After reaching an important support level, NexGen Energy (NXE Quick QuoteNXE - Free Report) could be a good stock pick from a technical perspective. NXE surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.

NXE could be on the verge of another rally after moving 23.9% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Once investors consider NXE'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 1 higher, and the consensus estimate has increased as well.

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