Sherwin-Williams (SHW Quick QuoteSHW - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SHW broke out above the 50-day moving average, suggesting a short-term bullish trend.

One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.

Shares of SHW have been moving higher over the past four weeks, up 7.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that SHW could be poised for a continued surge.

Once investors consider SHW'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 4 higher, and the consensus estimate has increased as well.

Investors should think about putting SHW on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.