The document provides a daily market summary and analysis of stocks and indices in Qatar. It discusses the performance of the QSE Index and notes it closed slightly lower. It also provides commentary and technical analysis on two stocks, IHGS and SISI, noting levels of support and resistance and signals on the charts. The rest of the document gives details on market indicators, index performance, stock movements and technical support/resistance levels.

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Daily Technical Trader – Qatar
Sunday, 28 February 2016
Stocks Covered Today
Ticker Price Target
IHGS 60.00 63.00
SIIS 13.00 12.42
QSE Index
Level % Ch. Vol. (mn)
Last 9,847.36 -0.71 6.4
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,000 10,250 10,350
Support 9,800 9,600 9,400
QSE Index Commentary
Overview:
We can see a Double-Top formation on
the intra-day chart. This is a reversing
pattern on the short-term. A break below
the 9,800 will give a stronger
confirmation for that pattern.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 25 Feb 24 Feb %Ch.
Value Traded (QR mn) 329.0 334.8 -1.8
Ex. Mkt. Cap. (QR bn) 523.3 528.6 -1.0
Volume (mn) 10.8 9.8 10.2
Number of Trans. 5,310 6,037 -12.0
Companies Traded 40 39 2.6
Market Breadth 16:18 13:24 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,598.64 -0.2 60.7
All Share Index 2,673.51 -0.3 61.4
Banks 2,684.63 -1.1 60.1
Industrials 2,953.22 -0.3 60.2
Transportation 2,394.93 -0.6 61.0
Real Estate 2,220.55 1.5 57.9
Insurance 4,185.51 -0.6 62.1
Telecoms 1,060.65 -0.2 62.1
Consumer Goods 5,980.14 0.9 66.6
Al Rayan Islamic 3,613.76 0.4 59.9
RSI 14 (Over Bought)
Ticker Close 1D% RSI
SIIS 13.00 0.0 78.2
QIGD 39.30 0.0 70.4
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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IHGS
Price % Ch. Volume
Last 60.00 4.53 337,769
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 60.00 63.00 66.00
Support 56.80 56.00 50.00
Commentary
Overview:
Although we are not big fans of chasing
breakouts, we are putting this one as an
exception. The name bounced off the
lower side of the downtrend channel, and
facing huge resistance around the
QR60.00 level. A sustained price break
above that level will create the Double-
Bottom formation.
Expected Target Price: QR63.00 – QR66.00
A price breakaway above QR60.00
triggers the buy recommendation.
Suggested Stop-Loss Price: QR56.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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SIIS
Price % Ch. Volume
Last 13.00 0.00 2,960,540
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 13.50 14.00 14.25
Support 12.77 12.42 11.80
Commentary
Overview:
Lately, we sent out two buy
recommendations on the name (on the 7
th
and the 15
th
of this month). Now that the
name was in a virtual take-off due to the
proposed dividends (QR1.00 in cash for
2015), the name might extend its gains.
Having said that, we see a caution signal,
stemming from the long-legged Doji
candlestick. That candlestick signifies
possible supply/demand equilibrium in
the short term. That usually precedes a
correction, but nothing certain yet.
Expected Price Retreat: QR12.42 –
QR11.80
A price breach below QR12.77 triggers 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 9,847.36 9,780.99 9,809.57 9,827.23 9,855.81 9,884.39 9,902.05 9,930.63 9,657.98 10,366.98 11,097.13
Total Return 15,598.64 15,493.51 15,538.78 15,566.75 15,612.02 15,657.29 15,685.26 15,730.53 15,033.50 16,124.77 17,253.58
All Share 2,673.51 2,658.58 2,665.45 2,669.69 2,676.56 2,683.43 2,687.67 2,694.54 2,575.27 2,762.35 2,959.96
Al Rayan Islamic 3,613.76 3,585.84 3,595.82 3,601.98 3,611.96 3,621.94 3,628.10 3,638.08 3,497.07 3,835.04 4,195.46
Banks & Financials Services
MARK 35.30 34.77 34.92 35.01 35.17 35.32 35.41 35.57 34.74 37.73 41.20
CBQK 42.80 42.47 42.60 42.68 42.82 42.95 43.03 43.17 42.42 46.91 51.25
DHBK 41.55 41.12 41.36 41.52 41.77 42.01 42.17 42.42 39.95 43.96 48.33
QIBK 95.30 93.90 94.70 95.20 96.00 96.80 97.30 98.10 96.82 106.92 108.02
QIIK 68.30 67.57 67.80 67.94 68.17 68.40 68.54 68.77 63.24 67.74 72.82
Insurance
QATI 77.90 77.17 77.59 77.85 78.27 78.69 78.95 79.37 74.01 78.09 83.00
Consumer Goods & Services
MCGS 94.40 92.60 93.33 93.77 94.50 95.23 95.67 96.40 100.84 125.55 150.73
Industrials
IQCD 104.00 101.93 102.74 103.23 104.03 104.84 105.33 106.13 101.93 108.64 121.59
QEWS 194.90 191.50 193.45 194.65 196.60 198.55 199.75 201.70 199.01 204.62 210.74
GISS 35.30 33.40 34.26 34.79 35.65 36.51 37.04 37.90 41.88 50.83 61.33
QIGD 39.30 N/A N/A N/A N/A N/A N/A N/A 32.09 37.49 43.91
Real Estate
BRES 36.55 35.72 36.04 36.24 36.57 36.89 37.09 37.42 35.51 39.32 43.85
UDCD 21.90 21.67 21.77 21.82 21.91 22.01 22.06 22.15 19.58 21.27 22.66
ERES 15.14 14.49 14.69 14.82 15.03 15.23 15.36 15.57 14.55 16.26 17.21
MRDS 11.89 11.72 11.79 11.83 11.89 11.96 12.00 12.06 12.48 14.13 15.95
Telecommunication
ORDS 88.00 86.67 87.43 87.90 88.67 89.43 89.90 90.67 77.64 76.04 79.30
VFQS 10.28 10.17 10.23 10.27 10.34 10.40 10.44 10.51 11.12 12.21 13.89
Transportation
QGTS 23.63 23.36 23.49 23.57 23.69 23.82 23.90 24.02 22.14 23.12 22.67
QNNS 95.00 94.40 94.74 94.96 95.30 95.64 95.86 96.20 91.40 94.40 96.06
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 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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direct or 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
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