Planet Fitness has pulled back to the 0.618 Fib here at $56 and has held support sp far, so this is the ideal place to find support for Wave 2.
We need to see a move on this now to the upside and the first test will be a retest of the yellow trend line at $72.50, only when the price has broken out of this channel can we consider this in the Bull Case and confirm Wave 3.
Price can not break below the red line at $44, otherwise the count is invalid.