Square shares are breaking out of the box this month.
The fintech stock has added 14% in January, tracking for its best month since June.
However, Craig Johnson, chief market technician at Piper Sandler, needs to see the stock clear one key technical level to fully get behind the rally.
"The chart does look very bullish and on a weekly chart, if you unpack that, this has been a symmetrical triangle in the making for the past year," Johnson said Friday on CNBC's "Trading Nation." "If you measure that out on an objective it would suggest you can see it move up toward around $74 to $75. So, definitely a buyer here based upon the charts."
In emailed comments, he added that a close above $74 would "validate a topside breakout." It broke sharply below $75 in August after its June-ended quarterly report. It has not topped $74 since then.
Michael Binger, president of Gradient Investments, is bullish on the entire fintech space.
"We think this wave of paper currency to digital payments will continue and it'll expand around the globe and it's just a good space to be in," Binger said during the same segment.
Two names have piqued his interest, in particular — Square and its peer PayPal.
"PayPal has been a relative underperformer in the space. We think they're going to have a good quarter. Their historical PayPal platform should do well. But more interesting to me is Venmo and that's their peer-to-peer [platform]," Binger said.
PayPal has added 11% over the past three months, lagging Square, American Express, Visa and Mastercard. The company is slated to report earnings Wednesday.
Binger is also looking toward Square's quarter when it reports Feb. 26. He said the stock could easily gain 10% on an earnings beat.
Disclosure: Gradient holds PayPal and Square.