Estee Lauder (EL Quick QuoteEL - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, EL crossed above the 20-day moving average, suggesting a short-term bullish trend.

The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

Shares of EL have been moving higher over the past four weeks, up 6.5%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that EL could be poised for a continued surge.

Once investors consider EL's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 4 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

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