Oracle (ORCL Quick QuoteORCL - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ORCL broke through the 20-day moving average, which suggests a short-term bullish trend.

The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.

ORCL could be on the verge of another rally after moving 9.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Looking at ORCL's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 12 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

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