Gap Inc. $GPS ended 2017 with a bullish breakout from what appears to be a price bottom. However, after failing to push above $35.50 a share, price retreated to hover above $30.00. This was largely due to overall market sentiment. From the latest news, the markets found out that the CEO of the company, Jeff Kirwan will be leaving the company. This caused GPS shares to dip during the 2/20 session. GPS Daily Chart(click to enlarge)Another Test of Bullish Breakout:- We can say that the previous dip to $30.00 showed support here, which confirmed the resolve of the previous bullish breakout.- Now, price appears to be falling back towards this area. - A bullish market should support GPS above $30, but a dip below does not necessarily mean GPS is bearish. - I think as long as price can hold above 27.15, GPS has a bullish outlook.- A break below $27 should be a sign that the 2017 breakout has been "killed". - The upside for GPS is back to the $35.50 high, and then the $40 mark. The most aggressive target in 2018 will be the 2013-2014 high around $46.60.GPS Weekly Chart(click to enlarge)