From a technical perspective, Textron (TXT Quick QuoteTXT - Free Report) is looking like an interesting pick, as it just reached a key level of support. TXT recently overtook the 200-day moving average, and this suggests 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.

Over the past four weeks, TXT has gained 16.9%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

Once investors consider TXT'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 4 higher, and the consensus estimate has increased as well.

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