The document provides a daily technical analysis report on the Qatar Stock Exchange (QSE) Index and selected Qatari stocks. It includes commentary on the QSE Index performance and technical indicators. It also analyzes individual stocks like Commercial Bank and provides price targets and recommendations. Charts are included to support the technical analysis. Key terms related to technical analysis like support, resistance, moving averages are defined at the end.

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Daily Technical Trader – Qatar
Thursday, 16 June 2016
Today’s Coverage
Ticker Price Target
CBQK 37.35 39.40
QSE Index
Level % Ch. Vol. (mn)
Last 9,768.65 0.13 2.7
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,800 10,000 10,100
Support 9,700 9,600 9,400
QSE Index Commentary
Overview:
The Index inched up but without any
significant change in technical indicators.
The main trend remains down with a
chance of a correction upwards.
Expected Resistance Level: 9,800
Expected Support Level: 9,700
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 15 Jun 14 Jun %Ch.
Value Traded (QR mn) 161.9 123.6 31.0
Ex. Mkt. Cap. (QR bn) 529.4 525.9 0.7
Volume (mn) 4.5 2.3 97.4
Number of Trans. 2,554 1,562 63.5
Companies Traded 41 39 5.1
Market Breadth 28:9 16:22 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 15,805.03 0.1 49.0
All Share Index 2,727.99 0.3 48.6
Banks 2,651.49 0.6 51.3
Industrials 3,027.39 1.2 47.9
Transportation 2,459.67 0.3 46.2
Real Estate 2,431.57 -0.7 50.8
Insurance 3,994.01 -1.0 37.1
Telecoms 1,091.65 0.1 51.2
Consumer Goods 6,387.00 0.5 44.3
Al Rayan Islamic 3,794.53 0.2 46.0
RSI 14 (Over Bought)
Ticker Close 1D% RSI
MPHC 19.70 8.5 70.8
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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Commercial Bank (CBQK)
Price % Ch. Volume
Last 37.35 2.19 124,357
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 37.50 39.40 40.60
Support 36.00 35.30 33.50
Commentary
Overview:
The name has been in a downtrend, but
there is a chance for a bounce. A break
above QR37.50 puts the price above the
50SMA, which could propel the price
higher in a correction phase.
Expected Target Price: QR39.40 – QR40.60
A price breakout above QR37.50 triggers
the buy recommendation.
Suggested Stop-Loss Price: QR35.30
(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 9,768.65 9,674.27 9,711.30 9,734.19 9,771.22 9,808.25 9,831.14 9,868.17 9,933.26 9,956.71 10,355.75
Total Return 15,805.03 15,652.33 15,712.25 15,749.27 15,809.19 15,869.11 15,906.13 15,966.05 16,067.44 15,930.50 16,323.62
All Share 2,727.99 2,696.44 2,708.16 2,715.40 2,727.12 2,738.84 2,746.08 2,757.80 2,774.66 2,739.12 2,801.38
Al Rayan Islamic 3,794.53 3,750.31 3,765.73 3,775.25 3,790.67 3,806.09 3,815.61 3,831.03 3,891.22 3,794.04 3,910.49
Banks & Financials Services
MARK 33.65 33.42 33.53 33.60 33.72 33.83 33.90 34.02 33.81 34.52 36.98
CBQK 37.35 36.48 36.73 36.89 37.13 37.38 37.54 37.78 37.47 40.11 44.96
DHBK 35.00 34.73 34.89 34.98 35.13 35.29 35.38 35.53 36.09 37.33 41.91
QIBK 95.60 93.53 94.37 94.89 95.73 96.57 97.09 97.93 96.91 98.20 104.57
QIIK 61.50 60.90 61.13 61.27 61.50 61.73 61.87 62.10 62.40 65.33 67.48
Insurance
QATI 72.60 72.00 72.27 72.43 72.70 72.97 73.13 73.40 77.60 77.70 76.21
Consumer Goods & Services
MCGS 94.50 93.03 93.49 93.77 94.23 94.69 94.97 95.43 101.67 102.58 121.66
Industrials
IQCD 97.00 95.93 96.39 96.67 97.13 97.59 97.87 98.33 100.91 103.10 108.38
QEWS 201.90 198.03 199.14 199.83 200.93 202.04 202.73 203.83 205.11 201.06 204.73
GISS 37.20 36.67 36.86 36.98 37.17 37.36 37.48 37.67 36.08 36.21 46.17
QIGD 48.20 46.53 47.03 47.34 47.83 48.33 48.64 49.13 50.77 44.79 42.74
Real Estate
BRES 32.15 31.95 32.03 32.07 32.15 32.23 32.27 32.35 32.52 33.98 37.55
UDCD 18.65 18.37 18.47 18.54 18.64 18.74 18.81 18.91 18.79 19.42 20.72
ERES 17.52 17.13 17.29 17.40 17.57 17.73 17.84 18.01 17.84 16.92 17.04
MRDS 13.48 13.11 13.21 13.28 13.39 13.49 13.56 13.67 14.03 13.09 13.71
Telecommunication
ORDS 87.70 87.43 87.59 87.68 87.83 87.99 88.08 88.23 88.14 87.61 80.57
VFQS 10.52 10.37 10.43 10.47 10.54 10.60 10.64 10.71 11.50 11.42 12.14
Transportation
QGTS 23.17 22.62 22.83 22.96 23.16 23.37 23.50 23.70 23.16 23.04 23.07
QNNS 85.50 82.70 83.50 84.00 84.80 85.60 86.10 86.90 88.32 90.36 93.10
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
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services. Co WLL One Person Company (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given
time only. It is not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. QNBFS accepts no
liability whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically
engaged investment advice. 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 that QNBFS believes to be reliable, we have not independently verified such information and it may not be accurate or complete. QNBFS does not make any
representations or warranties as to the accuracy and completeness of the information it may contain, and declines any liability in that respect. For reports dealing with Technical Analysis, expressed
opinions and/or recommendations may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price
and volume). QNBFS reserves the right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly
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