The QSE Index remains in a short-term uptrend. That been said, we need to see more traded volumes to confirm the strength of this marginal break above the 10,000. Our immediate support remains at 9,800 points

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Daily Technical Trader – Qatar
Wednesday, 24 February 2016
Stocks Covered Today
Ticker Price Target
QEWS 199.60 194.00
QIIK 68.50 70.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,002.80 0.90 7.4
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:
The QSE Index remains in a short-term
uptrend. That been said, we need to see
more traded volumes to confirm the
strength of this marginal break above the
10,000. Our immediate support remains
at 9,800 points.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 23 Feb 22 Feb %Ch.
Value Traded (QR mn) 401.4 496.0 -19.1
Ex. Mkt. Cap. (QR bn) 532.4 527.2 1.0
Volume (mn) 9.8 14.6 -32.9
Number of Trans. 6,089 6,140 -0.8
Companies Traded 38 39 -2.6
Market Breadth 24:12 26:10 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,670.79 1.2 61.7
All Share Index 2,688.80 1.3 62.5
Banks 2,724.72 0.9 61.7
Industrials 2,982.71 1.7 62.4
Transportation 2,424.59 2.8 63.1
Real Estate 2,181.91 1.8 57.4
Insurance 4,202.68 -0.6 61.8
Telecoms 1,057.28 0.4 60.8
Consumer Goods 5,952.32 1.3 67.9
Al Rayan Islamic 3,604.75 2.1 60.3
RSI 14 (Over Bought)
Ticker Close 1D% RSI
MCCS 104.20 6.4 75.5
SIIS 12.55 0.7 74.6
QFLS 164.50 1.5 72.3
UDCD 22.18 1.0 70.5
QIGD 39.30 9.9 70.4
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QEWS
Price % Ch. Volume
Last 199.60 -0.20 32,579
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 200.00 205.00 210.00
Support 198.20 194.00 191.00
Commentary
Overview:
The name reached the 100SMA and the
downtrend line (has been extended since
July of last year). This could apply some
selling pressure on the name, regardless
of the short-term uptick seen since
January of this year.
Expected Price Retreat: QR194.00 –
QR191.00
A price breach below QR198.20 triggers
the sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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QIIK
Price % Ch. Volume
Last 68.50 0.74 108,959
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 68.50 70.00 70.50
Support 67.30 65.20 63.90
Commentary
Overview:
The name has been in bullish leg up since
the middle of January. The trend might
continue a little longer. It should be noted
that the momentum is not as strong as
before, but there might be some upside
left in there.
Expected Target Price: QR70.00 – QR70.50
A price breakaway above QR68.50
triggers the buy recommendation.
Suggested Stop-Loss Price: QR67.30
(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 10,002.80 9,905.25 9,933.20 9,950.47 9,978.41 10,006.36 10,023.63 10,051.57 9,654.48 10,383.50 11,108.95
Total Return 15,670.79 15,517.96 15,561.75 15,588.80 15,632.58 15,676.37 15,703.42 15,747.20 15,023.76 16,148.29 17,270.86
All Share 2,688.80 2,661.43 2,669.27 2,674.11 2,681.96 2,689.80 2,694.64 2,702.49 2,573.70 2,766.33 2,962.98
Al Rayan Islamic 3,604.75 3,549.63 3,565.42 3,575.18 3,590.97 3,606.76 3,616.52 3,632.31 3,496.62 3,842.81 4,201.04
Banks & Financials Services
MARK 36.90 N/A N/A N/A N/A N/A N/A N/A 34.71 37.81 41.27
CBQK 43.20 42.07 42.39 42.59 42.92 43.24 43.44 43.77 42.46 47.04 51.32
DHBK 42.50 40.63 41.17 41.50 42.03 42.57 42.90 43.43 39.98 44.04 48.39
QIBK 99.00 95.00 96.15 96.85 98.00 99.15 99.85 101.00 97.02 107.12 108.06
QIIK 68.50 67.70 67.93 68.07 68.30 68.53 68.67 68.90 63.10 67.81 72.88
Insurance
QATI 88.50 N/A N/A N/A N/A N/A N/A N/A 73.93 78.17 83.00
Consumer Goods & Services
MCGS 92.90 86.97 88.88 90.06 91.97 93.88 95.06 96.97 101.29 126.34 151.15
Industrials
IQCD 109.50 107.50 108.07 108.43 109.00 109.57 109.93 110.50 101.70 108.77 121.78
QEWS 199.60 197.47 198.15 198.58 199.27 199.95 200.38 201.07 199.17 204.81 210.82
GISS 34.70 33.20 34.06 34.59 35.45 36.31 36.84 37.70 42.17 51.13 61.58
QIGD 39.30 39.30 39.30 39.30 39.30 39.30 39.30 39.30 32.00 37.55 43.97
Real Estate
BRES 37.10 35.43 35.91 36.21 36.68 37.16 37.46 37.93 35.54 39.39 43.92
UDCD 22.18 21.73 21.88 21.97 22.13 22.28 22.37 22.53 19.54 21.29 22.67
ERES 14.58 14.38 14.44 14.48 14.54 14.60 14.64 14.70 14.56 16.30 17.22
MRDS 11.81 11.58 11.67 11.73 11.81 11.90 11.96 12.04 12.52 14.18 15.99
Telecommunication
ORDS 87.30 86.10 86.44 86.66 87.00 87.34 87.56 87.90 77.27 75.93 79.36
VFQS 10.44 10.31 10.35 10.38 10.41 10.45 10.48 10.51 11.14 12.24 13.92
Transportation
QGTS 23.69 22.74 23.02 23.19 23.48 23.76 23.93 24.22 22.13 23.11 22.66
QNNS 98.00 94.00 95.15 95.85 97.00 98.15 98.85 100.00 91.32 94.44 96.08
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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