After reaching an important support level, Urban Outfitters (URBN Quick QuoteURBN - Free Report) could be a good stock pick from a technical perspective. URBN surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.

Over the past four weeks, URBN has gained 17%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

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.

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