The hosts made the perfect start when Bakary Sako gave them a 12th-minute lead, but Lawrie Wilson earned Charlton a share of the spoils with a 58th-minute equaliser.
They could even have won it in the last minute when Rob Hulse headed just wide and manager Powell said: "I have got to say Wolves were very good in the first period and we needed half-time.
"But I felt we were a lot better and sharper and there was more tempo to our play in the second period and we deservedly got the goal.
"Then we had the match-winning header and I was expecting the ball to be in the back of the net. But Rob was excellent. He was very selfless. It is a lonely role playing up front on your own at times.
"Sadly he just couldn't the goal that would have given us the three points. But we are new to the league and when you go to Leeds United and get a point
that maybe you should have turned into three, and then do the same at Wolves, you kind of think it is going against you.
"But that is where we have to learn quickly about being clinical when those chances come.
"But I have got to be pleased with the character and they way that they turned it around in the second period because Wolves were the better team in the first half.
"Feeling disappointed at not getting three points at a side who were in the Premier League last season when we were in League One shows that we are moving in the right direction."
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