The document provides a daily technical analysis of stocks on the Qatar Stock Exchange. It summarizes movements in the QSE Index and covers one stock (CBQK) in more detail. The index dropped sharply but was expected to find strong support at the 10,000 level. CBQK also declined but its relative strength index showed a positive divergence, suggesting a potential bullish correction. Key resistance and support levels are identified for both the index and stock.

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Daily Technical Trader – Qatar
Tuesday, 05 January 2016
Stocks Covered Today
Ticker Price 1
st
Target
CBQK 45.00 46.50
QSE Index
Level % Ch. Vol. (mn)
Last 10,041.70 -2.64 1.4
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,300 10,500 10,700
Support 10,000 9,800 9,700
QSE Index Commentary
Overview:
The QSE Index dropped sharply and
reached close to the 10,000 level. That
level is expected to have a strong support.
In addition, there is a slight bounce seen
in the international arena; that might have
a positive trickledown effect on our Index.
That been said, the Index remain in a
medium-term downtrend.
Expected Resistance Level: 10,300
Expected Support Level: 10,000
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 04 Jan 03 Jan %Ch.
Value Traded (QR mn) 108.8 67.4 61.4
Ex. Mkt. Cap. (QR bn) 533.7 547.1 -2.5
Volume (mn) 3.1 2.0 51.8
Number of Trans. 2,317 1,321 75.4
Companies Traded 39 38 2.6
Market Breadth 1:37 6:30 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,608.38 -2.6 38.9
All Share Index 2,679.74 -2.6 38.8
Banks and Financials 2,709.12 -2.7 39.9
Industrials 3,057.53 -2.1 46.2
Transportation 2,374.60 -1.2 38.7
Real Estate 2,231.94 -3.8 36.5
Insurance 4,009.42 -2.0 41.3
Telecoms 945.70 -2.6 49.1
Consumer 5,825.06 -2.3 38.1
Al Rayan Islamic 3,701.43 -2.8 37.8
RSI 14 (Over Bought)
Ticker Close 1D% RSI
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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CBQK
Price % Ch. Volume
Last 45.00 -2.39 113,795
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 45.50 46.50 46.80
Support 45.00 44.50 44.00
Commentary
Overview:
Even though the price is in a downtrend,
the RSI is making a positive divergence
against the price. Unless the name breaks
below the QR44.50 (which will create a
bearish flag price formation), the current
standing is a bullish correction as the price
made higher highs and higher lows on the
daily chart.
Expected Target Price: QR46.50 –
QR46.80
A price breakaway above QR45.50
triggers the buy recommendation.
Suggested Stop-Loss Price: QR44.50
(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 10,041.70 9,865.44 9,966.44 10,028.83 10,129.83 10,230.83 10,293.22 10,394.22 10,634.30 11,081.65 11,533.38
Total Return 15,608.38 15,334.41 15,491.39 15,588.38 15,745.37 15,902.35 15,999.34 16,156.33 16,529.49 17,224.83 17,921.28
All Share 2,679.74 2,635.11 2,660.68 2,676.48 2,702.06 2,727.63 2,743.43 2,769.01 2,833.79 2,951.48 3,077.32
Al Rayan Islamic 3,701.43 3,636.67 3,673.78 3,696.70 3,733.81 3,770.92 3,793.84 3,830.95 3,974.68 4,188.40 4,383.34
Banks & Financials Services
MARK 35.70 35.10 35.44 35.66 36.00 36.34 36.56 36.90 38.58 40.89 43.69
CBQK 45.00 44.33 44.72 44.95 45.33 45.72 45.95 46.33 48.33 52.29 54.06
DHBK 42.60 41.60 42.17 42.53 43.10 43.67 44.03 44.60 46.23 48.52 50.84
QIBK 103.10 101.17 102.27 102.96 104.07 105.17 105.86 106.97 113.94 114.07 109.48
QIIK 62.70 61.90 62.28 62.52 62.90 63.28 63.52 63.90 68.66 72.11 75.75
Insurance
QATI 80.70 78.23 79.42 80.15 81.33 82.52 83.25 84.43 86.77 91.19 90.92
Consumer Goods & Services
MCGS 115.00 107.87 110.43 112.01 114.57 117.13 118.71 121.27 135.69 151.79 161.78
Industrials
IQCD 105.80 103.40 104.51 105.19 106.30 107.41 108.09 109.20 109.72 118.63 128.92
QEWS 209.00 207.60 208.40 208.90 209.70 210.50 211.00 211.80 209.93 210.90 211.17
GISS 48.70 47.83 48.33 48.64 49.13 49.63 49.94 50.43 54.58 59.05 70.40
QIGD 35.35 33.42 34.24 34.75 35.57 36.39 36.90 37.72 40.03 43.42 46.28
Real Estate
BRES 38.35 37.45 37.97 38.28 38.80 39.32 39.63 40.15 41.45 42.91 46.30
UDCD 19.75 19.41 19.60 19.73 19.92 20.11 20.24 20.43 21.74 22.85 23.12
ERES 15.20 14.72 14.98 15.13 15.39 15.65 15.80 16.06 16.90 17.77 17.63
MRDS 14.00 13.81 13.92 13.99 14.09 14.20 14.27 14.37 15.07 15.70 17.07
Telecommunication
ORDS 72.00 71.07 71.60 71.93 72.47 73.00 73.33 73.87 72.74 73.40 83.07
VFQS 12.13 11.93 12.04 12.10 12.21 12.32 12.38 12.49 12.53 13.33 15.09
Transportation
QGTS 22.85 22.64 22.74 22.80 22.91 23.01 23.07 23.18 23.92 23.23 22.82
QNNS 92.80 92.33 92.49 92.58 92.73 92.89 92.98 93.13 96.55 96.80 97.67
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
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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