After reaching an important support level, Robinhood Markets, Inc. (HOOD Quick QuoteHOOD - Free Report) could be a good stock pick from a technical perspective. HOOD surpassed resistance at the 50-day moving average, suggesting 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.

Over the past four weeks, HOOD has gained 10.7%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.

Looking at HOOD's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

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