From a technical perspective, Arvinas, Inc. (ARVN Quick QuoteARVN - Free Report) is looking like an interesting pick, as it just reached a key level of support. ARVN's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.

This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.

ARVN could be on the verge of a breakout after moving 74.4% higher over the last four weeks. Plus, the company is currently a #2 (Buy) on the Zacks Rank.

Once investors consider ARVN's positive earnings outlook for the current quarter, the bullish case only solidifies. No earnings estimate has gone lower in the past two months compared to 10 revisions higher, and the Zacks Consensus Estimate has increased as well.

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