This document provides a daily market summary and analysis of the Qatar Stock Exchange (QSE) from November 1, 2017. It includes the following: 1) An overview of the QSE index closing slightly lower but remaining above 8,000, with technical indicators still pointing to an optimistic outlook. 2) Analysis of individual stock MASRAF AL RAYAN (MARK), discussing its downtrend but potential for a relief rally based on technical patterns. 3) Tables presenting market indicators, index levels, most active stocks and top gainers/losers for the QSE.

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Daily Technical Trader – Qatar
Wednesday, 01 November 2017
Today’s Coverage
Ticker Price Target
MARK 35.74 37.40
QSE Index
Level % Ch. Vol. (mn)
Last 8,165.06 -0.38 3.0
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 8,200 8,350 8,670
Support 8,000 7,800 7,650
QSE Index Commentary
Overview:
The Index closed in the red but remains
above the 8,000 level; we remain
optimistic on the positive divergence seen
on the MACD and the RSI on the daily
chart.
Expected Resistance Level: 8,200
Expected Support Level: 8,000
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 31 Oct 30 Oct %Ch.
Value Traded (QR mn) 140.3 133.2 5.3
Ex. Mkt. Cap. (QR bn) 444.1 446.2 -0.5
Volume (mn) 4.9 6.6 -25.3
Number of Trans. 2,982 2,400 24.3
Companies Traded 41 39 5.1
Market Breadth 18:22 21:16 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 13,692.32 -0.4 39.8
All Share Index 2,286.66 -0.5 37.0
Banks 2,561.60 -0.4 40.4
Industrials 2,539.84 0.5 46.4
Transportation 1,669.95 0.1 36.6
Real Estate 1,609.26 -1.5 43.3
Insurance 2,989.04 -0.6 28.4
Telecoms 1,026.94 -2.1 45.7
Consumer Goods 4,764.82 -1.2 31.0
Al Rayan Islamic 3,211.42 0.4 35.3
Source: Bloomberg
RSI 14 (Overbought)
Ticker Close 1D% RSI
RSI 14 (Oversold)
Ticker Close 1D% RSI
VFQS 7.00 -0.4 19.1
AKHI 11.00 -3.5 23.2
MRDS 8.16 -1.6 24.5
QATI 44.51 -1.1 25.2
IHGS 34.40 -1.1 25.4
Source: Bloomberg
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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MASRAF AL RAYAN (MARK)
Price % Ch. Volume
Last 35.74 -1.81 278,543
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 36.40 37.40 38.70
Support 35.20 33.00 32.00
Commentary
Overview:
The bank has been trending down since
June and could continue further. That
being said, we see a Double-Bottom
formation on the intraday chart. If the
price breaks above the neckline, then
there is a strong case for a relief rally
(inside a Falling-Wedge formation).
Expected Target Price: QR37.40 – QR38.70
A price breakout above QR36.40 triggers
the buy idea.
Suggested Stop-Loss Price: QR35.20
(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 8,165.06 8,133.50 8,148.85 8,158.34 8,173.69 8,189.04 8,198.53 8,213.88 8,446.85 8,847.41 9,648.96
Total Return 13,692.32 13,639.40 13,665.14 13,681.05 13,706.79 13,732.53 13,748.44 13,774.18 14,164.86 14,836.58 16,041.47
All Share 2,286.66 2,277.51 2,282.75 2,285.99 2,291.24 2,296.48 2,299.72 2,304.97 2,389.75 2,509.13 2,715.73
Al Rayan Islamic 3,211.42 3,176.97 3,187.77 3,194.44 3,205.24 3,216.04 3,222.71 3,233.51 3,376.99 3,526.70 3,801.65
Banks & Financials Services
MARK 35.74 35.31 35.55 35.71 35.96 36.20 36.36 36.61 37.10 38.93 40.41
CBQK 26.40 25.93 26.11 26.21 26.38 26.56 26.66 26.83 28.82 29.59 30.22
DHBK 28.20 27.67 27.97 28.16 28.47 28.77 28.96 29.27 29.11 29.89 31.52
QIBK 97.00 95.66 96.09 96.36 96.79 97.22 97.49 97.92 93.27 93.75 98.54
QIIK 48.40 46.81 47.32 47.63 48.15 48.66 48.97 49.49 51.85 53.90 59.73
Insurance
QATI 44.51 43.39 43.84 44.12 44.57 45.02 45.30 45.75 55.95 62.37 67.41
Consumer Goods & Services
MCGS 68.49 65.84 66.60 67.07 67.83 68.59 69.06 69.82 70.01 76.04 81.55
Industrials
IQCD 95.50 93.90 94.36 94.64 95.10 95.56 95.84 96.30 92.43 94.63 103.11
QEWS 183.00 181.33 182.29 182.88 183.83 184.79 185.38 186.33 181.54 188.10 204.41
GISS 17.51 17.04 17.21 17.31 17.49 17.66 17.76 17.94 18.54 19.86 23.73
QIGD 29.35 27.27 27.97 28.39 29.09 29.79 30.21 30.91 37.47 42.95 50.86
Real Estate
BRES 30.01 29.60 29.76 29.85 30.00 30.16 30.25 30.40 31.34 32.20 33.91
UDCD 13.32 13.14 13.24 13.29 13.39 13.49 13.54 13.64 14.53 15.84 18.18
ERES 9.50 9.31 9.41 9.47 9.57 9.67 9.73 9.83 10.34 11.37 13.40
MRDS 8.16 7.87 7.99 8.07 8.20 8.32 8.40 8.53 9.42 10.14 11.70
Telecommunication
ORDS 85.90 84.63 85.36 85.81 86.53 87.26 87.71 88.43 85.27 89.60 97.28
VFQS 7.00 6.91 6.94 6.97 7.01 7.04 7.07 7.11 8.05 8.30 8.79
Transportation
QGTS 15.15 14.97 15.05 15.09 15.17 15.25 15.29 15.37 15.86 16.80 19.31
QNNS 53.50 53.37 53.44 53.49 53.57 53.64 53.69 53.77 57.46 62.88 71.72
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, CFA 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
Mohamed Abo Daff Youssef Elboghdady Feras Al-Sarraj
Senior Research Analyst Head of Institutional Sales & Trading Head of Sales
Tel: (+974) 4476 6589 Tel: (+974) 4476 6542 Tel: (+974) 4476 6514
mohd.abodaff@qnbfs.com.qa youssef.elboghdady@qnbfs.com.qa feras.alsarraj@qnbfs.com.qa
QNB Financial Services
Contact Center: (+974)4476 6666
PO Box 24025
Doha, Qatar
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