After reaching an important support level, Moderna (MRNA Quick QuoteMRNA - Free Report) could be a good stock pick from a technical perspective. MRNA surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

MRNA could be on the verge of another rally after moving 30.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Once investors consider MRNA's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 8 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

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