The QSE Index had a correction as we expected from the Doji candlestick that has been created last Thursday. The trend remains up on the very short term but the correction might continue

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Daily Technical Trader – Qatar
Monday, 25 April 2016
Today’s Coverage
Ticker Price Target
GISS 35.90 34.00
BRES 33.90 32.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,262.56 -1.29 5.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,400 10,500 10,700
Support 10,250 10,100 10,000
QSE Index Commentary
Overview:
The QSE Index had a correction as we
expected from the Doji candlestick that
has been created last Thursday. The trend
remains up on the very short term but the
correction might continue.
Expected Resistance Level: 10,400
Expected Support Level: 10,250
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 24 Apr 21 Apr %Ch.
Value Traded (QR mn) 282.8 399.8 -29.3
Ex. Mkt. Cap. (QR bn) 550.8 555.1 -0.8
Volume (mn) 9.8 11.3 -13.3
Number of Trans. 4,388 6,065 -27.7
Companies Traded 38 43 -11.6
Market Breadth 8:29 17:23 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,604.13 -1.3 63.4
All Share Index 2,867.25 -1.0 65.8
Banks 2,752.26 -0.2 52.8
Industrials 3,182.90 -0.8 64.0
Transportation 2,572.12 -0.5 66.1
Real Estate 2,607.31 -2.8 71.8
Insurance 4,354.99 -1.4 45.1
Telecoms 1,149.14 -1.7 59.9
Consumer Goods 6,634.22 -1.5 60.6
Al Rayan Islamic 4,028.70 -1.7 65.0
RSI 14 (Over Bought)
Ticker Close 1D% RSI
ERES 19.00 -3.7 74.1
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GISS
Price % Ch. Volume
Last 35.90 -1.78 369,972
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 37.00 38.00 39.25
Support 35.70 34.00 32.90
Commentary
Overview:
Last recommendation sent was a sell
recommendation, and we maintain that
view if the price dips below the QR35.70.
The reasons for that are the lower tops
and bottoms created recently and the
MACD being below the zero line on the
daily chart.
Expected Price Retreat: QR34.00 –
QR32.90
A price breach below QR35.70 triggers the
sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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BRES
Price % Ch. Volume
Last 33.90 -0.88 404,851
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 35.00 37.00 39.00
Support 33.80 32.00 30.00
Commentary
Overview:
The case on BRES is fairly simple. The
price has been in a downtrend motion on
the medium and short terms. The MACD
is below the zero line on both time frames
and penetrating the recent low might take
the price further down.
Expected Price Retreat: QR32.00 –
QR30.00
A price breach below QR33.80 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 10,262.56 10,175.67 10,225.46 10,256.22 10,306.01 10,355.80 10,386.56 10,436.35 10,158.04 9,944.64 10,714.10
Total Return 16,604.13 16,463.53 16,544.09 16,593.87 16,674.43 16,754.99 16,804.77 16,885.33 16,203.31 15,667.60 16,758.56
All Share 2,867.25 2,849.30 2,859.58 2,865.94 2,876.23 2,886.51 2,892.87 2,903.16 2,779.55 2,686.24 2,874.05
Al Rayan Islamic 4,028.70 3,991.49 4,012.81 4,025.98 4,047.30 4,068.62 4,081.79 4,103.11 3,846.54 3,697.37 4,045.34
Banks & Financials Services
MARK 34.70 34.40 34.50 34.55 34.65 34.75 34.80 34.90 35.41 35.16 39.06
CBQK 38.10 37.83 37.99 38.08 38.23 38.39 38.48 38.63 42.32 42.66 48.62
DHBK 36.75 36.52 36.65 36.73 36.87 37.00 37.08 37.22 38.55 39.73 45.16
QIBK 100.00 99.07 99.45 99.68 100.07 100.45 100.68 101.07 101.42 100.54 107.11
QIIK 65.00 64.07 64.41 64.62 64.97 65.31 65.52 65.87 68.21 65.65 70.55
Insurance
QATI 80.90 79.63 80.21 80.56 81.13 81.71 82.06 82.63 80.93 74.84 77.71
Consumer Goods & Services
MCGS 98.90 96.17 97.73 98.70 100.27 101.83 102.80 104.37 108.76 107.68 137.16
Industrials
IQCD 104.90 103.50 104.30 104.80 105.60 106.40 106.90 107.70 106.37 104.09 114.98
QEWS 208.60 207.13 207.55 207.81 208.23 208.65 208.91 209.33 200.86 200.69 207.20
GISS 35.90 35.23 35.54 35.73 36.03 36.34 36.53 36.83 35.72 40.76 52.59
QIGD 52.30 50.50 51.15 51.55 52.20 52.85 53.25 53.90 43.98 38.48 42.61
Real Estate
BRES 33.90 33.13 33.42 33.60 33.88 34.17 34.35 34.63 35.87 36.13 40.71
UDCD 19.05 18.80 18.93 19.00 19.12 19.25 19.32 19.44 20.22 19.83 21.91
ERES 19.00 18.53 18.80 18.97 19.23 19.50 19.67 19.93 16.93 15.85 17.05
MRDS 14.86 14.59 14.72 14.80 14.94 15.07 15.15 15.29 13.02 12.73 14.29
Telecommunication
ORDS 89.10 87.83 88.56 89.01 89.73 90.46 90.91 91.63 88.83 81.70 78.86
VFQS 12.55 12.44 12.49 12.51 12.55 12.60 12.62 12.66 11.75 11.53 12.93
Transportation
QGTS 23.80 23.27 23.43 23.53 23.69 23.85 23.95 24.11 23.34 22.74 22.86
QNNS 90.50 89.63 90.05 90.31 90.73 91.15 91.41 91.83 93.00 92.42 94.96
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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