$NIO - Downward Channel still intact - Short any rally

Technical: 1st support price tart under $21. Stoch RSI and Squeeze Mod still heading lower.
Fundamental Risk: Continued production constraint, 2nd HK IPO creating further dilution, increased CAPEX from new factory, possibly an upcoming stock offering or debt offering (Nio has traditionally done an offering once every few months), delisting fears still in the air.