Supposedly NZ's largest listed company, FBU has lost over 70% of...

Supposedly NZ's largest listed company, FBU has lost over 70% of its value since 2016 - so hardly a stellar performer. However, the chart has a potential tradeable pattern with price having tested a resistance level twice and likely to break higher. It is coming of a low (probably the end of it's price cycle - Wave C). Price is in a technical uptrend and has been so for over 12 months as the Covid fall wasn't long enough to be called a downtrend. It has made a higher trough and made higher prices for 8 weeks in a row (last 2 weeks have been lower and this week is again higher with price having risen over 6% in 2 days. Price is currently 1 cent below making a higher peak. Someone I do some work for is in the construction finance business and is back in NZ for a few weeks. He said the property market is absolutely booming in NZ something else that is positive for FBU going forward. Anyway, I've entered a trade today (on the basis it is a better bet than the Melbourne Cup) with a target of $4.90