Zscaler (ZS Quick QuoteZS - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ZS 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.

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, ZS has gained 20.8%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.

Once investors consider ZS's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 13 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

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