Palo Alto Networks (PANW Quick QuotePANW - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, PANW broke through the 20-day moving average, which suggests 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 PANW have been moving higher over the past four weeks, up 6.3%. Plus, the company is currently a Zacks Rank #1 (Strong Buy) stock, suggesting that PANW could be poised for a continued surge.

Once investors consider PANW's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 16 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.

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