The document provides a daily technical analysis report on the Qatar stock market and specific stocks trading on the Qatar Exchange. Key points from the analysis include: - The QSE Index bounced off a Fibonacci support level but needs to close above 10,160 for a confirmed bounce in the main downtrend. Resistance is seen at 10,300 and support at 10,000. - QIMD is trading just above an important support level of QR40. A break below this level could cause further price declines to QR36-32. The analysis provides a sell recommendation if the price breaks below QR39. - Tables provide intraday Fibonacci support and resistance levels for indexes and stocks, along with their 50,

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Daily Technical Trader – Qatar
Thursday, 10 December 2015
Stock Covered Today
Ticker Price 1
st
Target
QIMD 40.00 36.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,018.84 -0.77 8.0
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,300 10,500 10,800
Support 10,000 9,900 9,800
QSE Index Commentary
Overview:
The QSE Index bounced off the 161.8% of
the Fibonacci extension seen on the daily
chart. Albeit the Index was bumped up at
the end of session, it created a bullish
Hammer candlestick. The mentioned
candlestick needs a confirmation of a
close on the day above 10,160 to have an
effect of a bounce, but no change in the
main trend yet (which remains down).
Expected Resistance Level: 10,300
Expected Support Level: 10,000
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 09 Dec 08 Dec %Ch.
Value Traded (QR mn) 391.0 380.5 2.8
Ex. Mkt. Cap. (QR bn) 528.5 531.6 -0.6
Volume (mn) 8.9 8.8 1.4
Number of Trans. 5,006 5,178 -3.3
Companies Traded 42 40 5.0
Market Breadth 9:29 6:30 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,572.85 -0.8 26.6
All Share Index 2,669.84 -0.8 25.3
Banks 2,744.48 1.5 34.4
Industrials 3,000.36 -1.2 31.0
Transportation 2,376.96 -3.7 29.0
Real Estate 2,186.57 -3.2 24.2
Insurance 4,073.80 -1.5 36.2
Telecoms 892.49 -2.7 37.0
Consumer 5,838.29 -2.6 12.4
Al Rayan Islamic 3,696.24 -1.2 21.6
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
VFQS 10.69 -2.9 13.2
MPHC 17.90 -1.2 16.3
QCFS 38.00 0.0 17.7
ZHCD 84.00 0.0 18.1
NLCS 14.25 -2.5 18.8
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QIMD
Price % Ch. Volume
Last 40.00 -2.44 41,970
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 43.00 44.50 47.00
Support 39.25 36.00 32.00
Commentary
Overview:
This is a long-term call on the name. It has
been trading in a box since the middle of
2010. Right now, the name is just above
its important support of QR40.00.
Breaking below that level and sustaining a
drop below the mentioned level might
cause selling pressure to rise; momentum
indicators support that notion.
Expected Price Retreat: QR36.00 –
QR32.00
A price breach below QR39.00 triggers
the sell recommendation.
(Weekly)
Source: Bloomberg, QNBFS Research
(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 10,018.84 9,633.93 9,769.68 9,853.55 9,989.29 10,125.04 10,208.91 10,344.65 11,178.70 11,375.45 11,707.65
Total Return 15,572.85 14,974.56 15,185.56 15,315.92 15,526.92 15,737.92 15,868.28 16,079.28 17,375.68 17,681.50 18,163.05
All Share 2,669.84 2,575.61 2,609.78 2,630.88 2,665.04 2,699.21 2,720.31 2,754.47 2,976.31 3,031.96 3,120.70
Al Rayan Islamic 3,696.24 3,557.07 3,612.61 3,646.92 3,702.46 3,758.00 3,792.31 3,847.85 4,218.02 4,338.89 4,438.36
Banks & Financials Services
MARK 36.55 34.48 35.08 35.44 36.03 36.63 36.99 37.58 41.23 42.39 44.58
CBQK 45.50 42.90 43.64 44.11 44.85 45.59 46.06 46.80 52.07 53.99 55.58
DHBK 44.90 43.03 43.57 43.90 44.43 44.97 45.30 45.83 48.33 50.08 51.75
QIBK 116.50 107.30 109.94 111.56 114.20 116.84 118.46 121.10 117.43 114.36 109.00
QIIK 67.00 60.33 62.24 63.42 65.33 67.24 68.42 70.33 73.00 74.71 77.67
Insurance
QATI 82.90 77.83 79.67 80.80 82.63 84.47 85.60 87.43 91.24 94.30 90.48
Consumer Goods & Services
MCGS 126.70 117.90 121.53 123.77 127.40 131.03 133.27 136.90 153.27 162.73 164.55
Industrials
IQCD 103.90 97.77 99.83 101.10 103.17 105.23 106.50 108.57 116.69 123.87 132.51
QEWS 209.00 201.00 203.29 204.71 207.00 209.29 210.71 213.00 210.51 212.73 209.38
GISS 49.80 47.07 48.52 49.42 50.87 52.32 53.22 54.67 60.67 62.71 74.07
QIGD 36.25 35.25 35.78 36.12 36.65 37.18 37.52 38.05 43.49 45.76 46.84
Real Estate
BRES 40.00 36.87 37.96 38.63 39.72 40.81 41.48 42.57 43.41 44.61 47.09
UDCD 19.20 18.42 18.80 19.03 19.41 19.79 20.02 20.40 23.21 23.72 23.42
ERES 14.50 13.99 14.28 14.46 14.75 15.04 15.22 15.51 18.22 18.14 17.64
MRDS 14.11 13.44 13.78 13.99 14.33 14.67 14.88 15.22 15.94 16.39 17.44
Telecommunication
ORDS 69.60 67.20 68.23 68.87 69.90 70.93 71.57 72.60 74.90 75.18 86.47
VFQS 10.69 10.36 10.55 10.67 10.85 11.04 11.16 11.34 13.44 14.00 15.59
Transportation
QGTS 22.20 21.63 21.96 22.16 22.49 22.82 23.02 23.35 24.12 23.07 22.91
QNNS 96.50 95.10 95.71 96.09 96.70 97.31 97.69 98.30 97.72 97.59 98.75
Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock close 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 Shahan Keushgerian
Senior Research Analyst Head of Research Senior Research Analyst
Tel: (+974) 4476 6535 Tel: (+974) 4476 6534 Tel: (+974) 4476 6535
zaid.alnafoosi@qnbfs.com.qa saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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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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