After reaching an important support level, Global Payments (GPN Quick QuoteGPN - Free Report) could be a good stock pick from a technical perspective. GPN surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.

GPN could be on the verge of another rally after moving 10.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case only gets stronger once investors take into account GPN's positive earnings estimate revisions. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

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