The QSE Index fell 3.02% and broke below a key support level, indicating the overall trend remains downward. The document analyzes technical indicators and price movements of stocks on the Qatari market. It identifies support and resistance levels for indexes and individual stocks, and notes some have entered downtrends or show signs of weakness based on technical analysis indicators. Daily price movements and trading volumes are also summarized.

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Daily Technical Trader – Qatar
Sunday, 10 January 2016
Stocks Covered Today
Ticker Price 1
st
Target
QATI 78.40 76.70
QSE Index
Level % Ch. Vol. (mn)
Last 9,767.22 -3.02 2.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,800 10,000 10,300
Support 9,700 9,600 9,500
QSE Index Commentary
Overview:
The QSE Index broke below the lower
side of the downtrend channel (the short-
dashed green line seen on the daily
chart). It is an indication that the general
trend remains down and the support levels
between 9,700 and 9,500 are of an
extreme importance to stay above.
Expected Resistance Level: 9,800
Expected Support Level: 9,700
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 07 Jan 06 Jan %Ch.
Value Traded (QR mn) 268.0 143.9 86.2
Ex. Mkt. Cap. (QR bn) 520.4 535.0 -2.7
Volume (mn) 6.5 3.5 85.5
Number of Trans. 4,183 2,852 46.7
Companies Traded 42 39 7.7
Market Breadth 4:37 25:11 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,181.74 -3.0 33.7
All Share Index 2,606.45 -2.9 33.2
Banks and Financials 2,625.57 -2.8 33.6
Industrials 2,984.80 -2.2 39.9
Transportation 2,352.99 -1.9 37.2
Real Estate 2,143.72 -4.3 32.0
Insurance 3,856.20 -3.8 34.5
Telecoms 965.69 -2.1 53.0
Consumer 5,655.99 -2.5 30.9
Al Rayan Islamic 3,585.21 -3.0 31.8
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 34.00 0.0 0.3
QIBK 97.10 -5.7 21.9
BRES 35.90 -4.3 26.4
DHBK 40.80 -3.5 27.4
NLCS 13.22 -2.7 29.3
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QATI
Price % Ch. Volume
Last 78.40 -3.80 105,930
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 80.00 83.10 85.00
Support 78.40 76.70 72.20
Commentary
Overview:
The name has broken the medium-term
uptrend line and created lower tops and
lower bottoms. That is the basic definition
of a downtrend. In addition, there has
been multiple Death Crosses (circled in
red) on the moving averages; the shorter-
term moving average broke below the
longer-term moving average. Moreover,
the MACD is moving below the zero-line
on the daily and in the intraday charts. As
a result, the name might experience more
weakness on the longer term.
Expected Target Price: QR76.70 –
QR72.20
A price breach below QR78.40 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 9,767.22 9,521.24 9,631.75 9,700.03 9,810.54 9,921.05 9,989.33 10,099.84 10,528.64 11,025.44 11,509.56
Total Return 15,181.74 14,799.40 14,971.17 15,077.30 15,249.07 15,420.84 15,526.97 15,698.74 16,365.26 17,137.47 17,886.45
All Share 2,606.45 2,546.32 2,573.74 2,590.68 2,618.09 2,645.51 2,662.45 2,689.86 2,806.31 2,936.40 3,070.96
Al Rayan Islamic 3,585.21 3,505.14 3,540.74 3,562.73 3,598.32 3,633.92 3,655.91 3,691.50 3,927.43 4,160.24 4,375.15
Banks & Financials Services
MARK 35.00 33.67 34.07 34.32 34.72 35.12 35.37 35.77 38.08 40.60 43.54
CBQK 42.00 40.97 41.56 41.92 42.52 43.11 43.47 44.07 47.70 51.86 53.83
DHBK 40.80 39.37 40.17 40.66 41.47 42.27 42.76 43.57 45.73 48.19 50.71
QIBK 97.10 92.97 95.18 96.55 98.77 100.98 102.35 104.57 112.81 113.74 109.53
QIIK 60.70 59.63 60.05 60.31 60.73 61.15 61.41 61.83 67.82 71.62 75.53
Insurance
QATI 78.40 77.13 77.86 78.31 79.03 79.76 80.21 80.93 85.88 90.52 90.99
Consumer Goods & Services
MCGS 113.70 102.03 105.43 107.53 110.93 114.33 116.43 119.83 132.75 149.93 161.36
Industrials
IQCD 104.00 99.20 100.58 101.42 102.80 104.18 105.02 106.40 108.66 117.67 128.50
QEWS 205.80 201.87 203.89 205.14 207.17 209.19 210.44 212.47 209.56 210.54 211.60
GISS 45.05 43.75 44.40 44.80 45.45 46.10 46.50 47.15 53.52 58.45 69.80
QIGD 32.90 32.37 32.65 32.83 33.12 33.40 33.58 33.87 39.26 42.98 46.21
Real Estate
BRES 35.90 34.93 35.47 35.80 36.33 36.87 37.20 37.73 40.98 42.59 46.15
UDCD 19.70 19.21 19.41 19.53 19.73 19.93 20.05 20.25 21.47 22.67 23.09
ERES 14.65 14.32 14.51 14.63 14.82 15.01 15.13 15.32 16.62 17.68 17.62
MRDS 13.29 12.96 13.12 13.21 13.36 13.52 13.61 13.76 14.91 15.58 17.02
Telecommunication
ORDS 74.80 71.87 73.09 73.84 75.07 76.29 77.04 78.27 72.59 73.25 82.61
VFQS 11.80 11.51 11.64 11.71 11.83 11.96 12.03 12.15 12.37 13.23 15.02
Transportation
QGTS 22.40 21.73 22.00 22.17 22.43 22.70 22.87 23.13 23.81 23.25 22.82
QNNS 93.50 89.37 90.55 91.28 92.47 93.65 94.38 95.57 96.18 96.65 97.56
Sources: 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 6535
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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