Update: I'm changing the question to
What is the best way to exploit this idea?
(I tried but everything goes in a circle; you wind up implementing the Babylonian Method).
Let $S \gt 0$.
If one 'runs' the Babylonian Method in the usual fashion, we get a decreasing sequence that converges to $\sqrt S$. By using an inversion trick, we can get an increasing sequence with the same limit:
With seed $l_0 \gt 0$, define
$$\tag 1 l_{n+1} = \frac{2\, S\, l_n}{S + l_n^{\;2}}$$
I performed some googling trying to find this recursion, but came up empty handed. I would be surprised if it isn't already an algorithm known to numerical analysts.
What is the name of this technique?
We can combine (1) with the Babylonian method,
$$\tag 2 u_{n+1} = \frac{1}{2} \, (u_n + \frac{S}{u_n}) $$
to get convergence with built-in error bounds.
Here is a Python program implementing the proposed algorithm; it can be contrasted with the wikipedia example of the Babylonian method.
#--------*---------*---------*---------*---------*---------*---------*---------*
# Desc: Calculate square root of 125,348
#--------*---------*---------*---------*---------*---------*---------*---------*
S = 125348
u = 600 # rough estimation of an over-estimate
print('+', u)
for i in range(0,5):
if i % 2 == 0: # proess '+', an over-estimate
l = (2 * S * u) / (S + u * u)
print('-', l)
else: # proess '-', an under-estimate
u = .5 * (l + S/l)
print('+', u)
* OUTPUT *
+ 600
- 309.91700800250544
+ 357.186837334586
- 354.03137921119
+ 354.0451951246895
- 354.04519485512014
If $l_{n+1} = \frac{2\, S\, l_n}{S + l_n^{\;2}} $ then $l_{n+1} = \frac{2}{\frac{1}{l_n} + \frac{l_n}{S}} $ so $\frac1{l_{n+1}} = \frac{\frac{1}{l_n} + \frac{l_n}{S}}{2} $.
Letting $a_n = \frac1{l_n}$, $a_{n+1} = \frac{a_n + \frac{1}{Sa_n}}{2} = \frac{a_n + \frac{1/S}{a_n}}{2} $ and this is Newton's iteration for $\frac1{S} $.
So, whatever direction Newton's converges, this will converge in the opposite direction.