Qatar stock exchange

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Daily Technical Trader – Qatar
Wednesday, 09 September 2015
Stocks Covered Today
Ticker Price 1
st
Target
GISS 59.80 62.50
ERES 18.49 18.70
QSE Index
Level % Ch. Vol. (mn)
Last 11,430.47 0.98 4.9
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 QE Index ended the last session on a
positive note. Based on the short-term
movement, it may continue further in the
green. Momentum indicators are giving
encouraging signs; MACD on the intraday
chart is becoming positive; the Histogram
on the daily is also positive. We expect the
11,600 level will be tested again then the
11,760 level.
Expected Resistance Level: 11,600
Expected Support Level: 11,300
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 08 Sep 07 Sep %Ch.
Value Traded (QR mn) 313.5 237.1 32.2
Ex. Mkt. Cap. (QR bn) 603.3 598.0 0.9
Volume (mn) 7.2 5.6 29.2
Number of Trans. 4,603 3,901 18.0
Companies Traded 41 41 0.0
Market Breadth 33:6 21:18 –
QE Indices
Market Indices Close 1D% RSI
Total Return 17,767.03 1.0 49.2
All Share Index 3,037.86 0.9 47.7
Banks 3,104.18 0.7 55.3
Industrials 3,460.97 0.8 39.9
Transportation 2,408.00 2.7 53.1
Real Estate 2,632.30 1.0 48.9
Insurance 4,624.03 1.6 47.5
Telecoms 941.82 0.2 38.8
Consumer 6,703.68 0.7 43.0
Al Rayan Islamic 4,330.39 0.7 43.3
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 39.50 0.0 19.8
MCCS 93.70 0.2 20.1
QIMD 40.60 1.1 22.8
AKHI 33.20 0.5 25.9
DOHI 23.55 0.0 26.6
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GISS
Price % Ch. Volume
Last 59.80 2.75 655,386
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 60.00 62.50 64.70
Support 56.40 55.00 53.60
Commentary
Overview:
GISS has been in a downtrend but could
be in the process rebounding. The daily
chart shows positive divergence between
the price action and the RSI. The
Histogram is ticking up and the MACD on
the hourly chart is above the zero line.
Expected Target Price: QR62.50 –
QR64.70
A breakaway above QR60.00 triggers the
buy recommendation.
Suggested Stop-Loss Price: QR56.40
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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ERES
Price % Ch. Volume
Last 18.49 1.20 706,085
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 18.50 18.70 18.90
Support 18.00 17.50 17.00
Commentary
Overview:
ERES has been in an uptrend over the
medium term, but in a range over the
short term. The good news is that the
price is trying to break above the upper
side of that range (at QR18.50). And once
it does, we may see a nice rally from
these levels.
Expected Target Price: QR18.70 –
QR18.90
A breakaway above QR18.50 triggers the
buy recommendation.
Suggested Stop-Loss Price: QR18.00
(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 11,430.47 11,234.90 11,293.53 11,329.74 11,388.36 11,446.99 11,483.20 11,541.82 11,686.25 11,918.37 12,029.67
Total Return 17,767.03 17,463.06 17,554.17 17,610.46 17,701.58 17,792.69 17,848.98 17,940.10 18,164.37 18,523.40 18,433.36
All Share 3,037.86 2,987.83 3,002.76 3,011.99 3,026.93 3,041.86 3,051.09 3,066.03 3,122.96 3,184.37 3,169.55
Al Rayan Islamic 4,330.39 4,262.14 4,282.73 4,295.45 4,316.04 4,336.63 4,349.35 4,369.94 4,530.73 4,593.26 4,413.77
Banks & Financials Services
MARK 42.45 41.68 41.95 42.12 42.38 42.65 42.82 43.08 44.18 45.53 45.92
CBQK 55.00 54.67 54.82 54.91 55.07 55.22 55.31 55.47 55.70 55.78 58.49
DHBK 50.50 49.57 49.95 50.18 50.57 50.95 51.18 51.57 52.44 53.29 54.30
QIBK 113.40 111.20 111.93 112.37 113.10 113.83 114.27 115.00 109.15 107.11 104.72
QIIK 74.80 72.53 73.22 73.65 74.33 75.02 75.45 76.13 77.40 78.70 80.18
Insurance
QATI 96.00 92.67 93.85 94.58 95.77 96.95 97.68 98.87 98.03 94.57 85.63
Consumer Goods & Services
MCGS 167.50 162.50 164.22 165.28 167.00 168.72 169.78 171.50 176.62 176.33 154.63
Industrials
IQCD 129.00 124.53 125.95 126.82 128.23 129.65 130.52 131.93 133.69 137.49 146.53
QEWS 211.00 209.20 210.19 210.81 211.80 212.79 213.41 214.40 217.42 216.01 202.79
GISS 59.80 56.67 57.62 58.21 59.17 60.12 60.71 61.67 68.81 75.63 85.71
QIGD 46.00 43.33 44.33 44.94 45.93 46.93 47.54 48.53 49.68 50.56 45.71
Real Estate
BRES 42.20 41.60 41.79 41.91 42.10 42.29 42.41 42.60 47.89 49.36 47.52
UDCD 23.10 22.87 22.94 22.98 23.04 23.11 23.15 23.21 24.51 23.92 23.72
ERES 18.49 18.10 18.21 18.28 18.39 18.50 18.57 18.68 17.86 17.91 16.83
MRDS 15.56 15.05 15.28 15.42 15.65 15.88 16.02 16.25 17.48 18.22 18.34
Telecommunication
ORDS 68.50 66.90 67.47 67.83 68.40 68.97 69.33 69.90 77.94 86.23 99.29
VFQS 13.55 13.26 13.37 13.44 13.55 13.66 13.73 13.84 15.22 16.12 16.44
Transportation
QGTS 22.01 20.56 21.05 21.35 21.83 22.32 22.62 23.10 21.94 22.23 22.77
QNNS 97.80 96.60 96.98 97.22 97.60 97.98 98.22 98.60 97.05 97.88 98.92
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
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the 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
and completeness of the information it may contain, and declines any liability in that respect. For reports dealing with Technical Analysis, expressed opinions and/or recommendations may be different or
contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume). QNBFS reserves the right to amend the
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