Qatar stock exchange

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Daily Technical Trader – Qatar
Monday, 19 October 2015
Stocks Covered Today
Ticker Price 1
st
Target
QFLS 160.90 169.50
ERES 19.70 19.05
QSE Index
Level % Ch. Vol. (mn)
Last 11,760.16 -0.10 7.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 11,900 12,000 12,100
Support 11,760 11,500 11,300
QSE Index Commentary
Overview:
The QSE Index dropped marginally on
slightly higher volumes, compared to the
session before. It is still inactive to give an
indication as momentum indicators are
idle. It is a wait-and-see situation and thus
we do not advice to take definite positions
on the overall market.
Expected Resistance Level: 11,900
Expected Support Level: 11,760
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 18 Oct 15 Oct %Ch.
Value Traded (QR mn) 301.1 262.5 14.7
Ex. Mkt. Cap. (QR bn) 618.0 617.9 0.0
Volume (mn) 12.7 8.5 49.6
Number of Trans. 3,532 3,928 -10.1
Companies Traded 41 42 -2.4
Market Breadth 22:16 20:19 –
QE Indices
Market Indices Close 1D% RSI
Total Return 18,279.49 -0.1 56.3
All Share Index 3,130.01 0.0 57.1
Banks 3,156.31 -0.2 55.4
Industrials 3,542.92 -0.1 53.9
Transportation 2,461.94 0.2 51.6
Real Estate 2,805.10 -0.2 61.7
Insurance 4,604.68 1.0 48.7
Telecoms 1,058.64 -0.7 60.4
Consumer 6,895.69 1.5 61.1
Al Rayan Islamic 4,481.92 0.3 57.1
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 38.00 0.0 17.7
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QFLS
Price % Ch. Volume
Last 160.90 1.71 31,684
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 162.00 169.50 179.00
Support 150.00 148.00 143.00
Commentary
Overview:
Price movement will create a bullish
failure-swing once it breaks above
yesterday’s highest price. In the medium
term, the general trend is down. However,
it might be reversing upwards if that price
condition applies.
Expected Target Price: QR169.50 –
QR179.00
A price breakaway above QR162.00
triggers the buy recommendation.
Suggested Stop-Loss Price: QR150.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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ERES
Price % Ch. Volume
Last 19.70 -1.01 128,549
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 20.00 20.40 21.35
Support 19.64 19.05 18.50
Commentary
Overview:
Although it has been in an uptrend, ERES
could face a correction from the current
levels. The name reached the 61.8%
Fibonacci retracement of its previous
down-leg. Also, price action could not
break above the QR20.00 mark, which
means that a break below the recent lows
might enforce more weakness on the
name.
Expected Target Price: QR19.05 –
QR18.50
A price breach below QR19.64 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 11,760.16 11,711.64 11,737.47 11,753.42 11,779.25 11,805.08 11,821.03 11,846.86 11,534.31 11,771.21 11,931.83
Total Return 18,279.49 18,204.06 18,244.21 18,269.01 18,309.15 18,349.30 18,374.10 18,414.24 17,928.44 18,295.59 18,375.07
All Share 3,130.01 3,116.50 3,123.09 3,127.15 3,133.73 3,140.32 3,144.38 3,150.96 3,072.35 3,141.63 3,159.90
Al Rayan Islamic 4,481.92 4,444.93 4,458.66 4,467.14 4,480.87 4,494.60 4,503.08 4,516.81 4,414.00 4,532.91 4,442.08
Banks & Financials Services
MARK 43.90 43.50 43.67 43.78 43.95 44.12 44.23 44.40 43.22 44.41 45.64
CBQK 56.50 55.77 56.15 56.38 56.77 57.15 57.38 57.77 56.30 55.61 57.70
DHBK 50.00 49.60 49.83 49.97 50.20 50.43 50.57 50.80 51.09 52.23 53.57
QIBK 118.00 116.93 117.39 117.67 118.13 118.59 118.87 119.33 113.34 110.21 106.72
QIIK 75.80 75.20 75.54 75.76 76.10 76.44 76.66 77.00 75.73 77.47 79.52
Insurance
QATI 94.50 94.10 94.33 94.47 94.70 94.93 95.07 95.30 96.28 97.03 88.05
Consumer Goods & Services
MCGS 170.00 157.53 162.00 164.76 169.23 173.70 176.46 180.93 168.96 176.05 160.87
Industrials
IQCD 125.80 124.73 125.23 125.54 126.03 126.53 126.84 127.33 128.78 132.95 140.21
QEWS 212.00 210.07 210.79 211.24 211.97 212.69 213.14 213.87 212.35 216.51 205.98
GISS 68.00 66.13 67.20 67.86 68.93 70.00 70.66 71.73 63.57 70.52 82.07
QIGD 47.20 46.37 46.63 46.80 47.07 47.33 47.50 47.77 46.95 49.81 46.34
Real Estate
BRES 45.00 43.80 44.18 44.42 44.80 45.18 45.42 45.80 44.50 47.90 47.47
UDCD 24.50 24.10 24.21 24.29 24.40 24.51 24.59 24.70 24.03 24.12 23.67
ERES 19.70 19.49 19.59 19.65 19.75 19.85 19.91 20.01 18.48 18.24 17.19
MRDS 16.95 15.72 16.07 16.29 16.64 16.99 17.21 17.56 16.45 17.56 18.04
Telecommunication
ORDS 77.50 76.57 77.06 77.37 77.87 78.36 78.67 79.17 74.33 80.72 94.51
VFQS 15.00 14.66 14.79 14.88 15.01 15.14 15.23 15.36 14.13 15.29 16.15
Transportation
QGTS 23.13 22.86 22.97 23.04 23.15 23.26 23.33 23.44 22.30 22.30 22.80
QNNS 96.90 95.43 95.93 96.24 96.73 97.23 97.54 98.03 97.17 97.50 99.17
Sources: 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 sahbi.alkasraoui@qnbfs.com Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an offer,
promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. QNBFS accepts no liability whatsoever for any direct or
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
and completeness of the information it may contain, and declines any liability in that respect. For reports dealing with Technical Analysis, expressed opinions and/or recommendations may be different or
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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