Urban Outfitters (URBN Quick QuoteURBN - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, URBN broke out above the 50-day moving average, suggesting a short-term bullish trend.

The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend.

URBN could be on the verge of another rally after moving 5.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

The bullish case only gets stronger once investors take into account URBN's positive earnings estimate revisions. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on URBN for more gains in the near future.