NIO - Potential buy zone?

Price currently moving at a down trend but it seems to have a good support at 42-39 area forming a double bottom. This area is also where you can find the top boundary of last year's channel which can also serve as support. If you're overall bullish on NIO, $40 might be a good buy zone. If this support does not hold, next possible support can be at the 200ema (another buy zone to average down) on the daily then 25.50 area.