This document provides a daily market summary and analysis of stocks on the Qatar stock exchange. It discusses the performance of the QSE Index, notable stocks, and market indicators. For the QSE Index, it notes the index reached resistance at 11,500 points but failed to sustain above that level. It will need to break above 11,500 to confirm a short-term bullish move, otherwise the index may drop from current levels. Notable stocks QNNS and NLCS are analyzed, with expected support and resistance levels provided. Market indicators such as trading volume and breadth are also summarized.

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Daily Technical Trader – Qatar
Monday, 30 March 2015
Stocks Covered Today
Ticker Price Target
QNNS 98.50 95.60
NLCS 20.90 20.10
QSE Index
Level % Ch. Vol. (mn)
Last 11,488.41 0.7 9.3
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 11,500 11,600 11,700
Support 11,450 11,350 11,200
QSE Index Commentary
Overview:
The QSE Index reached the expected
level of 11,500 points but could not
sustain its position above it. It is important
to break above that level to confirm we
have a bullish move in the short-term.
Otherwise, the Index may drop from these
levels because it reached the upper
boundary of the short-term downtrend
channel (denoted in red).
Expected Resistance Level: 11,500
Expected Support Level: 11,350
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 29 Mar 15 26 Mar 15 %Ch.
Value Traded (QR mn) 317.7 545.6 -41.8
Ex. Mkt. Cap. (QR bn) 620.7 617.5 0.5
Volume (mn) 7.4 12.1 -38.5
Number of Trans. 3,571 7,649 -53.3
Companies Traded 40 41 -2.4
Market Breadth 27:11 9:30 –
QE Indices
Market Indices Close 1D% RSI
Total Return 17,775.10 0.7 38.9
All Share Index 3,065.82 0.6 37.4
Banks 3,116.69 0.3 39.8
Industrials 3,741.46 0.7 33.6
Transportation 2,380.61 -0.7 35.2
Real Estate 2,345.06 2.0 44.7
Insurance 4,117.37 1.2 52.9
Telecoms 1,310.33 0.1 35.7
Consumer 6,804.18 -0.2 29.4
Al Rayan Islamic 4,188.96 0.5 40.0
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QFLS 176.20 -1.3 22.1
UDCD 20.97 -0.7 25.1
CBQK 56.60 -0.4 26.7
QGTS 22.30 0.5 28.6
IQCD 132.60 0.3 28.7
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QNNS
Price % Ch. Volume
Last 98.50 -1.20 54,525
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 100.00 102.00 103.70
Support 98.50 97.30 95.60
Commentary
Overview:
The name stabilized over the past 5
sessions, creating a price base. It is
important for the stock to remain above
QR98.50 to maintain strength on the
name. That been said, we expect that it
might not be strong enough to hold its
ground and the drop may continue.
Expected Price Retreat: QR95.60
A break below QR98.00 triggers the sell
idea.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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NLCS
Price % Ch. Volume
Last 20.90 0.97 1,379,901
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 21.20 22.10 22.80
Support 20.70 20.10 19.10
Commentary
Overview:
The name is struggling to break above the
medium-term downtrend line. The name
created a congestion area that started
from the beginning of the year which is
acting as a strong resistance in addition to
the implied resistance stemmed from the
downtrend line. The MACD is below the
zero line on the daily chart and it is turning
down on the hourly chart; both indicate
bearish momentum is still intact.
Expected Price Retreat: QR20.10 –
QR19.10
A break below QR20.70 triggers the sell
recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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Intraday Fibonacci Support and Resistance Levels Daily Moving Averages
Support Levels Resistance Levels
Ticker Close 3
rd
2
nd
1
st
Pivot 1
st
2
nd
3
rd
50 SMA 100 SMA 200 SMA
QSE Index 11,488.41 11,287.11 11,354.18 11,395.61 11,462.68 11,529.75 11,571.18 11,638.25 12,106.41 12,412.79 12,846.05
Total Return 17,775.10 17,463.65 17,567.41 17,631.52 17,735.29 17,839.05 17,903.16 18,006.93 18,320.64 18,645.59 19,225.59
All Share 3,065.82 3,019.09 3,034.81 3,044.52 3,060.25 3,075.97 3,085.68 3,101.41 3,160.54 3,200.20 3,279.67
Al Rayan Islamic 4,188.96 4,129.55 4,149.92 4,162.50 4,182.86 4,203.23 4,215.81 4,236.17 4,271.44 4,269.73 4,377.49
Banks & Financials Services
MARK 46.70 44.53 45.26 45.71 46.43 47.16 47.61 48.33 46.75 46.64 50.33
CBQK 56.60 55.87 56.17 56.36 56.67 56.97 57.16 57.47 61.78 62.71 62.80
DHBK 49.80 49.07 49.30 49.44 49.67 49.90 50.04 50.27 55.75 56.43 57.80
QIBK 98.10 96.83 97.56 98.01 98.73 99.46 99.91 100.63 103.71 103.66 105.76
QIIK 77.80 74.60 75.56 76.15 77.10 78.06 78.65 79.60 82.86 82.49 84.24
Insurance
QATI 78.50 77.83 78.02 78.14 78.33 78.52 78.64 78.83 77.50 77.65 78.76
Consumer Goods & Services
MCGS 142.50 141.57 142.10 142.43 142.97 143.50 143.83 144.37 139.56 130.63 121.58
Industrials
IQCD 132.60 131.00 131.69 132.11 132.80 133.49 133.91 134.60 146.64 163.23 173.34
QEWS 187.50 182.50 184.37 185.53 187.40 189.27 190.43 192.30 190.93 189.12 187.72
GISS 89.50 86.17 87.31 88.02 89.17 90.31 91.02 92.17 96.91 100.36 106.43
QIGD 38.10 37.37 37.65 37.83 38.12 38.40 38.58 38.87 40.90 41.83 49.32
Real Estate
BRES 45.40 40.70 42.21 43.14 44.65 46.16 47.09 48.60 47.14 46.13 43.47
UDCD 20.97 20.54 20.70 20.80 20.95 21.11 21.21 21.36 23.76 24.27 25.91
ERES 15.38 14.23 14.57 14.79 15.14 15.48 15.70 16.05 15.69 16.16 18.33
MRDS 17.75 17.18 17.37 17.49 17.67 17.86 17.98 18.16 19.55 20.10 20.81
Telecommunication
ORDS 103.00 94.67 97.15 98.68 101.17 103.65 105.18 107.67 112.60 115.32 123.45
VFQS 17.39 17.16 17.27 17.34 17.45 17.56 17.63 17.74 16.94 16.98 18.62
Transportation
QGTS 22.30 21.70 21.93 22.07 22.30 22.53 22.67 22.90 23.89 23.57 23.69
QNNS 98.50 97.50 98.07 98.43 99.00 99.57 99.93 100.50 102.89 100.45 97.44
Source: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price

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Definitions:
Candlestick: A chart that displays the high, low, opening and closing prices for a security in a single period. The body of the candle is made up by the opening
and the closing prices, i.e., the taller the body the greater the range between these two prices and vice versa. A colored candle denotes a closing price that is
lower than the opening price, while a white candle shows the opposite. The candlestick's shadows or wicks show the period's high and low prices and how they
compare to the opening and closing price. In general, the shape of the candle will vary upon the positions of the period's high, low, opening and closing prices.
Support: A level that could cause more buyers to step in in order to prevent the security from falling or causing the security price to head higher.
Resistance: An inverse of a support level. A resistance area or level could cause more sellers to step in in order to prevent the security from rising or causing the
security price to head lower.
SMA (Simple Moving Average): Is an arithmetic average, which calculates the average price of a security over a defined number of periods and is thus
considered a lagging indicator. SMAs used in our analysis refer to closing prices. In general, SMAs serve many purposes, such as a smoothing tool, an indicative
price direction and potential support/resistance levels.
Market Breadth: Breadth indicates the number of securities that have closed higher vs. the number of decliners in a particular exchange.
MACD (Moving Average Convergence/Divergence): Is a trading indicator, which shows changes in the strength, direction, momentum and duration of a trend in
a stock's price through a collection of three time series calculated from historical closing price data.
RSI (Relative Strength Index): Is a momentum indicator that compares a security’s price gains to its losses for a predetermined number of periods (we generally
use 14 periods). The RSI attempts to point out how a security, in relative terms, is in the overbought/oversold zone. Securities with a RSI above 70 could be
considered as overbought, and below 30 could be considered as oversold.
Pattern/Formation: Is a graphical presentation of a security’s price activity over a certain period of time. Formations come in different shapes (such as, head &
shoulders, triangles, flags, and so on). They can be used to identify potential trends, reversal of trends, price targets, entry and exit points, etc.
Fibonacci Retracements: Are horizontal lines that indicate expected areas of support/resistance for a security based on a predetermined price movement. These
levels are usually indicated by Fibonacci ratios of 23.6%, 38.2%, 50.0%, 61.8% and 100% from that particular movement.
Fibonacci Pivot and Intra-day Support/Resistance: A Pivot Point is generally used to formulate expected future support/resistance levels. From the base Pivot
Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.

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Contacts:
Saugata Sarkar QNB Financial Services SPC
Head of Research Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 PO Box 24025
saugata.sarkar@qnbfs.com.qa Doha, Qatar
Sahbi Kasraoui Ahmed Al-Khoudary
Manager – HNWI Head of Sales Trading – Institutional
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa
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therefore strongly advise potential investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from sources that
QNBFS believes to be reliable, we have not independently verified such information and it may not be accurate or complete. QNBFS does not make any representations or warranties as to the accuracy
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contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume). QNBFS reserves the right to amend the
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