The document provides a daily market summary and analysis of the Qatar Stock Exchange (QSE) Index and GWCS stock. It includes: 1) An overview of the QSE Index closing above the 10,000 resistance level but near that level. The index has formed an ascending triangle pattern suggesting a possible uptick. 2) Analysis of GWCS stock which has been hovering around QR60 support level from its uptrend line. It is expected to have a target price between QR65.30-QR66.10 if it breaks above the QR62.70 resistance. 3) A summary of key market indicators like trading volume and number of stocks traded on the QSE for the past two days.

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Daily Technical Trader – Qatar
Wednesday, 18 May 2016
Today’s Coverage
Ticker Price Target
GWCS 62.20 65.30
QSE Index
Level % Ch. Vol. (mn)
Last 10,010.67 0.14 5.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,000 10,100 10,250
Support 9,800 9,700 9,600
QSE Index Commentary
Overview:
Even though the Index closed above the
10,000 resistance level, we keep it as a
resistance because of the Index’s
proximity to that critical level. The price
(on the intraday chart) has created an
ascending triangle, suggesting a possible
uptick. That uptick, however, remains
against the downtrend.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 17May 16 May %Ch.
Value Traded (QR mn) 324.7 246.3 31.8
Ex. Mkt. Cap. (QR bn) 537.6 536.3 0.2
Volume (mn) 10.0 7.5 33.4
Number of Trans. 5,548 4,759 16.6
Companies Traded 41 41 0.0
Market Breadth 21:15 22:16 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 16,196.60 0.1 49.2
All Share Index 2,793.11 0.3 49.0
Banks 2,678.77 0.4 42.0
Industrials 3,123.96 0.5 54.6
Transportation 2,516.02 0.1 51.9
Real Estate 2,489.71 0.1 50.3
Insurance 4,268.18 1.4 49.3
Telecoms 1,126.61 -2.4 46.8
Consumer Goods 6,604.42 0.4 53.6
Al Rayan Islamic 3,918.66 0.2 49.3
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GWCS
Price % Ch. Volume
Last 62.20 1.80 212,921
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 62.70 65.30 66.10
Support 60.00 59.00 58.60
Commentary
Overview:
The price has been hovering around the
QR60.00; that could be a good sign for
another move upwards. The price is at an
important support stemming from the
uptrend line (seen on the daily chart). It is
critical for the price to stay above that
trend line.
Expected Target Price: QR65.30 – QR66.10
A price breakout above QR62.70 triggers
the buy recommendation.
Suggested Stop-Loss Price: QR60.00
(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 10,010.67 9,944.91 9,963.75 9,975.39 9,994.23 10,013.07 10,024.71 10,043.55 10,180.72 9,920.85 10,543.46
Total Return 16,196.60 16,090.20 16,120.68 16,139.52 16,170.00 16,200.48 16,219.32 16,249.80 16,402.96 15,745.09 16,550.57
All Share 2,793.11 2,774.90 2,780.11 2,783.34 2,788.56 2,793.77 2,797.00 2,802.22 2,822.34 2,702.66 2,838.74
Al Rayan Islamic 3,918.66 3,882.01 3,892.69 3,899.29 3,909.97 3,920.65 3,927.25 3,937.93 3,954.44 3,726.99 3,980.08
Banks & Financials Services
MARK 34.10 33.50 33.67 33.78 33.95 34.12 34.23 34.40 34.79 34.70 38.01
CBQK 37.50 36.80 37.03 37.17 37.40 37.63 37.77 38.00 40.20 41.21 47.04
DHBK 36.40 35.83 36.04 36.17 36.38 36.59 36.72 36.93 37.02 38.27 43.67
QIBK 97.20 96.20 96.54 96.76 97.10 97.44 97.66 98.00 100.97 98.16 106.22
QIIK 61.80 60.53 60.99 61.27 61.73 62.19 62.47 62.93 66.03 65.25 69.09
Insurance
QATI 78.50 75.77 76.84 77.50 78.57 79.64 80.30 81.37 81.86 76.04 77.18
Consumer Goods & Services
MCGS 101.80 97.27 98.79 99.74 101.27 102.79 103.74 105.27 106.79 102.79 129.00
Industrials
IQCD 102.40 99.33 100.21 100.75 101.63 102.51 103.05 103.93 104.92 103.75 112.02
QEWS 208.00 205.47 206.19 206.64 207.37 208.09 208.54 209.27 204.10 200.56 205.84
GISS 37.70 36.30 36.83 37.17 37.70 38.23 38.57 39.10 35.83 37.86 48.98
QIGD 51.00 48.13 49.20 49.86 50.93 52.00 52.66 53.73 49.96 41.21 42.66
Real Estate
BRES 32.25 31.98 32.08 32.14 32.23 32.33 32.39 32.48 34.39 34.82 39.08
UDCD 18.68 N/A N/A N/A N/A N/A N/A N/A 19.27 19.58 21.36
ERES 18.10 17.89 17.95 17.99 18.05 18.11 18.15 18.21 18.01 16.30 17.08
MRDS 13.98 13.68 13.79 13.85 13.96 14.07 14.13 14.24 14.07 12.85 14.00
Telecommunication
ORDS 90.00 88.33 89.17 89.69 90.53 91.37 91.89 92.73 89.78 85.04 79.42
VFQS 11.09 10.38 10.60 10.74 10.97 11.19 11.33 11.56 12.12 11.56 12.52
Transportation
QGTS 23.01 22.94 22.97 23.00 23.04 23.07 23.10 23.14 23.22 22.72 22.94
QNNS 89.50 87.30 88.03 88.47 89.20 89.93 90.37 91.10 90.98 91.36 94.20
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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