The Index started a correction and created a bearish engulfing candlestick; the correction is expected to continue. However, the Index managed to break above the downtrend channel and has been moving strongly up, which created strong support levels, especially between the 8,650 and 8,500 levels.

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Daily Technical Trader – Qatar
Tuesday, 16 January 2018
Today’s Coverage
Ticker Price Target
KCBK 13.00 14.50
QSE Index
Level % Ch. Vol. (mn)
Last 8,946.97 -2.48 11.3
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,000 9,250 9,600
Support 8,850 8,650 8,500
QSE Index Commentary
Overview:
The Index started a correction and created
a bearish engulfing candlestick; the
correction is expected to continue.
However, the Index managed to break
above the downtrend channel and has
been moving strongly up, which created
strong support levels, especially between
the 8,650 and 8,500 levels.
Expected Resistance Level: 9,000
Expected Support Level: 8,850
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 15 Jan 14 Jan %Ch.
Value Traded (QR mn) 418.8 294.8 42.1
Ex. Mkt. Cap. (QR bn) 494.4 504.4 -2.0
Volume (mn) 20.9 16.8 24.4
Number of Trans. 5,733 4,308 33.1
Companies Traded 43 41 4.9
Market Breadth 7:36 18:23 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 15,003.55 -2.5 67.6
All Share Index 2,565.91 -2.2 69.1
Banks 2,786.64 -2.0 65.7
Industrials 2,774.49 -2.5 68.6
Transportation 1,820.85 -4.9 56.3
Real Estate 2,021.88 -1.2 69.6
Insurance 3,703.14 -3.7 60.1
Telecoms 1,133.43 -1.8 61.5
Consumer Goods 5,171.18 -1.6 70.4
Al Rayan Islamic 3,570.67 -3.1 64.9
Source: Bloomberg
RSI 14 (Overbought)
Ticker Close 1D% RSI
UDCD 16.35 -2.6 77.3
QFLS 108.01 -1.8 71.8
IQCD 106.60 -2.2 71.3
DHBK 30.98 -0.4 70.2
Source: Bloomberg
RSI 14 (Oversold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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AL KHALIJ COMMERCIAL BANK (KCBK)
Price % Ch. Volume
Last 13.49 0.30 1,585,572
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 13.60 14.50 15.40
Support 13.00 12.00 11.00
Commentary
Overview:
Despite the possible correction on the
Index, here is a buy idea on a retail driven
name, KCBK. The price managed to break
above all moving averages then corrected
above the 200SMA. Due to the possible
selling pressure, the below condition
needs to be met before activating the
trade idea.
Expected Target Price: QR14.50 – QR15.40
A price breakout above QR13.60 triggers
the buy idea.
Suggested Stop-Loss Price: QR13.00
(Daily)
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 8,946.97 8,743.00 8,859.88 8,932.08 9,048.95 9,165.83 9,238.03 9,354.90 8,200.17 8,314.16 9,014.03
Total Return 15,003.55 14,661.52 14,857.50 14,978.58 15,174.56 15,370.54 15,491.62 15,687.60 13,751.20 13,942.35 15,104.91
All Share 2,565.91 2,510.50 2,542.25 2,561.87 2,593.61 2,625.36 2,644.98 2,676.72 2,310.23 2,346.95 2,551.36
Al Rayan Islamic 3,570.67 3,473.61 3,529.23 3,563.58 3,619.20 3,674.82 3,709.17 3,764.79 3,215.69 3,291.99 3,582.57
Banks & Financials Services
MARK 39.99 38.32 39.28 39.87 40.83 41.79 42.38 43.34 36.39 36.70 39.21
CBQK 28.20 27.19 27.50 27.69 28.00 28.31 28.50 28.81 27.46 28.10 29.35
DHBK 30.98 30.09 30.48 30.71 31.09 31.48 31.71 32.09 27.86 28.47 29.67
QIBK 96.00 91.44 93.29 94.44 96.29 98.14 99.29 101.14 95.26 94.27 95.98
QIIK 57.12 55.84 56.57 57.01 57.74 58.47 58.91 59.64 50.92 51.32 55.38
Insurance
QATI 56.88 51.63 53.92 55.33 57.63 59.92 61.33 63.63 46.73 51.11 60.40
Consumer Goods & Services
MCGS 76.00 73.75 75.04 75.84 77.13 78.42 79.22 80.51 61.88 65.84 77.49
Industrials
IQCD 106.60 104.00 105.49 106.41 107.90 109.39 110.31 111.80 95.73 94.11 97.83
QEWS 183.00 175.00 178.82 181.18 185.00 188.82 191.18 195.00 175.37 178.37 190.85
GISS 18.00 17.43 17.76 17.96 18.28 18.61 18.81 19.13 16.69 17.59 20.50
QIGD 38.85 36.08 37.38 38.18 39.48 40.78 41.58 42.88 31.55 34.33 44.02
Real Estate
BRES 34.40 31.54 32.64 33.33 34.43 35.53 36.22 37.32 30.31 30.80 32.31
UDCD 16.35 15.95 16.17 16.30 16.52 16.74 16.87 17.09 13.62 14.05 16.14
ERES 12.55 12.30 12.43 12.51 12.64 12.77 12.85 12.98 9.96 10.12 11.98
MRDS 8.45 8.08 8.27 8.39 8.58 8.77 8.89 9.08 7.80 8.59 10.21
Telecommunication
ORDS 96.00 94.27 95.26 95.87 96.87 97.86 98.47 99.47 87.39 86.31 92.49
VFQS 7.80 7.52 7.68 7.78 7.94 8.10 8.20 8.36 7.18 7.60 8.25
Transportation
QGTS 17.20 16.49 16.82 17.02 17.36 17.69 17.89 18.23 15.00 15.41 17.15
QNNS 55.11 51.58 53.60 54.85 56.87 58.89 60.14 62.16 52.10 54.67 62.25
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:
Zaid al-Nafoosi, CMT, CFTe Saugata Sarkar, CFA, CAIA Shahan Keushgerian
Senior Research Analyst Head of Research Senior Research Analyst
Tel: (+974) 4476 6535 Tel: (+974) 4476 6534 Tel: (+974) 4476 6509
zaid.alnafoosi@qnbfs.com.qa saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
Mohamed Abo Daff Ahmed El-Khudary Feras al-Sarraj
Senior Research Analyst Head of Trading Head of Sales
Tel: (+974) 4476 6589 Tel: (+974) 4476 6533 Tel: (+974) 4476 6514
mohd.abodaff@qnbfs.com.qa ahmed.elkhudary@qnbfs.com.qa feras.alsarraj@qnbfs.com.qa
QNB Financial Services
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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