Mylan (MYL - Get Report)  shares are setting up for a solid momentum trade and they belong in your portfolio now.

The generic drug specialist, which is putting up strong revenue growth numbers, is set to report second-quarter earnings after the closing bell Tuesday. Analysts are rushing to raise Mylan's earnings estimates, which suggests they've underestimated what Mylan would deliver.

In the past seven days, the average earnings estimate for the just-ended quarter have moved up by one cent to $1.14 per share. During that span, not only have estimates for the third quarter and full year moved by that same amount, next year's forecast was raised by three cents.

Why? Mylan's performance, including beating earnings estimates in three of the last four quarters. The company's Generics segment -- its bread-and-butter business -- has steadily gained market share and is expected to drive profits in the quarters ahead, thanks products such as EpiPen, which controls blood pressure and asthma treatment, Perforomist.

These drugs, combined with a sound M&A strategy, including a recent deal for Renaissance Acquisition Holdings, has Mylan on a path towards sustainable revenue and profit growth for the next 12 to 18 months. These means there is tons of growth left in these shares, despite their 12% rise over the past 30 days. And from a technical perspective, a breakout appears imminent. Take a look at the chart, courtesy of TradingView.

Even with the solid one-month gains, MYL has declined more than 7% year to date, against an almost 7% rise in the S&P 500 (SPX) and the 4% year-to-date rise in the tracking exchange-traded fund, the Health Care SPDR ETF  (XLV - Get Report) .

At around $49 per share, the stock is still below resistance at around $50.70 (red line). This is important to note because that the level where Mylan traded before it missed fourth quarter earnings and revenue estimates in February. 

Essentially, the stock's recent climb has been making up for lost ground. Assuming a beat and guidance raise, MYL should break above the resistance line on its way to its December high of around $55, yielding 10% gains.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.