After reaching an important support level, Nvidia (NVDA Quick QuoteNVDA - Free Report) could be a good stock pick from a technical perspective. NVDA surpassed resistance at the 20-day moving average, suggesting 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.

The 20-day moving average can show signals that are similar to other SMAs as well. 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.

NVDA has rallied 7.6% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests NVDA could be on the verge of another move higher.

The bullish case solidifies once investors consider NVDA's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 15 higher, while the consensus estimate has increased too.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on NVDA for more gains in the near future.