From a technical perspective, NIO Inc. (NIO Quick QuoteNIO - Free Report) is looking like an interesting pick, as it just reached a key level of support. NIO recently overtook the 200-day moving average, and this suggests a long-term bullish trend.

The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.

Shares of NIO have been moving higher over the past four weeks, up 16.7%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that NIO could be poised for a continued surge.

Looking at NIO's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, 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 NIO for more gains in the near future.