Qatar stock exchange

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Daily Technical Trader – Qatar
Thursday, 03 September 2015
Stocks Covered Today
Ticker Price 1
st
Target
BRES 42.50 40.00
CBQK 56.40 57.40
QSE Index
Level % Ch. Vol. (mn)
Last 11,385.90 -0.26 8.4
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 11,600 11,760 12,000
Support 11,300 11,100 10,900
QSE Index Commentary
Overview:
The Index dipped in the beginning of last
session, almost reaching our indicated
support level, yet managed to recover
most of the losses. The recovery created
a Hanging Man candlestick, which
indicates indecision among market
participants. The later part of the previous
session may indicate short-term
continuation of positive momentum.
Expected Resistance Level: 11,600
Expected Support Level: 11,300
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 02 Sep 01 Sep %Ch.
Value Traded (QR mn) 340.2 407.7 -16.5
Ex. Mkt. Cap. (QR bn) 601.7 602.9 -0.2
Volume (mn) 7.6 9.2 -17.4
Number of Trans. 5,549 5,417 2.4
Companies Traded 40 41 -2.4
Market Breadth 10:29 9:31 –
QE Indices
Market Indices Close 1D% RSI
Total Return 17,697.75 -0.3 47.0
All Share Index 3,031.06 -0.3 45.7
Banks 3,097.10 0.7 54.3
Industrials 3,478.27 -1.4 39.2
Transportation 2,332.27 -0.8 39.2
Real Estate 2,625.28 -1.1 47.7
Insurance 4,688.05 1.1 49.6
Telecoms 925.59 -0.3 33.3
Consumer 6,669.71 -2.2 39.7
Al Rayan Islamic 4,306.04 -1.6 39.9
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 39.30 0.0 14.0
AKHI 33.05 -2.2 18.7
MCCS 95.90 -2.6 22.5
QNCD 103.10 -0.9 22.8
QIMD 42.70 -2.3 26.9
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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BRES
Price % Ch. Volume
Last 42.50 -2.75 960,802
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 45.00 47.70 50.00
Support 42.30 40.00 38.00
Commentary
Overview:
BRES is clearly moving in a down trending
path. Moreover, the name is trading below
its SMAs. A Death Cross formation was
created last week when the 50SMA
crossed below the 100SMA; that carries
negative momentum with it. As a result,
we are of the view that the downward
move could continue.
Expected Price Retreat: QR40.00 –
QR38.00
A price breach below QR42.30 triggers
the sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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CBQK
Price % Ch. Volume
Last 56.40 0.89 306,380
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 56.50 57.40 58.40
Support 55.00 53.60 50.00
Commentary
Overview:
The bank has been stabilizing around the
QR55.00 level after the long drop which
started in November, 2014. Lately, the
name is giving signs of a neutrality or
even possible recovery. The price is trying
to clear the downtrend line (seen in red on
the daily chart) and also breaking away
from its 50SMA and 100SMA.
Expected Target Price: QR57.40 –
QR58.40
A price breakaway above QR56.50
triggers the buy recommendation.
Suggested Stop-Loss Price: QR55.00
(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 11,385.90 11,204.66 11,256.59 11,288.66 11,340.59 11,392.52 11,424.59 11,476.52 11,748.88 11,939.32 12,079.35
Total Return 17,697.75 17,416.04 17,496.75 17,546.61 17,627.32 17,708.03 17,757.89 17,838.60 18,261.43 18,555.74 18,493.20
All Share 3,031.06 2,989.85 3,001.65 3,008.95 3,020.76 3,032.56 3,039.86 3,051.67 3,140.46 3,190.43 3,179.34
Al Rayan Islamic 4,306.04 4,264.25 4,284.20 4,296.52 4,316.46 4,336.41 4,348.73 4,368.67 4,564.82 4,599.19 4,421.67
Banks & Financials Services
MARK 42.60 41.73 42.02 42.20 42.48 42.77 42.95 43.23 44.52 45.76 46.08
CBQK 56.40 54.87 55.33 55.61 56.07 56.53 56.81 57.27 55.65 55.82 58.74
DHBK 51.80 51.47 51.58 51.65 51.77 51.88 51.95 52.07 52.62 53.33 54.49
QIBK 110.90 109.57 109.95 110.18 110.57 110.95 111.18 111.57 108.69 106.67 104.68
QIIK 74.10 72.23 72.88 73.28 73.93 74.58 74.98 75.63 77.88 78.95 80.45
Insurance
QATI 97.70 88.90 91.42 92.98 95.50 98.02 99.58 102.10 98.16 93.87 85.43
Consumer Goods & Services
MCGS 163.10 161.10 162.25 162.95 164.10 165.25 165.95 167.10 178.34 175.79 154.05
Industrials
IQCD 129.50 127.10 127.86 128.34 129.10 129.86 130.34 131.10 134.64 138.04 147.90
QEWS 216.00 210.67 212.19 213.14 214.67 216.19 217.14 218.67 218.37 215.32 202.44
GISS 58.70 56.23 57.04 57.53 58.33 59.14 59.63 60.43 70.62 76.68 86.96
QIGD 44.50 42.63 43.70 44.36 45.43 46.50 47.16 48.23 50.33 50.47 45.73
Real Estate
BRES 42.50 42.10 42.33 42.47 42.70 42.93 43.07 43.30 48.76 49.57 47.71
UDCD 22.85 22.72 22.80 22.84 22.91 22.99 23.03 23.10 24.63 23.85 23.82
ERES 18.40 17.82 18.00 18.12 18.30 18.48 18.60 18.78 17.87 17.85 16.84
MRDS 15.55 15.32 15.40 15.44 15.51 15.59 15.63 15.70 17.76 18.32 18.47
Telecommunication
ORDS 66.20 64.53 65.11 65.46 66.03 66.61 66.96 67.53 79.35 87.57 100.32
VFQS 13.83 13.31 13.48 13.59 13.76 13.93 14.04 14.21 15.48 16.28 16.55
Transportation
QGTS 21.55 21.21 21.39 21.51 21.69 21.87 21.99 22.17 22.05 22.29 22.84
QNNS 93.50 91.10 92.36 93.14 94.40 95.66 96.44 97.70 97.09 97.97 99.05
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.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
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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
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