This phenomenon is indeed worth pondering. A certain project team started repurchasing during the season, and now they have launched a strategic reserve buyback. The buying momentum has continued to increase, but the price has become increasingly difficult to buy up, showing a downward trend instead.

An interesting question has emerged—since both the official team and major shareholders are continuously building positions, who is actually continuously dumping? Is it collective market pessimism? Or are there other big players operating in reverse? Or perhaps the buyback promise itself has caused market doubts, worrying that there is a reason behind every event?

From a technical perspective, buybacks are usually seen as a bullish signal, but this logic seems to fail here. The phenomenon of buying unable to support the price may hide some deep-seated market expectation discrepancies.