From a technical perspective, Innovative Industrial Properties (IIPR Quick QuoteIIPR - Free Report) is looking like an interesting pick, as it just reached a key level of support. IIPR 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, IIPR has gained 8.5%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.

Looking at IIPR's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 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 IIPR for more gains in the near future.