Axcelis Technologies (ACLS Quick QuoteACLS - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, ACLS broke through the 20-day moving average, which suggests a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides 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.

ACLS could be on the verge of another rally after moving 5.7% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case only gets stronger once investors take into account ACLS'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 ACLS for more gains in the near future.