Qatar stock exchange

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Daily Technical Trader – Qatar
Thursday, 31 December 2015
Stocks Covered Today
Ticker Price 1
st
Target
DHBK 44.00 45.50
QSE Index
Level % Ch. Vol. (mn)
Last 10,435.67 0.36 4.2
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 faced the expected
resistance and pulled back slightly from
the 10,500 level. Although it is the last day
of trading this year, the main trend
remains down and it has been in an uptick
correction. We note that if the Index dips
below 10,260 then we might have another
down-leg in the making.
Expected Resistance Level: 10,500
Expected Support Level: 10,300
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 30 Dec 29 Dec %Ch.
Value Traded (QR mn) 152.0 199.8 -23.9
Ex. Mkt. Cap. (QR bn) 553.3 551.2 0.4
Volume (mn) 3.9 4.9 -19.6
Number of Trans. 2,826 2,562 10.3
Companies Traded 40 41 -2.4
Market Breadth 26:11 8:31 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,220.75 0.4 54.1
All Share Index 2,777.19 0.4 53.6
Banks 2,803.94 0.6 53.3
Industrials 3,150.68 0.4 57.4
Transportation 2,428.78 0.2 47.6
Real Estate 2,374.15 0.7 51.4
Insurance 4,083.39 -1.1 44.3
Telecoms 981.78 0.8 59.0
Consumer 5,959.98 0.8 45.6
Al Rayan Islamic 3,845.40 0.5 50.7
RSI 14 (Over Bought)
Ticker Close 1D% RSI
AHCS 13.90 5.4 70.9
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 34.00 0.0 0.3
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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DHBK
Price % Ch. Volume
Last 44.00 0.80 55,519
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 44.50 45.50 46.50
Support 42.75 42.20 42.00
Commentary
Overview:
The name has been stabilizing above the
QR42.00 level which happened to be at
the lower side of the downtrend channel.
Positive divergence on the RSI is seen on
the daily chart. As a result, if the price
moves above QR44.50, then there is a
good chance for it to continue upwards for
the short term.
Expected Target Price: QR45.50 –
QR46.50
A price breakaway above QR44.50
triggers the buy recommendation.
Suggested Stop-Loss Price: QR42.75
(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 10,435.67 10,275.99 10,332.16 10,366.86 10,423.03 10,479.20 10,513.90 10,570.07 10,716.58 11,124.40 11,553.83
Total Return 16,220.75 15,972.55 16,059.86 16,113.79 16,201.10 16,288.41 16,342.34 16,429.65 16,657.38 17,291.28 17,949.93
All Share 2,777.19 2,734.34 2,748.75 2,757.65 2,772.06 2,786.47 2,795.37 2,809.78 2,855.34 2,963.24 3,082.71
Al Rayan Islamic 3,845.40 3,804.32 3,818.67 3,827.53 3,841.88 3,856.23 3,865.09 3,879.44 4,012.78 4,211.23 4,389.98
Banks & Financials Services
MARK 37.05 36.48 36.69 36.82 37.03 37.24 37.37 37.58 38.99 41.11 43.81
CBQK 46.00 44.63 45.19 45.53 46.08 46.64 46.98 47.53 48.89 52.60 54.30
DHBK 44.00 43.67 43.86 43.98 44.17 44.36 44.48 44.67 46.60 48.78 50.94
QIBK 106.00 105.60 105.83 105.97 106.20 106.43 106.57 106.80 114.72 114.21 109.37
QIIK 64.00 63.20 63.51 63.69 64.00 64.31 64.49 64.80 69.40 72.53 75.96
Insurance
QATI 82.00 78.40 80.08 81.12 82.80 84.48 85.52 87.20 87.54 91.73 90.83
Consumer Goods & Services
MCGS 121.20 117.20 118.35 119.05 120.20 121.35 122.05 123.20 138.61 153.55 162.21
Industrials
IQCD 109.00 107.67 108.43 108.90 109.67 110.43 110.90 111.67 110.62 119.48 129.35
QEWS 216.00 210.67 212.19 213.14 214.67 216.19 217.14 218.67 209.93 211.07 210.72
GISS 51.30 50.63 51.02 51.25 51.63 52.02 52.25 52.63 55.62 59.56 70.95
QIGD 37.20 36.20 36.51 36.69 37.00 37.31 37.49 37.80 40.66 43.77 46.32
Real Estate
BRES 39.70 38.90 39.24 39.46 39.80 40.14 40.36 40.70 41.79 43.10 46.42
UDCD 20.59 20.34 20.41 20.45 20.53 20.60 20.64 20.72 22.00 23.00 23.15
ERES 16.44 16.05 16.16 16.23 16.35 16.46 16.53 16.65 17.10 17.83 17.62
MRDS 14.17 14.06 14.11 14.15 14.21 14.26 14.30 14.36 15.20 15.80 17.12
Telecommunication
ORDS 74.60 72.33 73.02 73.45 74.13 74.82 75.25 75.93 72.96 73.58 83.53
VFQS 12.66 12.52 12.58 12.63 12.69 12.75 12.80 12.86 12.68 13.40 15.16
Transportation
QGTS 23.30 22.83 22.97 23.05 23.18 23.32 23.40 23.53 24.01 23.20 22.82
QNNS 95.00 94.33 94.72 94.95 95.33 95.72 95.95 96.33 96.80 96.94 97.86
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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