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Google (Nasdaq: GOOG) shares seem to have run into a wall of aggressive sellers as the company's future earning are called into question.
Chart Courtesy of StockCharts.com
For Google it's all about advertising revenue. If the clicks don't add up, the stock falls. And that's what seems to have been happening of late.
The stock had bounced back along with the market, but ran into trouble near the 20-day moving average, the first major resistance area that it faced.
That's not too encouraging for a stock that has lost some 40% of its value since November 2007, a scant five months.
The bottom line seems to be that Google's growth days are over for now. And making matters worse, the stock is stil expensive on a valuation level, as it trades at over 30 times earnings, and a large multiple over its book value.
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