The RSI reached the overbought area on the daily chart, which means the market could be overheating. That been said, the Index’s movement remains positive. We keep the resistance at the 10,680, even though the Index closed marginally higher than the level.

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Daily Technical Trader – Qatar
Thursday, 05 January 2017
Today’s Coverage
Ticker Price Target
MARK 38.85 40.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,688.78 0.84 5.8
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,680 10,900 11,000
Support 10,400 10,250 10,150
QSE Index Commentary
Overview:
The RSI reached the overbought area on
the daily chart, which means the market
could be overheating. That been said, the
Index’s movement remains positive. We
keep the resistance at the 10,680, even
though the Index closed marginally
higher than the level.
Expected Resistance Level: 10,680
Expected Support Level: 10,400
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 04 Jan 03 Jan %Ch.
Value Traded (QR mn) 353.1 244.3 44.5
Ex. Mkt. Cap. (QR bn) 575.2 571.1 0.7
Volume (mn) 13.1 7.7 69.9
Number of Trans. 4,601 3,315 38.8
Companies Traded 44 43 2.3
Market Breadth 34:6 29:8 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 17,293.73 0.8 70.6
All Share Index 2,932.34 0.9 70.7
Banks 2,977.13 0.5 70.2
Industrials 3,364.27 0.1 73.8
Transportation 2,572.95 0.7 72.3
Real Estate 2,324.77 2.5 53.4
Insurance 4,526.24 1.2 58.6
Telecoms 1,242.35 1.7 64.4
Consumer Goods 5,942.49 1.2 61.0
Al Rayan Islamic 3,972.55 0.9 72.8
RSI 14 (Overbought)
Ticker Close 1D% RSI
IQCD 119.00 -0.8 77.0
MARK 38.85 0.9 74.9
QIIK 64.90 1.4 73.2
QIBK 106.40 0.6 70.9
DBIS 23.26 1.6 70.1
RSI 14 (Oversold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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Masraf Al Rayan (MARK)
Price % Ch. Volume
Last 38.85 0.91 580,455
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 39.10 40.00 41.70
Support 37.00 36.00 35.00
Commentary
Overview:
The price has a created a 10-month bullish
formation, which indicates a possible
strong rally. The rally could spark once
the current critical resistance is broken
with higher volumes and stronger move.
Expected Target Price: QR40.00 – QR41.70
A price breakout above QR39.10 triggers
the buy recommendation.
Suggested Stop-Loss Price: QR37.00
(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 10,688.78 10,544.39 10,585.76 10,611.32 10,652.68 10,694.05 10,719.61 10,760.97 10,081.11 10,396.33 10,249.77
Total Return 17,293.73 17,060.13 17,127.06 17,168.40 17,235.33 17,302.26 17,343.60 17,410.53 16,310.55 16,820.58 16,573.06
All Share 2,932.34 2,895.90 2,906.34 2,912.79 2,923.23 2,933.67 2,940.12 2,950.56 2,777.21 2,864.18 2,836.92
Al Rayan Islamic 3,972.55 3,920.35 3,935.31 3,944.54 3,959.50 3,974.46 3,983.69 3,998.65 3,727.65 3,883.23 3,904.89
Banks & Financials Services
MARK 38.85 38.12 38.33 38.46 38.67 38.88 39.01 39.22 34.92 35.68 35.10
CBQK 33.00 31.93 32.24 32.43 32.73 33.04 33.23 33.53 32.75 35.93 36.47
DHBK 35.50 34.83 35.02 35.14 35.33 35.52 35.64 35.83 34.76 36.27 36.29
QIBK 106.40 105.13 105.59 105.87 106.33 106.79 107.07 107.53 101.57 104.65 102.12
QIIK 64.90 63.77 64.11 64.32 64.67 65.01 65.22 65.57 62.00 63.63 63.67
Insurance
QATI 87.10 85.57 86.06 86.37 86.87 87.36 87.67 88.17 84.42 85.93 82.10
Consumer Goods & Services
MCGS 63.70 63.03 63.38 63.59 63.93 64.28 64.49 64.83 63.92 76.82 89.05
Industrials
IQCD 119.00 117.13 117.86 118.31 119.03 119.76 120.21 120.93 107.73 108.50 105.48
QEWS 234.00 226.67 228.96 230.37 232.67 234.96 236.37 238.67 214.14 216.46 212.12
GISS 32.00 31.60 31.75 31.85 32.00 32.15 32.25 32.40 30.54 33.01 34.70
QIGD 58.40 56.53 57.22 57.65 58.33 59.02 59.45 60.13 56.25 53.84 51.86
Real Estate
BRES 34.20 33.30 33.59 33.76 34.05 34.34 34.51 34.80 31.45 33.40 33.46
UDCD 21.69 20.13 20.59 20.87 21.33 21.79 22.07 22.53 19.41 19.89 19.50
ERES 15.65 15.06 15.23 15.34 15.50 15.67 15.78 15.94 15.50 16.81 17.50
MRDS 14.80 14.08 14.31 14.44 14.67 14.90 15.03 15.26 12.95 13.52 13.73
Telecommunication
ORDS 105.00 102.20 103.00 103.50 104.30 105.10 105.60 106.40 95.81 97.28 93.44
VFQS 9.59 9.34 9.42 9.46 9.53 9.61 9.65 9.72 9.71 10.55 10.99
Transportation
QGTS 23.48 22.98 23.13 23.21 23.36 23.51 23.59 23.74 22.86 23.43 23.38
QNNS 95.10 94.03 94.61 94.96 95.53 96.11 96.46 97.03 88.73 89.00 88.86
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
Sahbi Kasraoui Youssef Elboghdady QNB Financial Services
Acting Head of Trading Head of Institutional Sales & Trading Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6542 PO Box 24025
sahbi.alkasraoui@qnbfs.com.qa youssef.elboghdady@qnbfs.com.qa Doha, Qatar
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