The Index corrected further as we expected and could continue with this correction in the short term. Remaining above the 6,000 is vital; the Index remains in a short-term uptrend if it remains above that level.

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Daily Technical Trader – KSA
Monday, 04 April 2016
Stock Covered Today
Ticker Price (SAR) 1
st
Target
BJAZ 13.14 13.64
TASI All Share Index
Level % Ch. Vol. (mn)
Last 6,126.12 -1.56 183.4
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,170 6,260 6,450
Support 6,100 6,000 5,750
TASI All Share Index Commentary
Overview:
The Index corrected further as we
expected and could continue with this
correction in the short term. Remaining
above the 6,000 is vital; the Index remains
in a short-term uptrend if it remains
above that level.
Expected Resistance Level: 6,170
Expected Support Level: 6,100
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 03 Apr 31 Mar %Ch.
Value (SAR bn) 4.0 4.5 -10.7
Mkt. Cap. (SAR bn) 1,413.5 1,437.3 -1.7
Volume (mn) 212.5 217.4 -2.3
Transactions 111,748 116,341 -3.9
Companies Traded 168 168 0.0
Market Breadth 12:156 60:104 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 13,856.89 -1.46 39.16
Petrochem 3,922.89 -2.15 44.60
Cement 4,307.09 -1.05 42.00
Retail 9,433.70 -2.07 35.80
Energy and Utilities 5,616.39 -1.55 43.82
Agriculture and Food 7,591.55 -1.02 44.76
Telecom 1,531.67 -3.28 45.02
Insurance 1,103.09 -3.89 47.23
Multi-Investment 2,713.54 -1.73 44.53
Industrial Invest. 5,468.41 0.62 41.52
Building and Const. 1,874.50 -2.57 41.44
RE Development 5,772.92 -0.40 53.50
Transportation 6,825.93 0.77 58.74
Media & Publishing 2,591.12 -6.00 36.45
Hotel and Tourism 9,105.70 -2.44 34.93
RSI 14 (Over Bought) From Page 3 Table
Name Close 1D% RSI
RSI 14 (Over Sold) From Page 3 Table
Name Close 1D% RSI
TASI (30min)
Source: Bloomberg, QNBFS Research

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BANK AL-JAZIRA
Price (SAR) % Ch. Volume
Last 13.14 -1.20 4,455,307
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 13.35 13.64 13.88
Support 12.90 12.50 12.30
Commentary
Overview:
A buy recommendation kicked off our
coverage of Saudi equities. The price
reached our second target (over 3.7%
from trigger price) and way beyond. Then
a correction started to take place and still
is. That been said, we see that a change in
the direction upwards could spark another
short-term rally.
Expected Price Retreat: SAR13.64 –
SAR13.88
A price breakaway above SAR13.35
triggers the buy recommendation.
Suggested Stop-Loss Price: SAR12.50
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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Intraday Fibonacci Sup/Res Levels for the Most Active in Traded Value 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
ADVANCED PETROCH 39.75 38.52 39.01 39.32 39.82 40.31 40.62 41.12 37.72 39.40 44.58
AL ALAMIYA COOPE 28.97 26.99 28.10 28.78 29.89 31.00 31.68 32.79 30.21 42.99 50.01
AL RAJHI BANK 51.50 49.33 50.00 50.41 51.08 51.75 52.16 52.83 52.11 51.16 54.58
AL TAYYAR TRAVEL 34.58 33.66 34.04 34.28 34.66 35.04 35.28 35.66 38.62 51.63 68.26
ALANDALUS PROPER 19.53 18.14 18.79 19.19 19.84 20.49 20.89 21.54 20.97 N/A N/A
ALINMA BANK 12.67 12.49 12.57 12.61 12.69 12.77 12.81 12.89 13.23 13.62 16.44
ALINMA TOKIO MAR 18.02 16.51 17.19 17.62 18.31 18.99 19.42 20.11 19.59 20.68 21.12
ASH-SHARQIYAH DE 38.10 35.23 36.46 37.21 38.43 39.66 40.41 41.63 39.54 46.28 56.56
BANK AL-JAZIRA 13.14 12.71 12.87 12.96 13.11 13.27 13.36 13.51 13.09 14.39 18.78
BUPA ARABIA 114.41 108.80 111.00 112.36 114.55 116.75 118.11 120.30 110.40 108.91 115.90
CO FOR COOPERATI 76.10 72.20 74.11 75.29 77.20 79.11 80.29 82.20 72.93 73.57 81.98
DAR AL ARKAN REA 5.03 4.81 4.91 4.96 5.06 5.16 5.21 5.31 4.84 5.42 6.51
EMAAR ECONOMIC C 13.83 13.48 13.65 13.75 13.93 14.10 14.20 14.38 13.06 12.23 12.14
ETIHAD ETISALAT 28.79 27.86 28.25 28.48 28.86 29.25 29.48 29.86 25.20 26.44 28.01
JABAL OMAR DEVEL 56.48 52.83 53.97 54.68 55.83 56.97 57.68 58.83 51.67 52.66 59.43
KNOWLEDGE ECON 13.32 12.74 12.99 13.14 13.39 13.64 13.79 14.04 11.96 13.15 16.88
MALATH INSURANCE 13.80 12.87 13.29 13.55 13.97 14.39 14.65 15.07 14.09 17.01 21.86
MEDITERRANEAN & 19.44 18.15 18.78 19.17 19.80 20.43 20.82 21.45 18.45 21.52 26.76
MOBILE TELECOMMU 8.40 8.07 8.22 8.31 8.47 8.62 8.71 8.87 6.77 7.49 8.87
NATIONAL COMM 39.63 38.74 39.16 39.42 39.84 40.26 40.52 40.94 40.37 44.79 51.36
NATIONAL SHIPPIN 42.96 41.32 41.82 42.12 42.62 43.12 43.42 43.92 38.47 41.37 42.41
RABIGH REFINING 10.20 9.93 10.05 10.12 10.23 10.35 10.42 10.53 9.81 11.08 14.86
SABB TAKAFUL 23.97 22.06 22.97 23.54 24.46 25.37 25.94 26.86 24.04 28.06 34.64
SABIC 74.36 72.45 73.12 73.53 74.20 74.87 75.28 75.95 72.02 75.92 81.88
SAPTCO 11.98 11.66 11.77 11.85 11.96 12.07 12.15 12.26 11.41 14.09 18.21
SASCO 15.89 15.23 15.50 15.66 15.93 16.20 16.36 16.63 15.73 18.65 22.28
SAUDI ARABIAN MI 29.54 27.58 28.19 28.57 29.18 29.79 30.17 30.78 30.42 31.79 33.17
SAUDI CERAMIC CO 37.95 37.25 37.48 37.62 37.85 38.08 38.22 38.45 37.53 42.36 54.60
SAUDI GROUND SER 40.74 38.65 39.30 39.70 40.35 41.00 41.40 42.05 42.00 43.82 N/A
SAUDI KAYAN PETR 4.96 4.82 4.88 4.91 4.97 5.03 5.06 5.12 4.97 6.06 7.77
SAUDI PAPER MANU 12.53 11.58 12.04 12.32 12.78 13.24 13.52 13.98 13.63 15.65 17.48
SAUDI PRINTING & 18.87 17.66 18.29 18.68 19.31 19.94 20.33 20.96 20.73 22.05 19.43
SAUDI RESEARCH A 38.52 34.91 36.24 37.07 38.41 39.74 40.57 41.91 42.17 43.88 30.07
SAUDI TELECOM CO 61.56 59.69 60.74 61.39 62.44 63.49 64.14 65.19 65.10 65.29 65.03
SAUDI TRANSPORT 49.22 48.14 48.60 48.88 49.34 49.80 50.08 50.54 52.28 57.08 60.08
SHAMS 33.07 30.56 31.70 32.41 33.56 34.70 35.41 36.56 36.36 36.21 37.90
THIMAR 30.17 27.66 28.80 29.51 30.66 31.80 32.51 33.66 33.31 35.16 45.69
TIHAMA 32.97 30.46 31.56 32.25 33.36 34.46 35.15 36.26 34.80 31.54 46.87
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 Intraday 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 6509
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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