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

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

PLMR could be on the verge of another rally after moving 18% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.

Once investors consider PLMR's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 5 higher, and the consensus estimate has increased as well.

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