From a technical perspective, Kimbell Royalty (KRP Quick QuoteKRP - Free Report) is looking like an interesting pick, as it just reached a key level of support. KRP recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives 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.

Shares of KRP have been moving higher over the past four weeks, up 7.5%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that KRP could be poised for a continued surge.

The bullish case solidifies once investors consider KRP's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.

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