After reaching an important support level, BJ's Wholesale Club (BJ Quick QuoteBJ - Free Report) could be a good stock pick from a technical perspective. BJ surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

Over the past four weeks, BJ has gained 6.9%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.

The bullish case solidifies once investors consider BJ's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.

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