After reaching an important support level, O'Reilly Automotive (ORLY Quick QuoteORLY - Free Report) could be a good stock pick from a technical perspective. ORLY surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.

A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.

ORLY has rallied 5.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests ORLY could be on the verge of another move higher.

The bullish case solidifies once investors consider ORLY's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, while the consensus estimate has increased too.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on ORLY for more gains in the near future.