Qatar stock exchangeQatar stock exchange

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Daily Technical Trader – Qatar
Monday, 09 March 2015
Stocks Covered Today
Ticker Price Target
GISS 95.50 98.50
VFQS 17.64 16.95
QSE Index
Level % Ch. Vol. (mn)
Last 12,144.01 0.0 4.5
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 12,250 12,350 12,600
Support 12,100 12,000 11,800
QSE Index Commentary
Overview:
The QSE Index closed flat, creating a very
small Harami candlestick. Traded volumes
dropped significantly (-25% from last
Thursday’s session). The Index is looking
for a direction over the short-term. Hence,
we expect the market to remain weak in
the coming sessions.
Expected Resistance Level: 12,350
Expected Support Level: 12,000
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 08 Mar 15 05 Mar 15 %Ch.
Value Traded (QR mn) 251.1 336.4 -25.4
Ex. Mkt. Cap. (QR bn) 660.7 660.5 0.0
Volume (mn) 5.3 6.3 -14.6
Number of Trans. 3,887 3,918 -0.8
Companies Traded 41 43 -4.7
Market Breadth 20:19 18:21 –
QE Indices
Market Indices Close 1D% RSI
Total Return 18,571.66 0.0 48.0
All Share Index 3,207.87 0.0 49.2
Banks 3,230.73 -0.2 46.1
Industrials 4,040.26 0.5 55.5
Transportation 2,497.82 1.3 66.6
Real Estate 2,390.77 -0.9 43.6
Insurance 4,120.26 0.8 63.0
Telecoms 1,418.62 0.5 50.3
Consumer 7,159.78 -0.2 39.6
Al Rayan Islamic 4,361.48 -0.3 52.3
RSI 14 (Over Bought)
Ticker Close 1D% RSI
QGRI 70.90 5.0 72.0
RSI 14 (Over Sold)
Ticker Close 1D% RSI
DHBK 53.30 0.6 29.3
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GISS
Price % Ch. Volume
Last 95.50 1.60 142,721
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 96.00 98.50 99.40
Support 94.30 93.00 91.30
Commentary
Overview:
The name started to stabilize above
QR90.00. Technical indicators, although
on the bearish side, are showing possible
signs of recovery. Thus we might see a
bounce from these levels but not a change
in the overall downtrend. However, the
stock could reach the upper side of the
channel denoted in red on the intraday
chart.
Expected Target Price: QR98.50 – 99.40
GISS needs to break above QR96.00 to
trigger the buy recommendation.
Suggested Stop-Loss Price: QR94.30
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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VFQS
Price % Ch. Volume
Last 17.64 -0.34 450,409
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 18.15 18.30 19.50
Support 17.50 16.95 16.35
Commentary
Overview:
Technical indicators are flat and are not
giving any solid signs for any clear
direction. However, we might be able to
stem some clues from the price formation
that took place over the last month. The
name is trading above an important
support level of QR17.50. Thus, a break
below the mentioned support could take
the price to the next support levels.
Expected Price Retreat: QR16.95 –
QR16.35
A break below QR17.50 is needed to
trigger the sell recommendation.
(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 12,144.01 12,063.66 12,088.38 12,103.65 12,128.36 12,153.08 12,168.35 12,193.06 12,234.74 12,662.12 12,956.73
Total Return 18,571.66 18,448.79 18,486.58 18,509.93 18,547.73 18,585.52 18,608.87 18,646.67 18,347.09 18,934.98 19,349.14
All Share 3,207.87 3,186.82 3,193.03 3,196.87 3,203.08 3,209.29 3,213.13 3,219.34 3,158.54 3,240.47 3,295.81
Al Rayan Islamic 4,361.48 4,334.88 4,345.02 4,351.28 4,361.42 4,371.56 4,377.82 4,387.96 4,212.30 4,303.30 4,387.54
Banks & Financials Services
MARK 45.00 44.53 44.80 44.97 45.23 45.50 45.67 45.93 46.23 47.63 51.11
CBQK 69.40 68.87 69.13 69.30 69.57 69.83 70.00 70.27 68.22 69.77 69.21
DHBK 53.30 51.70 52.16 52.44 52.90 53.36 53.64 54.10 57.28 57.46 58.75
QIBK 101.00 99.00 99.76 100.24 101.00 101.76 102.24 103.00 104.97 105.62 105.70
QIIK 86.50 84.37 85.02 85.42 86.07 86.72 87.12 87.77 82.94 83.30 84.68
Insurance
QATI 76.90 74.37 75.09 75.54 76.27 76.99 77.44 78.17 77.33 78.94 78.01
Consumer Goods & Services
MCGS 151.00 149.40 150.05 150.45 151.10 151.75 152.15 152.80 132.00 127.57 117.12
Industrials
IQCD 148.00 145.47 146.38 146.95 147.87 148.78 149.35 150.27 155.04 170.81 177.04
QEWS 190.00 189.80 189.91 189.99 190.10 190.21 190.29 190.40 192.09 189.23 188.09
GISS 95.50 91.90 93.01 93.69 94.80 95.91 96.59 97.70 99.18 104.50 106.87
QIGD 43.60 43.17 43.32 43.41 43.57 43.72 43.81 43.97 40.84 43.38 51.23
Real Estate
BRES 47.55 46.55 47.08 47.42 47.95 48.48 48.82 49.35 45.79 45.22 42.96
UDCD 24.46 24.10 24.23 24.30 24.43 24.56 24.63 24.76 24.15 25.01 26.19
ERES 15.57 15.36 15.46 15.51 15.60 15.70 15.75 15.84 15.51 16.71 19.17
MRDS 19.10 18.43 18.62 18.74 18.93 19.12 19.24 19.43 19.68 20.78 20.88
Telecommunication
ORDS 114.10 112.43 112.97 113.30 113.83 114.37 114.70 115.23 116.12 118.06 126.49
VFQS 17.64 17.36 17.47 17.55 17.66 17.77 17.85 17.96 16.43 17.43 18.76
Transportation
QGTS 24.94 24.34 24.52 24.63 24.81 24.99 25.10 25.28 23.87 23.66 23.74
QNNS 107.30 105.90 106.43 106.77 107.30 107.83 108.17 108.70 100.82 99.24 96.76
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 Badar Husain
Head of Research Senior Research Analyst Head of Trading
Tel: (+974) 4476 6534 Tel: (+974) 4476 6569 Tel: (+974) 4476 6547
saugata.sarkar@qnbfs.com.qa abdullah.amin@qnbfs.com.qa badar.husain@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
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
Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an offer,
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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
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