After reaching an important support level, Calix (CALX) could be a good stock pick from a technical perspective. CALX surpassed resistance at the 20-day moving average, suggesting 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.The 20-day moving average can show signals that are similar to other SMAs as well. 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. CALX could be on the verge of another rally after moving 6.1% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.Looking at CALX's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 3 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors may want to watch CALX for more gains in the near future given the company's key technical level and positive earnings estimate revisions. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Calix, Inc (CALX): Free Stock Analysis Report To read this article on Zacks.com click here.