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

One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.

CEG has rallied 17.7% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests CEG could be on the verge of another move higher.

The bullish case solidifies once investors consider CEG's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 2 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 CEG for more gains in the near future.