From a technical perspective, Carvana (CVNA Quick QuoteCVNA - Free Report) is looking like an interesting pick, as it just reached a key level of support. CVNA recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Like other SMAs, 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.

Over the past four weeks, CVNA has gained 17.1%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case solidifies once investors consider CVNA's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 6 higher, while the consensus estimate has increased too.

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