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

The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.

Like other SMAs, 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 EOG have been moving higher over the past four weeks, up 6.4%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that EOG could be poised for a continued surge.

Once investors consider EOG's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 10 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

Investors may want to watch EOG for more gains in the near future given the company's key technical level and positive earnings estimate revisions.