Lyft (LYFT Quick QuoteLYFT - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, LYFT broke through the 50-day moving average, which suggests a short-term bullish trend.

The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

Shares of LYFT have been moving higher over the past four weeks, up 5.7%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that LYFT could be poised for a continued surge.

Looking at LYFT's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the 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 LYFT for more gains in the near future.