- The document provides a daily technical analysis of stocks on the Qatar Stock Exchange, including the QSE Index and individual stocks like CBQK and ERES. - It analyzes recent price movements, identifies support and resistance levels, and suggests near-term price targets and trading strategies based on technical indicators and patterns. - The analysis indicates the QSE Index remains in an uptrend but has reached indecision near critical resistance levels, while CBQK and ERES have broken above downtrends and may reach new price targets if they sustain gains above certain levels.

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Daily Technical Trader – Qatar
Thursday, 25 February 2016
Stocks Covered Today
Ticker Price Target
CBQK 43.00 44.00
ERES 14.80 15.15
QSE Index
Level % Ch. Vol. (mn)
Last 9,917.52 -0.85 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:
In the past session, the QSE Index created
a Doji candlestick, which means that
market participants might have reached
an indecision point at these critical levels.
The Index remains in a short-term
uptrend and the 9,800 support level is
becoming more relevant than ever.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 24 Feb 23 Feb %Ch.
Value Traded (QR mn) 334.8 401.4 -16.6
Ex. Mkt. Cap. (QR bn) 528.6 532.4 -0.7
Volume (mn) 9.8 9.8 0.2
Number of Trans. 6,037 6,089 -0.9
Companies Traded 39 38 2.6
Market Breadth 13:24 24:12 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,630.50 -0.3 60.7
All Share Index 2,680.59 -0.3 61.4
Banks 2,713.28 -0.4 60.1
Industrials 2,962.09 -0.7 60.2
Transportation 2,408.80 -0.7 61.0
Real Estate 2,187.72 0.3 57.9
Insurance 4,208.99 0.2 62.1
Telecoms 1,062.96 0.5 62.1
Consumer Goods 5,927.67 -0.4 66.6
Al Rayan Islamic 3,600.04 -0.1 59.9
RSI 14 (Over Bought)
Ticker Close 1D% RSI
SIIS 13.00 3.6 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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CBQK
Price % Ch. Volume
Last 43.00 -0.46 406,653
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 43.20 44.00 44.60
Support 42.35 41.00 40.00
Commentary
Overview:
The name continued its positive move
and broke above the downtrend channel
(seen in red on the daily chart). In
addition, we notice the creation of a
possible Flag price formation on the intra-
day chart. The Flag formation, in this
case, is a positive continuation price
formation. But we have to note the risk
taking a position at these levels because
the price bounced to the 61.8% Fibonacci
level of the previous down move.
Expected Target Price: QR44.00 – QR44.60
A price breakaway above QR43.20
triggers the buy recommendation.
Suggested Stop-Loss Price: QR42.35
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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ERES
Price % Ch. Volume
Last 14.80 1.51 604,666
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 14.80 15.15 15.70
Support 14.20 13.80 13.20
Commentary
Overview:
The name broke above the downtrend
channel that extended from last October
and sustained its levels since then. The
momentum is becoming increasingly
positive. The price is trying to break
above its 50SMA.
Expected Target Price: QR15.15 – QR15.70
A price breakaway above QR14.80
triggers the buy recommendation.
Suggested Stop-Loss Price: QR14.20
(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 9,917.52 9,794.65 9,845.39 9,876.74 9,927.49 9,978.23 10,009.58 10,060.33 9,657.98 10,366.98 11,097.13
Total Return 15,630.50 15,436.85 15,516.82 15,566.23 15,646.21 15,726.18 15,775.59 15,855.57 15,033.50 16,124.77 17,253.58
All Share 2,680.59 2,650.95 2,663.77 2,671.68 2,684.50 2,697.32 2,705.23 2,718.05 2,575.27 2,762.35 2,959.96
Al Rayan Islamic 3,600.04 3,563.55 3,578.32 3,587.45 3,602.23 3,617.00 3,626.13 3,640.91 3,497.07 3,835.04 4,195.46
Banks & Financials Services
MARK 35.40 34.53 34.88 35.09 35.43 35.78 35.99 36.33 34.74 37.73 41.20
CBQK 43.00 42.13 42.40 42.57 42.83 43.10 43.27 43.53 42.42 46.91 51.25
DHBK 42.00 41.07 41.41 41.62 41.97 42.31 42.52 42.87 39.95 43.96 48.33
QIBK 96.00 94.73 95.46 95.91 96.63 97.36 97.81 98.53 96.82 106.92 108.02
QIIK 68.00 67.00 67.38 67.62 68.00 68.38 68.62 69.00 63.24 67.74 72.82
Insurance
QATI 78.50 75.50 76.65 77.35 78.50 79.65 80.35 81.50 74.01 78.09 83.00
Consumer Goods & Services
MCGS 92.60 86.00 88.41 89.89 92.30 94.71 96.19 98.60 100.84 125.55 150.73
Industrials
IQCD 109.50 N/A N/A N/A N/A N/A N/A N/A 101.93 108.64 121.59
QEWS 196.00 192.73 194.22 195.14 196.63 198.12 199.04 200.53 199.01 204.62 210.74
GISS 34.25 33.35 33.66 33.84 34.15 34.46 34.64 34.95 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 36.02 36.25 36.39 36.62 36.85 36.99 37.22 35.51 39.32 43.85
UDCD 21.75 21.56 21.67 21.74 21.84 21.95 22.02 22.12 19.58 21.27 22.66
ERES 14.80 14.25 14.41 14.52 14.69 14.85 14.96 15.13 14.55 16.26 17.21
MRDS 11.77 11.62 11.69 11.73 11.80 11.87 11.91 11.98 12.48 14.13 15.95
Telecommunication
ORDS 88.00 86.73 87.23 87.54 88.03 88.53 88.84 89.33 77.64 76.04 79.30
VFQS 10.39 10.18 10.25 10.29 10.37 10.44 10.48 10.56 11.12 12.21 13.89
Transportation
QGTS 23.90 23.33 23.51 23.61 23.78 23.96 24.06 24.23 22.14 23.12 22.67
QNNS 95.00 93.73 94.46 94.91 95.63 96.36 96.81 97.53 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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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
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