After reaching an important support level, Fifth Third Bancorp (FITB Quick QuoteFITB - Free Report) could be a good stock pick from a technical perspective. FITB surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

FITB has rallied 8.1% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests FITB could be on the verge of another move higher.

The bullish case only gets stronger once investors take into account FITB's positive earnings estimate revisions. There have been 8 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on FITB for more gains in the near future.