After reaching an important support level, Oracle (ORCL Quick QuoteORCL - Free Report) could be a good stock pick from a technical perspective. ORCL surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.

ORCL could be on the verge of another rally after moving 15.7% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case solidifies once investors consider ORCL's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 1 higher, while the consensus estimate has increased too.

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