Bears are Losing Control Over ESS Tech (GWH), Here's Why It's a 'Buy' Now

Core Viewpoint - ESS Tech, Inc. (GWH) has shown a recent downtrend, losing 7.1% over the past week, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging to counteract selling pressure [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, where the stock opens lower, makes a new low, but then closes near its opening price, suggesting that bears may be losing control [4][5]. - Hammer candles can appear on various timeframes and are utilized by both short-term and long-term investors [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for GWH, with a 15.6% increase in the consensus EPS estimate over the last 30 days, indicating that analysts expect better earnings than previously predicted [7][8]. - GWH holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9][10].