The document provides a daily technical analysis report on stock and market activity in Qatar. It includes: 1) An analysis of the QSE Index showing it plunged through a support level but closed back above 10,600, with weakness expected to continue. Resistance is seen at 10,800 and support at 10,600. 2) A technical analysis of stock QGTS showing it may be forming a bearish Head and Shoulders pattern that could trigger a sell recommendation if it breaks below 24.30. Support is seen at 23.90-23.60. 3) A section with charts, commentary and technical indicators for various stocks and market indices trading in Qatar.

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Daily Technical Trader – Qatar
Wednesday, 25 November 2015
Stock Covered Today
Ticker Price 1
st
Target
QGTS 24.50 23.90
QSE Index
Level % Ch. Vol. (mn)
Last 10,611.80 -0.60 4.8
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,800 10,900 11,000
Support 10,600 10,500 10,300
QSE Index Commentary
Overview:
The QSE Index plunged through the
previous session and reached the 10,500
support level then managed to close back
above the 10,600 support level. We
updated our daily resistance levels (as
seen on the above table) due to the recent
dip. Weakness is expected to continue; it
is inline with the general trend at the
moment.
Expected Resistance Level: 10,800
Expected Support Level: 10,600
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 24 Nov 23 Nov %Ch.
Value Traded (QR mn) 229.2 214.7 6.8
Ex. Mkt. Cap. (QR bn) 558.1 561.3 -0.6
Volume (mn) 5.6 5.2 7.1
Number of Trans. 4,383 3,838 14.2
Companies Traded 40 40 0.0
Market Breadth 9:29 7:23 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,494.52 -0.6 19.5
All Share Index 2,831.48 -0.6 18.4
Banks 2,843.25 -1.1 19.3
Industrials 3,149.87 -0.7 20.7
Transportation 2,525.30 -0.9 47.7
Real Estate 2,471.99 -0.6 25.2
Insurance 4,271.40 2.2 41.5
Telecoms 947.41 1.0 35.0
Consumer 6,343.55 -0.1 30.1
Al Rayan Islamic 3,985.17 -0.6 18.6
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 38.00 0.0 17.7
UDCD 21.63 -3.0 18.1
MARK 38.65 -0.9 20.4
VFQS 12.12 -0.9 21.6
ZHCD 87.00 -1.1 21.7
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QGTS
Price % Ch. Volume
Last 24.50 -1.69 1,151,290
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 24.80 25.00 25.20
Support 24.30 23.90 23.60
Commentary
Overview:
Although we try to refrain from expecting
the creation of price patterns, but a break
below QR23.60 creates a bearish Head
and Shoulders price formation. Volumes
have to support the H&S pattern; they did.
We noted spikes in traded volume on the
left shoulder then the volumes dropped as
the days pass by, which is a criterion in
H&S pattern recognition.
Expected Price Retreat: QR23.90 –
QR23.60
A price breach below QR24.30 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 10,611.80 10,370.45 10,466.72 10,526.20 10,622.48 10,718.75 10,778.23 10,874.51 11,423.46 11,550.62 11,828.97
Total Return 16,494.52 16,119.35 16,269.01 16,361.46 16,511.11 16,660.77 16,753.22 16,902.87 17,756.13 17,953.70 18,315.48
All Share 2,831.48 2,773.55 2,796.92 2,811.36 2,834.74 2,858.11 2,872.55 2,895.93 3,039.54 3,079.91 3,147.69
Al Rayan Islamic 3,985.17 3,922.64 3,948.02 3,963.71 3,989.10 4,014.48 4,030.17 4,055.56 4,324.20 4,424.68 4,468.55
Banks & Financials Services
MARK 38.65 37.22 37.77 38.11 38.67 39.22 39.56 40.12 42.46 43.30 45.24
CBQK 48.20 47.00 47.69 48.11 48.80 49.49 49.91 50.60 54.05 54.88 56.48
DHBK 45.20 43.73 44.50 44.97 45.73 46.50 46.97 47.73 49.33 50.86 52.43
QIBK 116.30 115.57 115.87 116.06 116.37 116.67 116.86 117.17 117.28 113.31 108.53
QIIK 68.80 67.20 68.04 68.56 69.40 70.24 70.76 71.60 74.45 75.89 78.67
Insurance
QATI 86.30 83.10 84.09 84.71 85.70 86.69 87.31 88.30 92.93 95.49 90.24
Consumer Goods & Services
MCGS 139.50 131.63 133.89 135.28 137.53 139.79 141.18 143.43 161.08 168.67 165.06
Industrials
IQCD 109.00 106.07 107.25 107.98 109.17 110.35 111.08 112.27 121.18 127.36 135.10
QEWS 211.00 203.00 205.29 206.71 209.00 211.29 212.71 215.00 211.82 214.52 208.82
GISS 54.20 52.27 53.22 53.81 54.77 55.72 56.31 57.27 62.72 65.57 76.94
QIGD 40.00 39.37 39.58 39.71 39.92 40.13 40.26 40.47 45.03 47.32 46.98
Real Estate
BRES 41.90 41.30 41.49 41.61 41.80 41.99 42.11 42.30 43.78 45.75 47.51
UDCD 21.63 21.18 21.44 21.60 21.85 22.11 22.27 22.52 23.73 24.11 23.62
ERES 16.98 16.44 16.64 16.77 16.97 17.17 17.30 17.50 18.74 18.30 17.69
MRDS 15.15 14.80 14.97 15.07 15.23 15.40 15.50 15.66 16.17 16.80 17.70
Telecommunication
ORDS 72.20 70.20 70.89 71.31 72.00 72.69 73.11 73.80 75.56 76.62 88.82
VFQS 12.12 11.85 11.99 12.08 12.21 12.35 12.44 12.57 13.83 14.50 15.92
Transportation
QGTS 24.50 23.97 24.20 24.34 24.57 24.80 24.94 25.17 23.85 22.90 22.97
QNNS 97.00 95.67 96.24 96.59 97.17 97.74 98.09 98.67 97.93 97.51 99.13
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 saugata.sarkar@qnbfs.com shahan.keushgerian@qnbfs.com
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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