For Juno Therapeutics $JUNO, price began a bearish correction at the end of 2017, which was a bullish year as we can see on the daily chart.JUNO Daily Chart(click to enlarge)Head and Shoulders:- First of all, let's review the price top after JUNO tagged $63.45 per share back in November. - Notice the Head and Shoulders pattern and the subsequent dip.- The dip stalled at $42.50 and bounced up but found resistance at $50.00.Flag Breakout:- The rally from $42.50 to $50.00 was in a flag pattern, which is a mini-channel. The 1/16 price action broke below this channel support.- This is a bearish continuation breakout for the short-term, and puts pressure on the $42.50 pivot. - We should anticipate a dip towards the $40-$40.20 level.- Below that the $35 area is another key level to monitor for support.- The market might also be eyeing the 37 level, which is close to where the 200-day simple moving average resides at the moment.