The document provides a daily technical analysis of the Qatari stock market and individual stocks. It summarizes the previous day's market activity and discusses key support and resistance levels. For the QSE Index, it expects more volatility and a potential decline given the index's downtrend and sensitivity to oil price fluctuations. For the stock IQCD, it recommends selling if the price breaches a support level of 101.50 Qatari Riyals as it expects the price to retreat further. The analysis also includes charts and indicators to identify trends and potential price targets for stocks.

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Daily Technical Trader – Qatar
Sunday, 13 December 2015
Stock Covered Today
Ticker Price 1
st
Target
IQCD 102.70 100.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,014.82 -0.04 8.2
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,300 10,500 10,800
Support 10,000 9,900 9,800
QSE Index Commentary
Overview:
The QSE Index stabilized another week
above the 10,000 level. The Index is
prone to oil prices fluctuations and
Friday’s drop in oil prices could have a
strong influence on the general market
sentiment. As a result, we expect more
volatility on our down-trending market.
Expected Resistance Level: 10,300
Expected Support Level: 10,000
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 10 Dec 09 Dec %Ch.
Value Traded (QR mn) 256.2 391.0 -34.5
Ex. Mkt. Cap. (QR bn) 528.8 528.5 0.1
Volume (mn) 7.0 8.9 -20.9
Number of Trans. 4,123 5,006 -17.6
Companies Traded 39 42 -7.1
Market Breadth 19:16 9:29 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,566.60 0.0 26.5
All Share Index 2,670.67 0.0 25.5
Banks 2,720.64 -0.9 32.5
Industrials 3,002.13 0.1 31.2
Transportation 2,419.71 1.8 38.3
Real Estate 2,225.73 1.8 29.2
Insurance 4,003.49 -1.7 33.4
Telecoms 909.97 2.0 41.0
Consumer 5,812.56 -0.4 11.9
Al Rayan Islamic 3,694.44 0.0 21.5
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 38.00 0.0 17.7
ZHCD 84.00 0.0 18.1
MCGS 120.30 -5.1 18.6
MRDS 14.10 -0.1 20.5
DOHI 20.03 -0.9 23.6
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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IQCD
Price % Ch. Volume
Last 102.70 -1.15 162,995
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 105.00 110.00 113.00
Support 101.50 100.00 94.50
Commentary
Overview:
IQCD has been in a downtrend for the
past year; this trend might continue. We
realize that the price is just above an
important support. The mentioned support
lies around the QR100.00 mark. It is a
psychological figure that happened to be
at the lower border of the downtrend
channel. As a result, we expect the price
to tumble further once it breaks below the
QR100.00 because once it does breach
that limit, it will hit the fresh five-year low
territory.
Expected Price Retreat: QR100.00 –
QR94.50
A price breach below QR101.50 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 10,014.82 9,813.24 9,874.77 9,912.79 9,974.32 10,035.85 10,073.87 10,135.40 11,149.93 11,355.95 11,694.98
Total Return 15,566.60 15,253.29 15,348.92 15,408.01 15,503.65 15,599.28 15,658.37 15,754.01 17,330.97 17,651.19 18,146.04
All Share 2,670.67 2,621.54 2,636.23 2,645.31 2,659.99 2,674.68 2,683.76 2,698.44 2,968.71 3,026.69 3,117.69
Al Rayan Islamic 3,694.44 3,615.48 3,641.72 3,657.92 3,684.16 3,710.40 3,726.60 3,752.84 4,205.39 4,329.36 4,434.61
Banks & Financials Services
MARK 36.30 35.20 35.52 35.73 36.05 36.37 36.58 36.90 41.08 42.29 44.52
CBQK 45.10 43.37 44.04 44.45 45.12 45.79 46.20 46.87 51.86 53.89 55.49
DHBK 44.60 43.40 43.74 43.96 44.30 44.64 44.86 45.20 48.23 50.00 51.68
QIBK 113.00 112.27 112.65 112.88 113.27 113.65 113.88 114.27 117.39 114.41 109.04
QIIK 65.10 63.57 64.18 64.56 65.17 65.78 66.16 66.77 72.81 74.57 77.55
Insurance
QATI 80.50 79.03 79.87 80.39 81.23 82.07 82.59 83.43 90.97 94.12 90.48
Consumer Goods & Services
MCGS 120.30 115.50 118.14 119.76 122.40 125.04 126.66 129.30 152.38 162.09 164.38
Industrials
IQCD 102.70 100.17 100.97 101.46 102.27 103.07 103.56 104.37 116.31 123.55 132.25
QEWS 208.00 205.47 206.19 206.64 207.37 208.09 208.54 209.27 210.53 212.55 209.46
GISS 51.30 47.57 48.83 49.61 50.87 52.13 52.91 54.17 60.41 62.46 73.84
QIGD 36.05 34.08 34.81 35.26 35.98 36.71 37.16 37.88 43.32 45.59 46.81
Real Estate
BRES 40.00 38.40 38.93 39.27 39.80 40.33 40.67 41.20 43.34 44.51 47.05
UDCD 19.80 18.86 19.15 19.32 19.61 19.90 20.07 20.36 23.13 23.67 23.40
ERES 14.85 13.95 14.26 14.46 14.77 15.08 15.28 15.59 18.15 18.11 17.63
MRDS 14.10 13.83 13.93 13.99 14.10 14.20 14.26 14.37 15.91 16.35 17.42
Telecommunication
ORDS 70.70 68.10 68.90 69.40 70.20 71.00 71.50 72.30 74.77 75.04 86.25
VFQS 11.02 10.54 10.71 10.82 10.99 11.16 11.27 11.44 13.39 13.94 15.55
Transportation
QGTS 22.88 21.89 22.18 22.36 22.64 22.93 23.11 23.39 24.12 23.08 22.90
QNNS 96.30 96.30 96.30 96.30 96.30 96.30 96.30 96.30 97.69 97.58 98.71
Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock close 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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