The Index created a Hanging Man candlestick. It is considered a warning that the Index might see some weakness and could correct, especially if it breaks below the 10,280.

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Daily Technical Trader – Qatar
Wednesday, 09 March 2016
Stocks Covered Today
Ticker Price Target
GISS 38.35 36.80
ERES 17.00 15.90
QSE Index
Level % Ch. Vol. (mn)
Last 10,418.23 0.48 15.8
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,400 10,500 10,700
Support 10,250 10,000 9,800
QSE Index Commentary
Overview:
The Index created a Hanging Man
candlestick. It is considered a warning
that the Index might see some weakness
and could correct, especially if it breaks
below the 10,280.
Expected Resistance Level: 10,400
Expected Support Level: 10,250
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 08 Mar 07 Mar %Ch.
Value Traded (QR mn) 455.9 652.8 -30.2
Ex. Mkt. Cap. (QR bn) 547.6 547.2 0.1
Volume (mn) 12.1 23.3 -48.0
Number of Trans. 6,219 9,120 -31.8
Companies Traded 38 37 2.7
Market Breadth 15:20 33:2 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,544.67 0.7 72.1
All Share Index 2,814.91 0.5 71.4
Banks 2,795.14 0.4 66.0
Industrials 3,099.44 -0.4 70.5
Transportation 2,446.13 -0.2 64.1
Real Estate 2,422.70 1.1 73.0
Insurance 4,557.17 3.8 63.6
Telecoms 1,089.59 0.4 61.8
Consumer Goods 6,314.62 0.9 71.9
Al Rayan Islamic 3,890.56 0.4 74.6
RSI 14 (Over Bought)
Ticker Close 1D% RSI
NLCS 14.90 -2.3 80.6
ZHCD 88.00 0.0 76.5
SIIS 13.15 -0.4 75.7
QATI 86.00 4.9 75.3
DBIS 16.07 0.4 75.0
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GISS
Price % Ch. Volume
Last 38.35 -0.26 2,213,164
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 39.00 40.00 41.60
Support 38.00 36.80 36.00
Commentary
Overview:
We sent out a buy recommendation on
GISS back on the 16
th
of last February.
Now, the name has reached its 50SMA
and the upper border of its medium-term
downtrend channel. In addition, it
reached the top of the uptrend channel on
the intraday chart. Expect profit booking.
Expected Target Price: QR36.80 – QR36.00
A breach below QR38.00 triggers the sell
recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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ERES
Price % Ch. Volume
Last 17.00 1.80 762,438
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 17.10 17.32 18.00
Support 16.45 15.90 15.20
Commentary
Overview:
We published a buy recommendation on
ERES on the 25
th
of last month. It reached
our second expected target and QR15.75
and beyond. This could be the time for the
name to correct, as we see the name has
reached old, but vital, resistance levels
(around the QR17.20).
Expected Target Price: QR15.90 – QR15.20
A breach below QR16.45 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 10,418.23 10,239.76 10,290.89 10,322.48 10,373.61 10,424.74 10,456.33 10,507.46 9,658.68 10,243.04 11,014.36
Total Return 16,544.67 16,261.24 16,342.45 16,392.61 16,473.81 16,555.02 16,605.18 16,686.38 15,076.61 15,953.13 17,135.57
All Share 2,814.91 2,772.97 2,785.77 2,793.67 2,806.47 2,819.27 2,827.17 2,839.97 2,581.53 2,733.14 2,939.35
Al Rayan Islamic 3,890.56 3,827.23 3,846.76 3,858.83 3,878.36 3,897.89 3,909.96 3,929.49 3,497.87 3,781.17 4,159.90
Banks & Financials Services
MARK 36.15 35.38 35.63 35.79 36.03 36.28 36.44 36.68 34.64 37.09 40.77
CBQK 45.55 44.42 44.74 44.94 45.27 45.59 45.79 46.12 42.21 45.98 50.79
DHBK 39.25 37.55 38.33 38.82 39.60 40.38 40.87 41.65 39.62 43.36 47.85
QIBK 105.30 101.63 102.82 103.55 104.73 105.92 106.65 107.83 95.41 105.52 107.75
QIIK 71.50 70.30 70.80 71.10 71.60 72.10 72.40 72.90 64.32 67.33 72.44
Insurance
QATI 86.00 80.67 82.19 83.14 84.67 86.19 87.14 88.67 69.94 72.45 77.37
Consumer Goods & Services
MCGS 111.00 107.27 109.02 110.11 111.87 113.62 114.71 116.47 98.99 120.66 148.37
Industrials
IQCD 110.00 107.93 108.62 109.05 109.73 110.42 110.85 111.53 102.50 107.27 120.26
QEWS 199.00 198.27 198.50 198.64 198.87 199.10 199.24 199.47 197.27 203.50 210.04
GISS 38.35 36.25 37.13 37.67 38.55 39.43 39.97 40.85 40.17 48.58 59.67
QIGD 39.30 N/A N/A N/A N/A N/A N/A N/A 32.43 36.95 43.45
Real Estate
BRES 38.45 37.28 37.68 37.93 38.33 38.73 38.98 39.38 35.26 38.74 43.38
UDCD 22.23 N/A N/A N/A N/A N/A N/A N/A 19.86 21.09 22.60
ERES 17.00 16.27 16.48 16.61 16.82 17.03 17.16 17.37 14.57 15.97 17.11
MRDS 12.90 N/A N/A N/A N/A N/A N/A N/A 12.23 13.81 15.71
Telecommunication
ORDS 87.00 85.53 85.95 86.21 86.63 87.05 87.31 87.73 80.02 76.66 78.87
VFQS 12.12 11.65 11.84 11.95 12.13 12.32 12.43 12.61 11.01 11.94 13.65
Transportation
QGTS 24.00 23.73 23.81 23.86 23.93 24.01 24.06 24.13 22.21 23.12 22.71
QNNS 96.50 95.83 96.02 96.14 96.33 96.52 96.64 96.83 91.72 94.32 95.92
Source: 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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