$NIO - Bear flags INTACT with $22 first Price Target

Nio is in a continual downtrend, making lower highs lower lows with new bear flags setting. Technical pointing more selling pressure. There is a gap at around 22-23 level. With possible delisting with SEC shortening the timeframe for chinese stock listing and Evergrande crisis, Nio looks to have further downside. Chinese banks are taking major financial hit due to Evergrande in Nio and many automakers reply on. This will cause a ripple effect with senior notes being exercised and liquidating Nio bonds.