From a technical perspective, Lennar (LEN Quick QuoteLEN - Free Report) is looking like an interesting pick, as it just reached a key level of support. LEN 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.

LEN could be on the verge of another rally after moving 6.7% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Once investors consider LEN'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 3 higher, and the consensus estimate has increased as well.

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