Qatar stock exchange

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Daily Technical Trader – Qatar
Monday, 16 February 2015
Stocks Covered Today
Ticker Price Target
CBQK 69.80 72.00
ORDS 115.90 119.00
QSE Index
Level % Ch. Vol. (mn)
Last 12,692.91 0.7 15.1
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 12,800 12,900 13,000
Support 12,600 12,350 12,250
QSE Index Commentary
Overview:
Another Doji candlestick has been created
after the Tweezers Top formation
established last week. When a group of
Doji candlesticks form after a significant
rise in the Index, it could signify that an
equilibrium level has reached among
buyers and the sellers. In addition, it
predicts less buying appetite in the near-
term horizon. Moreover, if the Index does
not break above the 12,800 level, then we
are looking for a support level at 12,600
followed by 12,350.
Expected Resistance Level: 12,800
Expected Support Level: 12,600
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 15 Feb 15 12 Feb 15 %Ch.
Value Traded (QR mn) 625.6 552.1 13.3
Ex. Mkt. Cap. (QR bn) 686.7 681.8 0.7
Volume (mn) 16.5 17.3 -4.6
Number of Trans. 6,912 6,683 3.4
Companies Traded 42 42 0.0
Market Breadth 22:16 9:30 –
QE Indices
Market Indices Close 1D% RSI
Total Return 19,051.65 0.7 66.2
All Share Index 3,277.66 0.6 67.0
Banks 3,304.07 0.8 64.3
Industrials 4,031.21 0.1 58.3
Transportation 2,478.57 -0.1 72.9
Real Estate 2,583.38 1.5 69.6
Insurance 4,013.64 1.3 64.9
Telecoms 1,447.72 -0.3 60.8
Consumer 7,473.31 0.7 69.0
Al Rayan Islamic 4,427.51 0.4 67.7
RSI 14 (Over Bought)
Ticker Close 1D% RSI
QGMD 12.32 10.0 80.9
MCGS 144.00 5.6 79.7
AHCS 18.17 -1.0 73.0
QIIK 87.60 0.7 70.9
QGTS 25.00 -0.2 70.7
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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CBQK
Price % Ch. Volume
Last 69.80 -0.71 231,130
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 70.00 72.00 72.50
Support 69.00 67.70 66.70
Commentary
Overview:
The bank created a failure swing (positive
signal) on the upside. This is expected to
continue as long as the price stays above
QR69.20. The MACDs on the daily chart
and the hourly chart are on the positive
side. The RSI, however, is pointing down.
Having said that, the stock is trading just
below the 200SMA. A break above the
mentioned SMA is expected to have a
positive influence on the price.
Expected Target Price: QR72.00 –
QR72.50
Taking long positions at this point will be
risky. As for the risk averse traders, a
break above QR70.30 is needed before
buying into the share.
Suggested Stop-Loss price: QR69.20
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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ORDS
Price % Ch. Volume
Last 115.90 -0.09 59,334
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 117.00 119.00 121.70
Support 115.00 112.60 110.00
Commentary
Overview:
The telecommunications leader broke
above a medium-term trend line and then
retraced back around that trend line. In
Addition, the name stabilized above the
QR112.60 price level. It could be possible
that this stability is a bullish failure swing
in the making. The technical indicators
show neutrality because of the range
bound the name has been in over the past
three weeks.
Expected Target Price: QR119.00 –
QR121.70
A break above QR117.20 could trigger
long positions on the name.
Suggested Stop-Loss price: QR115.00
(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 12,692.91 12,637.78 12,669.37 12,688.89 12,720.47 12,752.06 12,771.58 12,803.16 12,128.76 12,867.95 12,989.34
Total Return 19,051.65 18,968.91 19,016.32 19,045.61 19,093.02 19,140.43 19,169.72 19,217.13 18,111.28 19,203.10 19,378.10
All Share 3,277.66 3,263.93 3,271.80 3,276.66 3,284.53 3,292.40 3,297.26 3,305.13 3,110.68 3,277.27 3,299.23
Al Rayan Islamic 4,427.51 4,404.17 4,417.54 4,425.81 4,439.18 4,452.55 4,460.82 4,474.19 4,102.54 4,343.02 4,376.30
Banks & Financials Services
MARK 49.40 48.73 49.02 49.20 49.48 49.77 49.95 50.23 45.33 48.66 51.14
CBQK 69.80 68.47 68.96 69.27 69.77 70.26 70.57 71.07 67.74 70.20 69.20
DHBK 58.00 57.13 57.44 57.63 57.93 58.24 58.43 58.73 56.54 57.77 59.30
QIBK 107.00 104.20 105.77 106.73 108.30 109.87 110.83 112.40 102.90 107.16 104.58
QIIK 87.60 86.80 87.03 87.17 87.40 87.63 87.77 88.00 80.62 83.79 84.61
Insurance
QATI 91.40 89.53 90.07 90.40 90.93 91.47 91.80 92.33 86.00 91.50 88.52
Consumer Goods & Services
MCGS 144.00 133.07 136.39 138.44 141.77 145.09 147.14 150.47 120.93 124.50 112.70
Industrials
IQCD 153.50 151.90 152.63 153.07 153.80 154.53 154.97 155.70 161.75 176.41 179.42
QEWS 200.00 198.53 199.34 199.83 200.63 201.44 201.93 202.73 189.13 188.94 187.58
GISS 104.80 102.00 103.60 104.60 106.20 107.80 108.80 110.40 96.87 108.33 106.51
QIGD 40.60 40.20 40.39 40.51 40.70 40.89 41.01 41.20 39.60 45.44 52.87
Real Estate
BRES 49.20 48.33 48.75 49.01 49.43 49.85 50.11 50.53 43.85 44.14 42.23
UDCD 24.50 24.00 24.23 24.37 24.60 24.83 24.97 25.20 23.92 25.69 26.29
ERES 17.45 16.93 17.14 17.26 17.47 17.68 17.80 18.01 15.22 17.22 20.30
MRDS 21.00 20.63 20.78 20.87 21.03 21.18 21.27 21.43 19.47 21.43 20.93
Telecommunication
ORDS 115.90 114.37 115.02 115.42 116.07 116.72 117.12 117.77 116.28 120.92 128.74
VFQS 18.25 17.59 17.92 18.13 18.46 18.79 19.00 19.33 15.93 17.96 18.78
Transportation
QGTS 25.00 24.40 24.63 24.77 25.00 25.23 25.37 25.60 23.15 23.65 23.74
QNNS 104.90 102.43 103.16 103.61 104.33 105.06 105.51 106.23 97.64 98.01 96.27
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 Abdullah Amin, CFA Shahan Keushgerian
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6509
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa
Sahbi Kasraoui Ahmed Al-Khoudary QNB Financial Services SPC
Manager – HNWI Head of Sales Trading – Institutional Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548 PO Box 24025
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa Doha, Qatar
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indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically engaged investment advice. We
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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