The QSE Index flirted with the 10,000 level but it could not sustain it and dropped, a bearish Harami candlestick pattern was created.

1. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 6
Daily Technical Trader – Qatar
Monday, 22 February 2016
Stocks Covered Today
Ticker Price Target
MERS 189.00 194.40
QGTS 22.70 21.80
QSE Index
Level % Ch. Vol. (mn)
Last 9,907.82 -0.60 8.7
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:
The QSE Index flirted with the 10,000
level but it could not sustain it and
dropped, a bearish Harami candlestick
pattern was created. The pattern carries
low bearish significance, but never the
less it is a sign that should not be ignored
around the 10,000 points.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 21 Feb 18 Feb %Ch.
Value Traded (QR mn) 458.5 392.1 16.9
Ex. Mkt. Cap. (QR bn) 526.8 529.0 -0.4
Volume (mn) 12.9 12.3 5.0
Number of Trans. 5,182 5,931 -12.6
Companies Traded 38 41 -7.3
Market Breadth 18:19 27:14 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,452.24 -0.6 58.4
All Share Index 2,646.70 -0.4 58.9
Banks 2,710.35 -0.5 60.9
Industrials 2,868.49 -0.3 54.2
Transportation 2,331.29 0.4 54.8
Real Estate 2,158.59 -1.0 55.7
Insurance 4,229.60 0.1 64.2
Telecoms 1,053.68 0.7 60.0
Consumer Goods 5,839.51 -1.0 64.9
Al Rayan Islamic 3,522.92 -0.3 55.3
RSI 14 (Over Bought)
Ticker Close 1D% RSI
SIIS 12.33 -0.6 72.7
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

2. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 2 of 6
MERS
Price % Ch. Volume
Last 189.00 2.16 16,277
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 189.10 194.40 197.50
Support 180.00 170.00 165.00
Commentary
Overview:
The name retreated and was the price
dipped as we sent a sell recommendation
on the name (sent out on the 11 of this
month). This retreat might have ended
and could be starting another positive
round.
Expected Target Price: QR194.40 –
QR197.50
A price breakaway above QR189.10
triggers the buy recommendation.
Suggested Stop-Loss Price: QR180.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

3. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 3 of 6
QGTS
Price % Ch. Volume
Last 22.70 0.44 437,352
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 23.00 23.70 24.20
Support 22.50 21.80 21.40
Commentary
Overview:
The price created three different, yet all
bearish, candlesticks. Without going into
the details, these candlesticks and their
formation exhibit a possible change in the
short-term momentum from buying to a
selling one.
Expected Price Retreat: QR21.80 –
QR21.40
A price breach below QR22.50 triggers the
sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

4. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 4 of 6
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 9,907.82 9,840.26 9,878.97 9,902.89 9,941.60 9,980.31 10,004.23 10,042.94 9,649.33 10,414.01 11,132.08
Total Return 15,452.24 15,346.88 15,407.25 15,444.55 15,504.92 15,565.29 15,602.59 15,662.96 15,011.73 16,193.71 17,305.77
All Share 2,646.70 2,630.05 2,639.44 2,645.24 2,654.64 2,664.03 2,669.83 2,679.23 2,571.75 2,774.03 2,969.08
Al Rayan Islamic 3,522.92 3,487.55 3,506.10 3,517.56 3,536.10 3,554.65 3,566.11 3,584.65 3,498.57 3,858.29 4,212.28
Banks & Financials Services
MARK 36.85 35.45 36.23 36.72 37.50 38.28 38.77 39.55 34.64 37.93 41.39
CBQK 42.70 42.10 42.42 42.63 42.95 43.27 43.48 43.80 42.52 47.30 51.46
DHBK 41.25 39.95 40.43 40.72 41.20 41.68 41.97 42.45 40.08 44.21 48.52
QIBK 100.00 98.40 99.32 99.88 100.80 101.72 102.28 103.20 97.41 107.42 108.10
QIIK 68.00 66.27 66.88 67.26 67.87 68.48 68.86 69.47 62.88 67.94 73.01
Insurance
QATI 88.50 N/A N/A N/A N/A N/A N/A N/A 80.97 86.11 91.24
Consumer Goods & Services
MCGS 95.80 89.40 91.62 92.98 95.20 97.42 98.78 101.00 102.39 127.83 151.97
Industrials
IQCD 106.00 103.33 104.86 105.81 107.33 108.86 109.81 111.33 101.37 109.03 122.21
QEWS 206.00 N/A N/A N/A N/A N/A N/A N/A 199.37 204.94 210.96
GISS 32.00 29.33 30.10 30.57 31.33 32.10 32.57 33.33 42.75 51.71 62.10
QIGD 32.50 29.10 30.07 30.68 31.65 32.62 33.23 34.20 31.90 37.70 44.07
Real Estate
BRES 37.50 36.37 36.81 37.08 37.52 37.96 38.23 38.67 35.64 39.53 44.05
UDCD 21.39 20.40 20.82 21.08 21.50 21.92 22.18 22.60 19.44 21.32 22.69
ERES 14.38 14.27 14.33 14.36 14.41 14.47 14.50 14.55 14.56 16.39 17.25
MRDS 11.60 11.38 11.49 11.55 11.66 11.77 11.83 11.94 12.60 14.27 16.06
Telecommunication
ORDS 87.10 85.90 86.28 86.52 86.90 87.28 87.52 87.90 76.57 75.73 79.49
VFQS 10.36 10.25 10.31 10.35 10.40 10.46 10.50 10.55 11.16 12.30 13.99
Transportation
QGTS 22.70 22.11 22.37 22.53 22.79 23.05 23.21 23.47 22.08 23.10 22.65
QNNS 94.50 92.97 93.50 93.83 94.37 94.90 95.23 95.77 91.24 94.48 96.12
Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price

5. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 5 of 6
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.

6. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 6 of 6
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
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,
promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. QNBFS accepts no liability whatsoever for any
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
amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the views and
opinions included in this report. This report may not be reproduced in whole or in part without permission from QNBFS.