- The document provides a daily technical analysis report on stocks traded on the Qatar Stock Exchange. It analyzes the movement of the QSE Index and provides commentary on resistance and support levels. - Individual stocks like SIIS and QGMD are also analyzed, with commentary on price trends, technical indicators, and potential price targets and stop loss levels for taking long positions. - Charts and technical data on market indicators, index levels, and moving stock averages are also included.

1. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 6
Daily Technical Trader – Qatar
Monday, 23 March 2015
Stocks Covered Today
Ticker Price Target
SIIS 13.13 13.70
QGMD 10.69 11.35
QSE Index
Level % Ch. Vol. (mn)
Last 11,517.48 -0.1 6.7
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 11,600 11,700 11,800
Support 11,350 11,200 11,000
QSE Index Commentary
Overview:
The QSE Index created a Doji candlestick
in the previous session after the Bullish
Harami the session before. This signifies
indecision among investors after the sharp
drop (over 10%) the Index experienced
since February’s peak. We remain
cautious for the time being with regards to
the direction of the Index. However, we
are leaning towards a bounce at this point.
Expected Resistance Level: 11,600
Expected Support Level: 11,350
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 22 Mar 15 19 Mar 15 %Ch.
Value Traded (QR mn) 214.5 380.0 -43.6
Ex. Mkt. Cap. (QR bn) 623.9 624.4 -0.1
Volume (mn) 4.9 8.3 -41.4
Number of Trans. 3,633 5,660 -35.8
Companies Traded 38 40 -5.0
Market Breadth 15:16 30:9 –
QE Indices
Market Indices Close 1D% RSI
Total Return 17,770.41 0.2 33.9
All Share Index 3,074.77 0.2 33.5
Banks 3,118.03 0.5 34.5
Industrials 3,725.74 -0.9 26.2
Transportation 2,439.92 -0.5 46.8
Real Estate 2,371.22 0.9 45.7
Insurance 4,100.69 2.0 54.1
Telecoms 1,319.58 -0.5 35.0
Consumer 6,856.85 0.2 28.3
Al Rayan Islamic 4,188.01 -0.4 36.4
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
IQCD 132.70 -1.4 18.3
QFLS 183.00 0.8 23.6
QNCD 116.10 -2.5 24.1
CBQK 58.00 -5.8 24.8
SIIS 13.13 -0.5 26.1
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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SIIS
Price % Ch. Volume
Last 13.13 -0.45 57,710
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 13.30 13.70 13.90
Support 12.90 12.25 12.00
Commentary
Overview:
The name is going through a bearish leg
since January. Price has stabilized
recently and might be bound for a bounce.
The RSI reached the oversold area on the
daily and breaching above that area on
the intraday time frame. A bullish move is
needed to break above the downtrend line
(seen on the intraday chart). That bullish
move is the pre-requisite for any long
position to be considered.
Expected Target Price: QR13.70 –
QR13.90
A break above QR13.30 is needed to
trigger the buy recommendation.
Suggested Stop loss: QR13.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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QGMD
Price % Ch. Volume
Last 10.69 1.42 148,186
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 10.90 11.35 11.70
Support 10.45 10.00 9.50
Commentary
Overview:
QGMD is stabilizing above QR10.50,
which is a strong support level created by
previous peaks and troughs since last
December. Technical indicators are flat,
due to trading inside a recent price range.
The stock, at this time, is trading at the
lower part of that range.
Expected Target Price: QR11.35 –
QR11.70
A break above QR10.90 is needed to
trigger the long position on the stock.
Suggested Stop loss: QR10.45
(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 11,517.48 11,381.01 11,436.52 11,470.81 11,526.33 11,581.84 11,616.13 11,671.65 12,155.37 12,520.08 12,895.98
Total Return 17,770.41 17,559.84 17,645.49 17,698.40 17,784.06 17,869.71 17,922.62 18,008.28 18,332.46 18,775.00 19,284.65
All Share 3,074.77 3,040.02 3,053.72 3,062.18 3,075.88 3,089.58 3,098.04 3,111.74 3,161.32 3,219.02 3,287.50
Al Rayan Islamic 4,188.01 4,127.96 4,153.19 4,168.78 4,194.00 4,219.23 4,234.82 4,260.04 4,253.52 4,287.87 4,385.92
Banks & Financials Services
MARK 45.30 44.57 44.85 45.03 45.32 45.60 45.78 46.07 46.51 46.91 50.73
CBQK 58.00 56.07 56.98 57.55 58.47 59.38 59.95 60.87 62.22 63.19 62.93
DHBK 50.50 49.43 49.85 50.11 50.53 50.95 51.21 51.63 56.28 56.86 58.11
QIBK 99.00 96.60 97.44 97.96 98.80 99.64 100.16 101.00 104.39 104.37 105.90
QIIK 76.30 75.30 75.61 75.79 76.10 76.41 76.59 76.90 83.10 83.01 84.46
Insurance
QATI 76.50 70.90 72.58 73.62 75.30 76.98 78.02 79.70 77.05 77.98 78.48
Consumer Goods & Services
MCGS 141.00 131.20 134.68 136.82 140.30 143.78 145.92 149.40 137.28 129.66 119.89
Industrials
IQCD 132.70 129.90 131.24 132.06 133.40 134.74 135.56 136.90 148.98 166.24 174.76
QEWS 180.10 179.30 179.72 179.98 180.40 180.82 181.08 181.50 191.23 189.20 188.04
GISS 86.30 84.43 85.04 85.42 86.03 86.64 87.02 87.63 97.94 101.98 106.56
QIGD 38.80 37.93 38.41 38.71 39.18 39.66 39.96 40.43 40.91 42.38 49.99
Real Estate
BRES 47.10 46.37 46.71 46.92 47.27 47.61 47.82 48.17 46.78 45.97 43.38
UDCD 22.30 20.97 21.39 21.65 22.06 22.48 22.74 23.15 23.99 24.53 26.03
ERES 15.60 15.15 15.28 15.36 15.49 15.62 15.70 15.83 15.61 16.39 18.56
MRDS 18.00 17.60 17.79 17.91 18.10 18.29 18.41 18.60 19.68 20.43 20.85
Telecommunication
ORDS 104.30 100.70 102.38 103.42 105.10 106.78 107.82 109.50 113.63 116.16 124.50
VFQS 17.25 16.85 16.99 17.07 17.21 17.35 17.43 17.57 16.69 17.16 18.71
Transportation
QGTS 22.90 22.23 22.46 22.60 22.83 23.06 23.20 23.43 23.97 23.66 23.72
QNNS 100.90 95.90 97.35 98.25 99.70 101.15 102.05 103.50 102.73 100.39 97.30
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:
Saugata Sarkar QNB Financial Services SPC
Head of Research Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 PO Box 24025
saugata.sarkar@qnbfs.com.qa Doha, Qatar
Sahbi Kasraoui Ahmed Al-Khoudary
Manager – HNWI Head of Sales Trading – Institutional
Tel: (+974) 4476 6544 Tel: (+974) 4476 6548
sahbi.alkasraoui@qnbfs.com.qa ahmed.alkhoudary@qnbfs.com.qa
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the Qatar
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indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically engaged investment advice. We
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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