Livent reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, LTHM broke through the 200-day moving average, which suggests a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance level.

Shares of LTHM have been moving higher over the past four weeks, up 11.4%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that LTHM could be poised for a continued surge.

The bullish case solidifies once investors consider LTHM's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 higher, while the consensus estimate has increased too.

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