NIO - breaking down support tunnel!

Watch out. if it breaks down the 44.50 it can get even lower, it's hard to determinate how low it can get , after all, NIO ascended non-stop from the 14th October and there are no much visual support and resistance . I would assume it will touch 38.70 and than might bounce back up, if it breaks 38.70 it will deep even more.

It seems that the whole sector of electric cars and renewable energy is slowing down. While the chinese companies in that industry are even punished more.
The reason?
Fear of:
KNDI (Kandi technologies) a Chinese battery and electric vehicle manufacturer, tumbled due to Hindenburg claiming some of the company's reported sales are being faked. It said that more than half of sales over the past year are actually to an entity tied to the company and not to an actual customer.