The QSE Index lost over 1% on Thursday’s session vs the session before and over 4% vs the week before. The name in a downtrend on multiple time frames. Except for the positive divergence seen on the intra-day’s RSI, the main trajectory is mostly down.

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Daily Technical Trader – Qatar
Sunday, 08 May 2016
Today’s Coverage
Ticker Price Target
QATI 75.10 71.40
QSE Index
Level % Ch. Vol. (mn)
Last 9,748.78 -1.08 5.0
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 QSE Index lost over 1% on
Thursday’s session vs the session before
and over 4% vs the week before. The
name in a downtrend on multiple time
frames. Except for the positive divergence
seen on the intra-day’s RSI, the main
trajectory is mostly down.
Expected Resistance Level: 9,800
Expected Support Level: 9,700
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 05 May 04 May %Ch.
Value Traded (QR mn) 252.4 298.4 -15.4
Ex. Mkt. Cap. (QR bn) 526.8 532.1 -1.0
Volume (mn) 7.4 8.8 -16.3
Number of Trans. 3,923 4,726 -17.0
Companies Traded 38 41 -7.3
Market Breadth 11:26 7:33 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 15,772.87 -1.1 30.4
All Share Index 2,728.17 -1.0 30.4
Banks 2,645.60 -1.0 27.8
Industrials 3,029.57 -0.3 36.4
Transportation 2,460.08 -0.7 35.9
Real Estate 2,406.13 -0.9 39.1
Insurance 4,144.87 -2.3 29.4
Telecoms 1,094.24 -3.2 33.7
Consumer Goods 6,415.66 -0.1 42.0
Al Rayan Islamic 3,810.42 -0.6 34.5
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QISI 59.00 -1.3 22.9
MARK 32.90 -0.2 26.9
QATI 75.10 -3.1 27.8
SIIS 11.01 0.1 28.2
IHGS 63.80 -0.3 28.7
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QATI
Price % Ch. Volume
Last 75.10 -3.10 285,534
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 79.20 83.00 86.00
Support 75.00 71.40 68.50
Commentary
Overview:
We sent a sell recommendation on the
name on the 28
th
of last month. It almost
reached our second expected target at
QR75.00 (5% down from the trigger price).
We see the price reaching an oversold
area on the daily and the hourly charts.
Now, the price may bounce up and could
reach our first expected resistance, but
the main trend remains down.
Expected Price Retreat: QR71.40 –
QR68.50
A price breach below QR75.00 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 9,748.78 9,673.53 9,716.65 9,743.29 9,786.40 9,829.52 9,856.16 9,899.27 10,207.09 9,932.53 10,621.02
Total Return 15,772.87 15,651.12 15,720.88 15,763.98 15,833.75 15,903.51 15,946.61 16,016.38 16,392.21 15,712.86 16,645.93
All Share 2,728.17 2,708.38 2,719.72 2,726.73 2,738.07 2,749.41 2,756.42 2,767.76 2,816.31 2,695.79 2,855.03
Al Rayan Islamic 3,810.42 3,783.62 3,798.98 3,808.46 3,823.82 3,839.18 3,848.66 3,864.02 3,929.07 3,713.07 4,010.17
Banks & Financials Services
MARK 32.90 32.43 32.62 32.74 32.93 33.12 33.24 33.43 35.02 34.88 38.47
CBQK 36.70 36.37 36.52 36.61 36.77 36.92 37.01 37.17 41.28 41.85 47.75
DHBK 35.85 35.08 35.47 35.70 36.08 36.47 36.70 37.08 37.85 38.90 44.35
QIBK 97.40 96.67 97.01 97.22 97.57 97.91 98.12 98.47 101.31 99.07 106.70
QIIK 61.40 60.93 61.20 61.37 61.63 61.90 62.07 62.33 67.37 65.31 69.76
Insurance
QATI 75.10 73.50 74.42 74.98 75.90 76.82 77.38 78.30 82.10 75.56 77.51
Consumer Goods & Services
MCGS 86.90 83.17 84.39 85.14 86.37 87.59 88.34 89.57 107.81 104.33 132.56
Industrials
IQCD 99.90 98.10 98.86 99.34 100.10 100.86 101.34 102.10 105.89 103.91 113.36
QEWS 203.20 197.13 199.01 200.16 202.03 203.91 205.06 206.93 202.18 200.59 206.37
GISS 33.00 32.10 32.54 32.81 33.25 33.69 33.96 34.40 36.12 39.00 50.45
QIGD 50.00 49.00 49.57 49.93 50.50 51.07 51.43 52.00 47.88 39.99 42.61
Real Estate
BRES 32.00 31.50 31.79 31.96 32.25 32.54 32.71 33.00 35.22 35.37 39.81
UDCD 18.35 18.14 18.25 18.31 18.41 18.52 18.58 18.68 19.81 19.70 21.63
ERES 17.30 16.91 17.10 17.21 17.39 17.58 17.69 17.87 17.69 16.12 17.08
MRDS 13.79 13.40 13.53 13.61 13.75 13.88 13.96 14.10 13.69 12.79 14.13
Telecommunication
ORDS 86.00 84.07 85.17 85.86 86.97 88.07 88.76 89.87 89.37 83.50 79.10
VFQS 11.42 11.22 11.33 11.40 11.51 11.62 11.69 11.80 12.05 11.59 12.71
Transportation
QGTS 22.55 22.20 22.38 22.50 22.69 22.87 22.99 23.18 23.38 22.76 22.92
QNNS 87.70 86.90 87.13 87.27 87.50 87.73 87.87 88.10 92.06 91.73 94.59
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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