CRSP on a major weekly level. What's coming next?

Today we will take a look at CRISPR Therapeutics.

Which are the main technical elements we can see here?

a) The price is against a major Support/Resistance level, working since 2018. The price reaction on these zones tends to provide solid insight into future movements.

b) Let's assume the price bounces on the current zone; what can we expect?
- A movement towards the descending trendline around 100.00. IF that happens, that would be a take-profit level for me. Why? Because we tend to observe corrections once the price reaches a major level. You don't want to be insight a sideways movement for 100 days

c) Let's assume that the price breaks the current level and keeps falling. What can we expect?
- A movement towards the ascending trendline around 50.00. That would be the next level where I would start thinking again about bullish reversals.

d) I'm a position trader. What is the most relevant level right now to develop setups?
-If that's your case, I want to see first a breakout of the descending trendline; IF that happens, I want to see a correction of around 50 days. IF that is the case, I will be interested in trading that breakout for the long term. However, at the moment, we are far away from that situation, and I would stay away from this chart for long-term setups.


Thanks for reading! Feel free to share your view of this in the comments.