From a technical perspective, Editas Medicine (EDIT Quick QuoteEDIT - Free Report) is looking like an interesting pick, as it just reached a key level of support. EDIT recently overtook the 50-day moving average, and this suggests 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.

Over the past four weeks, EDIT has gained 7.9%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.

Once investors consider EDIT'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 5 higher, and the consensus estimate has increased as well.

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