From a technical perspective, Emerson Electric (EMR Quick QuoteEMR - Free Report) is looking like an interesting pick, as it just reached a key level of support. EMR recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average, which is one of three major moving averages, is widely used by traders and analysts to establish support and resistance levels for a range of securities. Because it's the first sign of an up or down trend, the 50-day is considered to be more important.

EMR has rallied 5.3% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests EMR could be on the verge of another move higher.

The bullish case solidifies once investors consider EMR's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, while the consensus estimate has increased too.

With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on EMR for more gains in the near future.