAs as well. 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.

Shares of STLD have been moving higher over the past four weeks, up 8.1%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that STLD could be poised for a continued surge.

Once investors consider STLD'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.

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