$ESSA
weekly chart outlook (Timecycle and Important Area for Stoploss and Target)
symmetrical triangle Pattern. The symmetrical triangle pattern has a 50:50 chance of moving up or down. You have to wait for confirmation for breakout and stay at that level, but if you're confident, you can build up your position. The price is currently compressed and ready to rise (Volatility Contraction Pattern) in daily chart
Possible Buy area = 580 - 625
Fair value when this post was written at 869

Narrative being built :
- blue ammonia (Low-carbon Ammonia) , CCS/CCUS, gasification, green energy

- SMELTERS NEED HYDROGEN (A LOT)

In the modern smelting process:
Nickel HPAL, Copper, Green steel

➡ Hydrogen is used for:
reducing agent (coal/coke replacement), refining process, emission control

Problem:

Hydrogen is difficult to store & expensive

Solution:
Ammonia = the most efficient hydrogen carrier
Smelters don't need their own H₂ plants → just supply ammonia.

News
- ESSA Allocates CAPEX of Up to US$20 Million to Strengthen LPG and AMMONIA Operations in 2026

as you can see in the chart. Ammonia possible creates double bottom pattern.