The document provides a daily market summary and analysis of the Qatar Stock Exchange (QSE) Index and select Qatari stocks. It includes the following key points: - The QSE Index crawled higher by 0.1% on low volumes and technical indicators are flat, suggesting no clear near-term direction. Resistance is at 11,900 and support at 11,800. - IHGS is trading near uptrend support levels and just above its moving averages, with an expected target price of 138.00-142.50 on a breakout above 136.00. - KCBK may rise higher as its MACD is positive and it is trading above moving averages, with a target of

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Daily Technical Trader – Qatar
Monday, 13 July 2015
Stocks Covered Today
Ticker Price 1
st
Target
IHGS 135.40 138.00
KCBK 22.45 23.40
QSE Index
Level % Ch. Vol. (mn)
Last 11,896.02 0.1 5.0
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 11,900 12,200 12,340
Support 11,800 11,700 11,500
QSE Index Commentary
Overview:
The Index crawled higher by 0.1% on low
volumes; technical indicators are flat. So
far, the levelness of the Index signifies no
specific direction in the near term and we
need to wait on strong moves to reassess
the situation.
Expected Resistance Level: 11,900
Expected Support Level: 11,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 12 Jul 09 Jul %Ch.
Value Traded (QR mn) 113.1 298.7 -62.1
Ex. Mkt. Cap. (QR bn) 632.8 632.2 0.1
Volume (mn) 2.4 5.9 -58.9
Number of Trans. 1,908 2,616 -27.1
Companies Traded 41 40 2.5
Market Breadth 22:16 22:16 –
QE Indices
Market Indices Close 1D% RSI
Total Return 18,490.65 0.1 44.0
All Share Index 3,183.83 0.1 43.5
Banks 3,143.11 -0.1 46.2
Industrials 3,831.58 0.3 42.0
Transportation 2,426.76 0.2 38.0
Real Estate 2,701.01 0.5 45.5
Insurance 4,743.63 -0.2 53.8
Telecoms 1,152.33 -0.7 39.1
Consumer 7,307.13 0.1 43.4
Al Rayan Islamic 4,612.63 0.2 43.6
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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IHGS
Price % Ch. Volume
Last 135.40 -0.37 3,702
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 136.00 138.00 142.50
Support 133.90 131.00 126.00
Commentary
Overview:
IHGS has been trading in an uptrend
since the beginning of the year. In
addition, it has been trading close to the
bottom side of the uptrend channel and
just around its SMAs.
Expected Target Price: QR138.00 –
QR142.50
A price breakout above QR136.00 triggers
the buy recommendation.
Suggested Stop-Loss Price: QR133.90
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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KCBK
Price % Ch. Volume
Last 22.45 -0.58 5,675
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 22.75 23.40 24.00
Support 22.00 21.65 21.30
Commentary
Overview:
Although the name has been trading in a
range, it might head higher. The MACD is
above the zero line and the price is trading
above its SMAs. We need a sustained
break above the first resistance level to
better confirm the up-move.
Expected Target Price: QR23.40 –
QR24.00
A price breakout above QR22.75 triggers
the buy recommendation.
Suggested Stop-Loss Price: QR22.00
(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 11,896.02 11,847.35 11,868.72 11,881.92 11,903.28 11,924.65 11,937.85 11,959.21 12,131.79 12,045.73 12,424.08
Total Return 18,490.65 18,415.02 18,448.22 18,468.74 18,501.95 18,535.15 18,555.67 18,588.88 18,854.01 18,647.76 18,879.43
All Share 3,183.83 3,173.87 3,178.57 3,181.47 3,186.17 3,190.87 3,193.77 3,198.47 3,241.71 3,210.08 3,237.07
Al Rayan Islamic 4,612.63 4,593.71 4,600.40 4,604.53 4,611.21 4,617.90 4,622.03 4,628.71 4,672.66 4,535.61 4,431.48
Banks & Financials Services
MARK 45.50 45.30 45.38 45.42 45.50 45.58 45.62 45.70 46.18 46.81 47.58
CBQK 55.50 54.43 54.74 54.93 55.23 55.54 55.73 56.03 55.36 57.23 60.45
DHBK 52.70 52.43 52.55 52.62 52.73 52.85 52.92 53.03 53.90 53.48 55.54
QIBK 106.30 105.43 105.82 106.05 106.43 106.82 107.05 107.43 106.15 103.63 105.13
QIIK 78.60 78.33 78.49 78.58 78.73 78.89 78.98 79.13 79.75 80.71 82.13
Insurance
QATI 97.50 96.10 96.75 97.15 97.80 98.45 98.85 99.50 95.02 86.61 83.06
Consumer Goods & Services
MCGS 183.10 182.83 182.99 183.08 183.23 183.39 183.48 183.63 179.80 165.99 145.59
Industrials
IQCD 135.50 133.97 134.54 134.89 135.47 136.04 136.39 136.97 139.97 141.33 158.01
QEWS 222.60 220.27 221.18 221.75 222.67 223.58 224.15 225.07 218.77 205.72 197.39
GISS 76.60 75.07 75.75 76.18 76.87 77.55 77.98 78.67 80.47 85.63 96.49
QIGD 52.60 50.53 51.30 51.77 52.53 53.30 53.77 54.53 52.78 47.83 46.28
Real Estate
BRES 50.60 50.13 50.36 50.50 50.73 50.96 51.10 51.33 51.32 49.56 46.98
UDCD 24.25 24.12 24.15 24.18 24.22 24.25 24.28 24.32 23.85 23.11 24.29
ERES 17.60 17.37 17.46 17.52 17.62 17.71 17.77 17.87 18.12 17.13 17.12
MRDS 18.32 18.18 18.25 18.30 18.37 18.44 18.49 18.56 18.88 18.49 19.36
Telecommunication
ORDS 84.20 82.73 83.50 83.97 84.73 85.50 85.97 86.73 91.28 98.06 109.03
VFQS 16.40 16.25 16.30 16.33 16.39 16.44 16.47 16.53 16.82 17.19 17.48
Transportation
QGTS 22.10 22.04 22.07 22.10 22.13 22.16 22.19 22.22 22.40 22.77 23.21
QNNS 96.00 95.13 95.63 95.94 96.43 96.93 97.24 97.73 98.19 100.07 99.14
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:
Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
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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
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