After reaching an important support level, Alliance Resource Partners, L.P. (ARLP Quick QuoteARLP - Free Report) could be a good stock pick from a technical perspective. ARLP surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives 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.

Over the past four weeks, ARLP has gained 7.5%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.

Looking at ARLP's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 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 ARLP for more gains in the near future.