After reaching an important support level, Ollie's Bargain Outlet (OLLI Quick QuoteOLLI - Free Report) could be a good stock pick from a technical perspective. OLLI surpassed resistance at the 20-day moving average, suggesting 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.

OLLI could be on the verge of another rally after moving 6.2% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Looking at OLLI's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 4 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Investors may want to watch OLLI for more gains in the near future given the company's key technical level and positive earnings estimate revisions.