After reaching an important support level, Sky Harbour Group Corporation (SKYH Quick QuoteSKYH - Free Report) could be a good stock pick from a technical perspective. SKYH recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.

Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum to higher prices.

A golden cross contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.

Shares of SKYH have been moving higher over the past four weeks, up 9.3%. Plus, the company is currently a #3 (Hold) on the Zacks Rank, suggesting that SKYH could be poised for a breakout.

The bullish case only gets stronger once investors take into account SKYH's positive earnings outlook for the current quarter. There have been 1 upward revision compared to none lower over the past 60 days, and the Zacks 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 SKYH for more gains in the near future.