- The document provides a daily technical analysis of stocks and indexes in the Qatari market. - It analyzes the performance of the QSE Index and individual stocks such as MERS and MCGS. Technical indicators like support/resistance levels and moving averages are mentioned. - In conclusion, the QSE Index is in an upward motion in the short-term but needs to break above 9,650 to maintain its positive momentum. MERS remains in a downtrend while profits may need to be booked on MCGS after it created a bearish candle.

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Daily Technical Trader – Qatar
Thursday, 04 February 2016
Stocks Covered Today
Ticker Price 1
st
Target
MERS 191.10 184.20
MCGS 98.50 90.50
QSE Index
Level % Ch. Vol. (mn)
Last 9,486.71 -1.52 6.0
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,600 9,800 10,000
Support 9,400 9,150 9,000
QSE Index Commentary
Overview:
The QSE Index remains in an upward
motion in the short-term to say the least.
Breaking above the 9,650 is essential to
maintain its positive correction. Otherwise,
the Index could drop all the way to 9,150
once after breaching below the 9,400
support.
Expected Resistance Level: 9,600
Expected Support Level: 9,400
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 03 Feb 02 Feb %Ch.
Value Traded (QR mn) 212.3 317.1 -33.0
Ex. Mkt. Cap. (QR bn) 506.7 514.0 -1.4
Volume (mn) 5.9 9.0 -33.9
Number of Trans. 4,282 5,042 -15.1
Companies Traded 40 40 0.0
Market Breadth 8:30 26:11 –
QE Indices
Market Indices Close 1D% RSI
Total Return 14,795.47 -1.5 51.7
All Share Index 2,529.68 -1.4 51.5
Banks 2,590.40 -1.0 53.9
Industrials 2,764.64 -3.2 45.5
Transportation 2,263.55 0.5 52.5
Real Estate 2,041.04 -0.9 48.8
Insurance 3,996.67 -2.6 54.3
Telecoms 1,051.44 -0.1 66.1
Consumer 5,321.57 -0.8 51.6
Al Rayan Islamic 3,366.10 -1.3 48.0
RSI 14 (Over Bought)
Ticker Close 1D% RSI
ORDS 86.30 0.6 70.8
RSI 14 (Over Sold)
Ticker Close 1D% RSI
DBIS 12.00 -5.1 17.3
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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MERS
Price % Ch. Volume
Last 191.10 -1.24 5,198
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 200.00 205.00 212.00
Support 190.60 184.20 180.00
Commentary
Overview:
The name corrected up and reached the
previous trough made last December, and
the 50SMA. The price created two
Shooting Stars, which are bearish in
nature. MERS remains in a downtrend.
Expected Target Price: QR184.20 –
QR180.00
A price breach below QR190.60 triggers
the sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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MCGS
Price % Ch. Volume
Last 98.50 1.03 169,384
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 103.90 108.00 109.30
Support 96.10 90.50 85.20
Commentary
Overview:
Last Monday, we sent out a buy
recommendation on the name and it the
name reached both of our expected
targets at QR90.40 and QR94.20. It also
continued its move to QR103.90. If you
did not sell yet, you might need to keep
your eyes on the screen. The name
created a bearish reversal candle (the
Shooting Star). As a result, booking profits
might be on the horizon.
Expected Target Price: QR90.50 –
QR85.20
A price breach below QR96.10 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 9,486.71 9,272.05 9,344.07 9,388.56 9,460.58 9,532.60 9,577.09 9,649.11 9,792.37 10,607.91 11,261.98
Total Return 14,795.47 14,460.69 14,573.01 14,642.40 14,754.72 14,867.04 14,936.43 15,048.75 15,222.83 16,489.48 17,504.65
All Share 2,529.68 2,476.87 2,494.71 2,505.74 2,523.59 2,541.43 2,552.46 2,570.31 2,609.48 2,824.51 3,004.02
Al Rayan Islamic 3,366.10 3,287.06 3,314.30 3,331.14 3,358.38 3,385.62 3,402.46 3,429.70 3,585.39 3,954.80 4,273.70
Banks & Financials Services
MARK 33.85 32.52 32.99 33.29 33.77 34.24 34.54 35.02 35.15 38.81 42.14
CBQK 40.55 39.68 40.01 40.21 40.53 40.86 41.06 41.38 43.41 48.73 52.25
DHBK 36.90 35.70 36.04 36.26 36.60 36.94 37.16 37.50 41.63 45.48 49.37
QIBK 92.50 89.63 91.12 92.04 93.53 95.02 95.94 97.43 101.24 109.26 108.26
QIIK 64.00 63.20 63.62 63.88 64.30 64.72 64.98 65.40 63.31 68.88 73.77
Insurance
QATI 82.20 80.60 81.36 81.84 82.60 83.36 83.84 84.60 81.26 87.09 90.93
Consumer Goods & Services
MCGS 98.50 91.70 94.68 96.52 99.50 102.48 104.32 107.30 109.30 135.19 155.79
Industrials
IQCD 100.00 96.27 97.64 98.49 99.87 101.24 102.09 103.47 102.13 111.66 124.51
QEWS 190.00 183.40 185.84 187.36 189.80 192.24 193.76 196.20 201.40 206.61 211.42
GISS 38.70 38.70 38.70 38.70 38.70 38.70 38.70 38.70 47.18 54.95 65.16
QIGD 27.25 26.68 26.93 27.09 27.33 27.58 27.74 27.98 33.72 39.38 45.00
Real Estate
BRES 31.65 30.75 31.07 31.28 31.60 31.92 32.13 32.45 36.98 40.38 44.85
UDCD 18.19 17.75 17.88 17.95 18.08 18.21 18.28 18.41 19.63 21.68 22.81
ERES 14.50 13.91 14.11 14.23 14.44 14.64 14.76 14.97 14.93 16.84 17.38
MRDS 11.38 11.09 11.20 11.26 11.36 11.47 11.53 11.63 13.36 14.76 16.48
Telecommunication
ORDS 86.30 81.90 83.39 84.31 85.80 87.29 88.21 89.70 73.17 74.36 80.15
VFQS 10.62 10.43 10.52 10.57 10.65 10.74 10.79 10.87 11.44 12.63 14.36
Transportation
QGTS 22.25 20.22 20.95 21.40 22.14 22.87 23.32 24.06 22.28 23.07 22.65
QNNS 87.50 86.17 86.55 86.78 87.17 87.55 87.78 88.17 92.48 95.21 96.54
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 6535
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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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
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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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