Qatar stock exc

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Daily Technical Trader – Qatar
Thursday, 29 January 2015
Stocks Covered Today
Ticker Price Target
ERES 14.73 15.75
VFQS 15.50 16.05
QSE Index
Level % Ch. Vol. (mn)
Last 11,980.66 0.5 5.5
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 12,000 12,250 12,400
Support 11,850 11,750 11,600
QSE Index Commentary
Overview:
Yesterday was another positive day for
the Index, reaching its first expected
resistance of ~12,000. Furthermore, on
the intraday chart, the Index breached
above an important short-term downtrend
line. Staying above the downtrend line is a
prerequisite for reaching the 12,250 level.
So far, the bounce the Index is
experiencing is still intact and could
continue further.
Expected Resistance Level: 12,250
A sustained break above 12,000 may take
the Index to 12,250.
Expected Support Level: 11,600
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 28 Jan 15 27 Jan 15 %Ch.
Value Traded (QR mn) 504.4 378.6 33.2
Ex. Mkt. Cap. (QR bn) 653.1 650.1 0.5
Volume (mn) 11.8 8.0 47.5
Number of Trans. 6,046 5,314 13.8
Companies Traded 43 40 7.5
Market Breadth 22:17 26:12 –
QE Indices
Market Indices Close 1D% RSI
Total Return 17,869.04 0.5 48.0
All Share Index 3,080.21 0.5 48.9
Banks 3,146.98 0.6 48.9
Industrials 3,818.84 0.7 45.6
Transportation 2,316.33 0.2 54.0
Real Estate 2,278.24 -0.1 50.7
Insurance 3,850.44 2.7 58.5
Telecoms 1,383.60 -0.1 45.6
Consumer 7,090.98 -0.5 54.3
Al Rayan Islamic 4,055.72 0.1 49.7
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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ERES
Price % Ch. Volume
Last 14.73 0.00 3,569,227
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 15.00 15.40 15.75
Support 14.68 14.30 14.00
Commentary
Overview:
ERES created what is known as the Cup
and Handle bullish price pattern on the
hourly chart. It could be a good time for
risk takers to accumulate on the name
before it moves up again. For the risk
averse traders, a break above QR15.42 is
required before a buy trade can be
entered.
Expected Target Price: QR15.75 –
QR16.00
To confirm the strength of the momentum,
it is preferable to buy the share on a
breakout above QR15.42.
Suggested Stop-Loss Price: QR14.55
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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VFQS
Price % Ch. Volume
Last 15.50 0.58 685,636
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 15.75 16.05 16.44
Support 15.18 14.70 14.40
Commentary
Overview:
VFQS created what is known as Inverse
Head and Shoulders bullish price pattern
on the intraday chart. This formation is
also meeting a downtrend line. The only
way to confirm the validity of the pattern is
a sustained break above the QR15.75
level. This in turn, will allow the stock to
break above the mentioned downtrend
line.
Expected Target Price: QR16.05 –
QR16.44
A break above QR15.75 is needed to
confirm the strength of the momentum.
Suggested Stop-Loss Price: QR15.18
(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 11,980.66 11,853.78 11,900.34 11,929.11 11,975.67 12,022.23 12,051.00 12,097.56 12,350.18 13,041.84 12,995.04
Total Return 17,869.04 17,679.80 17,749.25 17,792.15 17,861.60 17,931.05 17,973.95 18,043.40 18,420.18 19,451.78 19,381.07
All Share 3,080.21 3,051.74 3,062.11 3,068.52 3,078.90 3,089.27 3,095.68 3,106.06 3,156.22 3,313.75 3,300.65
Al Rayan Islamic 4,055.72 4,024.68 4,039.03 4,047.89 4,062.24 4,076.59 4,085.45 4,099.80 4,152.68 4,390.33 4,363.44
Banks & Financials Services
MARK 45.00 43.73 44.13 44.38 44.78 45.18 45.43 45.83 45.38 49.51 51.00
CBQK 67.70 66.63 66.98 67.19 67.53 67.88 68.09 68.43 68.63 70.63 69.16
DHBK 58.80 58.33 58.56 58.70 58.93 59.16 59.30 59.53 56.83 58.21 59.55
QIBK 103.20 102.53 102.84 103.03 103.33 103.64 103.83 104.13 102.51 108.19 103.14
QIIK 78.50 77.30 77.80 78.10 78.60 79.10 79.40 79.90 80.85 84.48 84.54
Insurance
QATI 87.70 83.23 85.14 86.32 88.23 90.14 91.32 93.23 86.88 92.63 87.75
Consumer Goods & Services
MCGS 121.50 120.83 121.22 121.45 121.83 122.22 122.45 122.83 120.98 124.43 109.91
Industrials
IQCD 149.10 146.23 147.61 148.46 149.83 151.21 152.06 153.43 169.99 180.61 180.99
QEWS 193.40 188.87 190.17 190.97 192.27 193.57 194.37 195.67 188.00 188.17 186.87
GISS 100.30 97.77 98.57 99.06 99.87 100.67 101.16 101.97 98.13 110.19 105.63
QIGD 38.45 36.95 37.69 38.16 38.90 39.64 40.11 40.85 40.79 47.56 54.11
Real Estate
BRES 44.60 43.93 44.32 44.55 44.93 45.32 45.55 45.93 44.22 43.45 41.66
UDCD 24.34 23.74 23.93 24.06 24.25 24.44 24.57 24.76 24.36 26.19 26.20
ERES 14.73 14.22 14.48 14.65 14.92 15.18 15.35 15.62 15.67 17.58 21.17
MRDS 19.89 19.42 19.58 19.67 19.82 19.98 20.07 20.22 19.79 21.86 20.93
Telecommunication
ORDS 115.00 114.40 114.67 114.83 115.10 115.37 115.53 115.80 117.02 122.75 130.58
VFQS 15.50 15.27 15.38 15.45 15.57 15.68 15.75 15.87 16.14 18.47 18.70
Transportation
QGTS 23.39 23.11 23.24 23.31 23.44 23.57 23.64 23.77 23.06 23.69 23.61
QNNS 98.70 94.90 96.05 96.75 97.90 99.05 99.75 100.90 97.13 97.16 95.93
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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