PHM - Long after wedge breakout

After a 5 wave rally, the stock has corrected in a three-wave pattern. The correction has retraced 78.6% of the 35.03-47.19 rally and prices are rising again, breaking outside the wedge that has been forming since end of July. My take profit comes in at which the rally from the lows will be equal to the previous rally around 50.5 My stop is below the recent lows at 36.50