It is difficult to say without seeing the result. You can post a (small) version of the output here.
Steps to try are:
Click the 'straighten' button in the preview, this tries to equalise the roll of all the photos in the project - which normally gives good results.
Simply drag the panorama around the canvas in the preview until it looks right, this will correct a 'wavy' panorama.
Otherwise it might be caused by 'bad' control points, or an incorrect angle of view for the input photos. If this is the case you will also see lots of stitching errors and visible seams.
You can try adding some vertical control points and then re-optimise (horizontal control points are not much use except in rectilinear output projection). Choose vertical features like the edges of walls or windows; reflections of features in still water also make for perfect vertical control points.
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Bruno