From a technical perspective, ASML (ASML Quick QuoteASML - Free Report) is looking like an interesting pick, as it just reached a key level of support. ASML recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.

The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

Shares of ASML have been moving higher over the past four weeks, up 7.1%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that ASML could be poised for a continued surge.

The bullish case only gets stronger once investors take into account ASML's positive earnings estimate revisions. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on ASML for more gains in the near future.