This document provides a daily technical analysis of stocks on the Qatar Stock Exchange, including the QSE Index and QGTS stock. It summarizes the previous day's market activity and technical indicators. For the QSE Index, it notes the index is approaching the 10,500 resistance level and has cleared short-term downtrends. For QGTS stock, it provides a price chart analysis and identifies support and resistance levels, recommending a buy if the price breaks above QR23.27. The document also includes overall market data and charts of moving averages for analyzed stocks.

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Daily Technical Trader – Qatar
Tuesday, 29 December 2015
Stocks Covered Today
Ticker Price 1
st
Target
QGTS 23.16 23.70
QSE Index
Level % Ch. Vol. (mn)
Last 10,397.95 0.92 2.7
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,500 10,700 10,900
Support 10,300 10,000 9,800
QSE Index Commentary
Overview:
The QSE Index is getting closer to the
10,500 level. The good news is that the
Index cleared away from the downtrend
line seen on the short term. The not-so-
good news is that the movement, thus far,
has been an up-move bounce. A singular
movement upwards on the daily chart is
not the ideal pattern we look for to change
in a trend.
Expected Resistance Level: 10,500
Expected Support Level: 10,300
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 28 Dec 27 Dec %Ch.
Value Traded (QR mn) 250.0 125.7 98.8
Ex. Mkt. Cap. (QR bn) 549.3 544.6 0.9
Volume (mn) 6.2 3.7 68.8
Number of Trans. 3,255 2,219 46.7
Companies Traded 41 38 7.9
Market Breadth 30:7 22:13 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,162.12 0.9 52.6
All Share Index 2,765.40 0.8 51.8
Banks 2,772.95 0.2 48.8
Industrials 3,139.03 1.9 56.3
Transportation 2,417.44 -0.4 45.5
Real Estate 2,367.52 0.8 50.6
Insurance 4,223.62 2.0 52.6
Telecoms 974.48 1.6 57.6
Consumer 5,958.63 0.4 44.7
Al Rayan Islamic 3,845.21 1.0 50.5
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 34.00 -0.6 0.3
ZHCD 77.50 -3.1 28.8
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QGTS
Price % Ch. Volume
Last 23.16 -0.39 233,960
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 23.27 23.70 23.95
Support 22.80 22.30 22.00
Commentary
Overview:
We see, from the daily chart, that the price
is bouncing off the 100SMA and 200SMA.
Due to the bearish Head and Shoulders
price formations that was molded between
October and November of this year, this
move is expected to be short lived. So this
should be considered as a short-term
trade idea.
Expected Target Price: QR25.70 –
QR25.95
A breakaway above QR23.27 triggers the
buy recommendation.
Suggested Stop-Loss Price: QR22.80
(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 10,397.95 10,217.40 10,278.45 10,316.16 10,377.20 10,438.25 10,475.96 10,537.00 10,770.77 11,152.54 11,569.89
Total Return 16,162.12 15,881.48 15,976.36 16,034.99 16,129.87 16,224.75 16,283.38 16,378.26 16,741.62 17,335.03 17,972.42
All Share 2,765.40 2,721.36 2,736.30 2,745.53 2,760.47 2,775.41 2,784.64 2,799.58 2,869.70 2,971.02 3,086.91
Al Rayan Islamic 3,845.21 3,779.28 3,800.22 3,813.15 3,834.08 3,855.02 3,867.95 3,888.88 4,038.51 4,226.25 4,395.22
Banks & Financials Services
MARK 37.00 36.60 36.77 36.88 37.05 37.22 37.33 37.50 39.27 41.25 43.90
CBQK 45.30 44.77 44.96 45.08 45.27 45.46 45.58 45.77 49.28 52.79 54.48
DHBK 44.00 43.80 43.86 43.89 43.95 44.01 44.04 44.10 46.85 48.97 51.03
QIBK 108.50 107.23 107.77 108.10 108.63 109.17 109.50 110.03 115.23 114.29 109.31
QIIK 64.50 63.63 63.94 64.13 64.43 64.74 64.93 65.23 69.88 72.80 76.20
Insurance
QATI 87.00 84.33 85.10 85.57 86.33 87.10 87.57 88.33 88.08 92.18 90.75
Consumer Goods & Services
MCGS 121.50 118.30 119.29 119.91 120.90 121.89 122.51 123.50 140.42 154.69 162.51
Industrials
IQCD 108.10 102.83 104.67 105.80 107.63 109.47 110.60 112.43 111.28 120.03 129.69
QEWS 218.00 206.40 209.72 211.78 215.10 218.42 220.48 223.80 209.89 211.12 210.47
GISS 52.40 51.33 51.79 52.07 52.53 52.99 53.27 53.73 56.32 59.94 71.35
QIGD 37.40 36.33 36.79 37.07 37.53 37.99 38.27 38.73 41.08 44.01 46.37
Real Estate
BRES 40.10 38.77 39.23 39.51 39.97 40.43 40.71 41.17 42.03 43.27 46.51
UDCD 20.55 19.92 20.11 20.23 20.41 20.60 20.72 20.90 22.16 23.10 23.17
ERES 16.30 16.09 16.16 16.20 16.27 16.34 16.38 16.45 17.22 17.85 17.61
MRDS 14.32 14.04 14.14 14.19 14.29 14.39 14.44 14.54 15.30 15.88 17.17
Telecommunication
ORDS 73.60 71.20 72.16 72.75 73.70 74.66 75.25 76.20 73.11 73.72 83.87
VFQS 12.77 12.25 12.43 12.53 12.71 12.89 12.99 13.17 12.78 13.46 15.21
Transportation
QGTS 23.16 22.94 23.02 23.08 23.16 23.24 23.30 23.38 24.04 23.17 22.82
QNNS 94.60 94.20 94.39 94.51 94.70 94.89 95.01 95.20 96.84 97.00 97.99
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:
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
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