From a technical perspective, Covenant Logistics Group, Inc. (CVLG Quick QuoteCVLG - Free Report) is looking like an interesting pick, as it just reached a key level of support. CVLG's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

Golden crosses have three key stages that investors look out for. It starts with a downtrend in a stock's price that eventually bottoms out, followed by the stock's shorter moving average crossing over its longer moving average and triggering a trend reversal. The final stage is when a stock continues the upward climb to higher prices.

A golden cross is the opposite of a death cross, another technical event that indicates bearish price movement may be on the horizon.

Over the past four weeks, CVLG has gained 31.3%. The company currently sits at a #1 (Strong Buy) on the Zacks Rank, also indicating that the stock could be poised for a breakout.

Looking at CVLG's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 3 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.

Investors may want to watch CVLG for more gains in the near future given the company's key technical level and positive earnings estimate revisions.