Qatar stock exchange

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Daily Technical Trader – Qatar
Monday, 18 May 2015
Stocks Covered Today
Ticker Price 1
st
Target
GISS 82.00 80.00
MCGS 170.40 166.00
QSE Index
Level % Ch. Vol. (mn)
Last 12,540.10 0.2 27.4
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 12,600 12,800 13,000
Support 12,400 12,200 12,100
QSE Index Commentary
Overview:
The QSE Index gained 0.2% from last
week’s closing. Few constituents added to
this gain while the rest were in the red (as
seen from the Market Breadth table). This
signifies the notion that the Index might be
running out of steam, and that pattern is
becoming increasingly alarming.
Expected Resistance Level: 12,600
Expected Support Level: 12,400
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 17 May 15 14 May 15 %Ch.
Value Traded (QR mn) 932.5 722.4 29.1
Ex. Mkt. Cap. (QR bn) 667.3 661.5 0.9
Volume (mn) 32.4 21.4 51.2
Number of Trans. 9,114 7,632 19.4
Companies Traded 41 42 -2.4
Market Breadth 15:24 18:21 –
QE Indices
Market Indices Close 1D% RSI
Total Return 19,487.97 0.2 71.4
All Share Index 3,339.23 0.2 71.4
Banks 3,251.93 -0.1 54.6
Industrials 3,998.61 -0.6 48.7
Transportation 2,478.73 -0.3 50.8
Real Estate 2,992.19 3.3 86.0
Insurance 4,682.50 -3.0 73.7
Telecoms 1,313.06 0.6 46.7
Consumer 7,448.49 -0.8 62.2
Al Rayan Islamic 4,761.68 0.2 72.8
RSI 14 (Over Bought)
Ticker Close 1D% RSI
ERES 21.10 6.6 87.2
QIGD 52.60 1.3 72.8
QATI 94.50 -4.5 71.8
MERS 251.10 -0.2 70.5
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GISS
Price % Ch. Volume
Last 82.00 -1.80 683,565
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 84.00 88.00 90.00
Support 82.00 80.00 77.70
Commentary
Overview:
GISS is in a clear downtrend and might
continue further down. The MACD is
below zero on both time frames which is
bearish. It should be noted that the name
dropped more than 9% since end of April;
so a bounce from this level is possible but
very risky.
Expected Price Retreat: QR80.00 –
QR77.70
A drop below 82.00 triggers the sell
recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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MCGS
Price % Ch. Volume
Last 170.40 -2.07 27,834
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 172.00 176.00 180.00
Support 170.40 166.00 160.00
Commentary
Overview:
Name rose almost 30% since last March;
a correction could be overdue. The MACD
crossed below its signal line and the RSI
just dropped below the overbought area.
The same scenario took place end of
February 2015. If history repeats itself,
then we can expect a price move to
QR166.00 and then QR160.00.
Expected Price Retreat: QR166.00 –
QR160.00
A break below QR170.40 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 12,540.10 12,424.38 12,483.86 12,520.61 12,580.09 12,639.57 12,676.32 12,735.80 11,949.89 12,092.31 12,736.17
Total Return 19,487.97 19,308.14 19,400.58 19,457.68 19,550.11 19,642.55 19,699.65 19,792.08 18,514.73 18,430.91 19,193.55
All Share 3,339.23 3,311.45 3,324.97 3,333.32 3,346.84 3,360.36 3,368.71 3,382.23 3,188.67 3,173.60 3,280.95
Al Rayan Islamic 4,761.68 4,719.45 4,740.47 4,753.46 4,774.48 4,795.50 4,808.49 4,829.51 4,455.85 4,334.07 4,430.52
Banks & Financials Services
MARK 46.25 45.78 46.05 46.22 46.48 46.75 46.92 47.18 47.56 46.88 49.55
CBQK 56.80 55.80 56.14 56.36 56.70 57.04 57.26 57.60 57.85 59.94 62.16
DHBK 56.00 55.13 55.40 55.57 55.83 56.10 56.27 56.53 52.62 54.95 56.88
QIBK 104.60 104.40 104.48 104.52 104.60 104.68 104.72 104.80 101.37 103.17 106.86
QIIK 80.50 80.23 80.39 80.48 80.63 80.79 80.88 81.03 80.41 81.67 83.81
Insurance
QATI 94.50 90.23 92.49 93.88 96.13 98.39 99.78 102.03 79.74 78.54 80.44
Consumer Goods & Services
MCGS 170.40 168.53 169.45 170.02 170.93 171.85 172.42 173.33 156.29 144.15 134.72
Industrials
IQCD 142.50 141.57 141.91 142.12 142.47 142.81 143.02 143.37 141.88 148.46 167.45
QEWS 214.00 210.93 212.38 213.28 214.73 216.18 217.08 218.53 197.40 194.74 190.84
GISS 82.00 80.73 81.38 81.78 82.43 83.08 83.48 84.13 88.93 94.06 104.75
QIGD 52.60 50.47 51.08 51.46 52.07 52.68 53.06 53.67 44.14 42.49 47.23
Real Estate
BRES 49.50 48.30 48.95 49.35 50.00 50.65 51.05 51.70 48.08 46.94 44.88
UDCD 23.66 23.09 23.32 23.46 23.69 23.92 24.06 24.29 22.29 23.22 25.41
ERES 21.10 19.98 20.43 20.71 21.16 21.61 21.89 22.34 16.46 15.99 17.41
MRDS 18.90 18.59 18.70 18.77 18.87 18.98 19.05 19.15 18.22 18.48 20.04
Telecommunication
ORDS 98.50 97.03 97.64 98.02 98.63 99.24 99.62 100.23 101.90 109.01 116.94
VFQS 17.75 17.46 17.61 17.70 17.85 18.00 18.09 18.24 17.48 16.95 18.34
Transportation
QGTS 22.60 22.54 22.57 22.60 22.63 22.66 22.69 22.72 22.76 23.32 23.66
QNNS 99.00 98.40 98.74 98.96 99.30 99.64 99.86 100.20 100.75 100.79 98.53
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 Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa 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
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