I Keep wondering how come POW changed from ‘ready for a BO’ to...

I Keep wondering how come POW changed from ‘ready for a BO’ to ‘drop back to the start line’. I guessed big boys were fighting.

Well, finally, the BR proved my guess. They are changing hands, Pershn, Stateone and others are selling, while 239’s buying. Imho, the good news is that we have 239 on board. The bad news is POW may take longer for a real BO, could be several weeks. Because 239’s cost is quite high, and have to scare some retailers and other big boys off, and buy more at a lower price.

Last three times’ spike on 15/1, 2/2, and 12/2 dates respectively, highlighted on the following chart.



15/1, 239 didn’t join us yet, and that day was pushed by other guys.


2/2, 239 started to buy in.


12/2, 239 continued buying.



21/2, while others were scared to run out, 239 confidently rushed in.



From TA’s perspective, POW is still in a corrective wave and needs to back above the uptrend line on Monday, otherwise, imho might be drop further.