Good news and bad news on the Index. It didn't close below the 9,800 yet could not penetrate the 10,000 and above. Too many tops to watch out for (seen on the intra-day chart), but nothing is unbreakable

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Daily Technical Trader – Qatar
Monday, 29 February 2016
Stocks Covered Today
Ticker Price Target
BRES 37.00 38.50
MRDS 12.07 12.40
QSE Index
Level % Ch. Vol. (mn)
Last 9,927.94 0.82 6.8
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:
Good news and bad news on the Index. It
didn't close below the 9,800 yet could not
penetrate the 10,000 and above. Too
many tops to watch out for (seen on the
intra-day chart), but nothing is
unbreakable.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 28 Feb 25 Feb %Ch.
Value Traded (QR mn) 399.1 329.0 21.3
Ex. Mkt. Cap. (QR bn) 527.4 523.3 0.8
Volume (mn) 12.1 10.8 12.4
Number of Trans. 5,314 5,310 0.1
Companies Traded 38 40 -5.0
Market Breadth 28:6 16:18 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,726.28 0.8 59.9
All Share Index 2,695.63 0.8 60.3
Banks 2,696.87 0.5 56.0
Industrials 2,982.43 1.0 59.3
Transportation 2,406.65 0.5 59.2
Real Estate 2,252.36 1.4 60.6
Insurance 4,198.78 0.3 59.9
Telecoms 1,065.54 0.5 61.2
Consumer Goods 6,115.14 2.3 68.1
Al Rayan Islamic 3,657.86 1.2 60.7
RSI 14 (Over Bought)
Ticker Close 1D% RSI
SIIS 12.87 -1.0 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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BRES
Price % Ch. Volume
Last 37.00 1.23 1,270,432
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 37.35 38.50 39.15
Support 35.40 34.50 33.25
Commentary
Overview:
BRES is in a tight spot. It is cornered
between the medium term downtrend line
(seen in red) and the short-term uptrend
line. The momentum, on the other hand,
is picking up slightly. It is a risky trade; if
it does take place, it might break through
and above the downtrend line.
Expected Target Price: QR38.50 – QR39.15
A price breakaway above QR37.35
triggers the buy recommendation.
Suggested Stop-Loss Price: QR35.40
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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MRDS
Price % Ch. Volume
Last 12.07 1.51 372,936
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 12.15 12.40 12.65
Support 11.50 11.20 11.00
Commentary
Overview:
The price remains in a major downtrend
but it might be in bounce mode. The price
created higher tops and higher bottoms.
Expected Target Price: QR12.40 – QR12.65
A price breakaway above QR12.15
triggers the buy recommendation.
Suggested Stop-Loss Price: QR11.50
(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 9,927.94 9,773.14 9,824.22 9,855.77 9,906.85 9,957.93 9,989.48 10,040.56 9,659.13 10,348.60 11,084.94
Total Return 15,726.28 15,481.06 15,561.97 15,611.96 15,692.87 15,773.78 15,823.77 15,904.68 15,041.13 16,099.12 17,236.11
All Share 2,695.63 2,656.60 2,669.23 2,677.03 2,689.66 2,702.29 2,710.09 2,722.72 2,576.51 2,757.99 2,956.92
Al Rayan Islamic 3,657.86 3,578.52 3,603.44 3,618.84 3,643.76 3,668.68 3,684.08 3,709.00 3,497.72 3,826.88 4,190.03
Banks & Financials Services
MARK 35.15 34.85 34.96 35.04 35.15 35.26 35.34 35.45 34.76 37.64 41.14
CBQK 43.00 42.60 42.81 42.94 43.15 43.36 43.49 43.70 42.37 46.77 51.19
DHBK 42.00 41.80 41.86 41.89 41.95 42.01 42.04 42.10 39.90 43.88 48.26
QIBK 96.00 93.47 94.73 95.51 96.77 98.03 98.81 100.07 96.59 106.71 107.97
QIIK 68.40 67.33 67.83 68.14 68.63 69.13 69.44 69.93 63.38 67.67 72.76
Insurance
QATI 78.10 77.97 78.04 78.09 78.17 78.24 78.29 78.37 74.09 77.99 83.00
Consumer Goods & Services
MCGS 100.30 90.10 93.69 95.91 99.50 103.09 105.31 108.90 100.55 124.69 150.34
Industrials
IQCD 104.00 101.80 102.64 103.16 104.00 104.84 105.36 106.20 102.03 108.45 121.37
QEWS 195.00 191.80 193.44 194.46 196.10 197.74 198.76 200.40 198.83 204.42 210.63
GISS 37.00 35.20 35.72 36.03 36.55 37.07 37.38 37.90 41.60 50.53 61.07
QIGD 39.30 N/A N/A N/A N/A N/A N/A N/A 32.19 37.42 43.85
Real Estate
BRES 37.00 35.97 36.33 36.55 36.92 37.28 37.50 37.87 35.48 39.24 43.78
UDCD 22.00 21.57 21.74 21.84 22.02 22.19 22.29 22.47 19.63 21.24 22.65
ERES 15.40 14.81 15.00 15.12 15.30 15.49 15.61 15.79 14.55 16.22 17.20
MRDS 12.07 11.90 11.97 12.01 12.08 12.15 12.19 12.26 12.45 14.09 15.92
Telecommunication
ORDS 88.40 87.87 88.13 88.30 88.57 88.83 89.00 89.27 78.00 76.14 79.23
VFQS 10.33 10.22 10.26 10.29 10.34 10.38 10.41 10.46 11.11 12.17 13.85
Transportation
QGTS 23.82 23.31 23.49 23.60 23.78 23.96 24.07 24.25 22.16 23.12 22.67
QNNS 95.20 93.53 94.11 94.46 95.03 95.61 95.96 96.53 91.46 94.37 96.03
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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