From a technical perspective, AeroVironment (AVAV Quick QuoteAVAV - Free Report) is looking like an interesting pick, as it just reached a key level of support. AVAV recently overtook the 20-day moving average, and this suggests 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.

Like other SMAs, 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.

AVAV has rallied 9.2% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests AVAV could be on the verge of another move higher.

Once investors consider AVAV'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 AVAV for more gains in the near future.