Palo Alto Networks (PANW Quick QuotePANW - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, PANW broke through the 20-day moving average, which suggests a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

Shares of PANW have been moving higher over the past four weeks, up 7.1%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that PANW could be poised for a continued surge.

Looking at PANW's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 16 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

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