Square is on a tear. One technician sees an even more bullish pattern forming.
div > div.group > p:first-child"> The payment services company has rocketed 40 percent higher just this year, and is up a head-spinning 765 percent from its initial public offering price in late 2015.
"There's room to run here, and what I'm watching most closely is you have the 50-day moving average sneaking up on the 200. Looks like it's going to cross over and give you the golden cross and provide further bullish momentum," Baruch said Wednesday on CNBC's"Trading Nation." "What stands out most is the ascending triangle, which it is trying to break out above," said Baruch."The close above there is also very bullish."
"A majority of the flow has been call buyers, but I actually think a lot of these call buyers are those that are afraid to come to the party too late, don't want that downside exposure, but certainly don't want to miss out, to Bill's point, on a breakout on the upside here," Gilbert said on"Trading Nation" on Wednesday.
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