ImmunoGen reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, IMGN broke through the 20-day moving average, which suggests a short-term bullish trend.

The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows 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.

IMGN could be on the verge of another rally after moving 5.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case only gets stronger once investors take into account IMGN's positive earnings estimate revisions. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on IMGN for more gains in the near future.