From a technical perspective, Duolingo, Inc. (DUOL Quick QuoteDUOL - Free Report) is looking like an interesting pick, as it just reached a key level of support. DUOL's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.

This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.

Shares of DUOL have been moving higher over the past four weeks, up 30.1%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that DUOL could be poised for a breakout.

The bullish case solidifies once investors consider DUOL's positive earnings outlook. For the current quarter, no earnings estimate has been cut compared to 5 revisions higher in the past 60 days. The Zacks Consensus Estimate has increased too.

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