Emerson Electric (EMR Quick QuoteEMR - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, EMR broke through the 200-day moving average, which suggests a long-term bullish trend.

The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.

EMR could be on the verge of another rally after moving 19.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Once investors consider EMR's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, 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 EMR for more gains in the near future.