The two levels I am watching is the 110 level and the 90 level. If it does break the 110 level, panic might set in and we may see 90 very quickly.
What to do?
Even though Facebook crushed , they lowered expectations on mobile ad growth. Often, it is not how well a company does, in the absolute sense, but how well they do relative to expectations.
I still believe this company is a buy, but I am going to wait and see if sentiment actually turns negative and people start saying that Facebook growth is over.
I remember Apple back in 2012, they were killing quarter after quarter, you could not find a bear anywhere. Until from September 2012 to April 2013 the stock fell ~50%. I am not saying this is what will happen to Facebook , but it can happen when expectations are reset to a lower level.