The document provides a daily market report and analysis for Qatar stocks. It summarizes the day's performance of the QSE Index and key stocks, and analyzes trends and levels of resistance and support. It also provides technical indicators and charts for GWCS stock, identifying a target price of QR52 based on the breakdown of an uptrend and moving average signals.

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Daily Technical Trader – Qatar
Thursday, 26 November 2015
Stock Covered Today
Ticker Price 1
st
Target
GWCS 55.90 52.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,511.50 -0.95 4.8
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,600 10,800 10,900
Support 10,500 10,300 10,000
QSE Index Commentary
Overview:
Dropping below 10,600 for the second
time drove the QSE Index down to the
next support, around the 10,500 level. We
expect to see bounces but they might be
used to exit the market than to actually
reverse the course of the trend upwards.
Expected Resistance Level: 10,600
Expected Support Level: 10,500
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 25 Nov 24 Nov %Ch.
Value Traded (QR mn) 175.4 229.2 -23.5
Ex. Mkt. Cap. (QR bn) 552.7 558.1 -1.0
Volume (mn) 4.0 5.6 -28.9
Number of Trans. 3,396 4,383 -22.5
Companies Traded 39 40 -2.5
Market Breadth 6:31 9:29 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,338.62 -0.9 17.5
All Share Index 2,805.20 -0.9 16.4
Banks 2,812.77 -1.1 17.1
Industrials 3,104.58 -1.4 17.8
Transportation 2,496.94 -1.1 41.8
Real Estate 2,461.04 -0.4 24.3
Insurance 4,242.91 -0.7 40.0
Telecoms 948.00 0.1 35.3
Consumer 6,334.53 -0.1 29.6
Al Rayan Islamic 3,954.62 -0.8 17.0
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
MARK 38.00 -1.7 17.6
QCFS 38.00 0.0 17.7
QNBK 165.10 -1.7 20.2
UDCD 21.70 0.3 20.3
GISS 52.00 -4.1 20.3
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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GWCS
Price % Ch. Volume
Last 55.90 -6.83 134,484
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 63.50 70.00 78.00
Support 55.30 52.00 43.30
Commentary
Overview:
This is a long-term recommendation on
the name; weekly and daily price charts
were used to display our work. The name
broke below a significant uptrend line (the
dashed green line). In addition, the price is
printing below its moving averages on
both indicated time frames. The MACD’s
direction is also down. A bounce above
QR60.00 might save the name and put it
back into the uptrend track.
Expected Price Retreat: QR52.00 –
QR43.70
A weekly closing below QR55.30 triggers
the sell recommendation.
(Weekly)
Source: Bloomberg, QNBFS Research
(Daily)
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 10,511.50 10,423.05 10,467.47 10,494.91 10,539.32 10,583.74 10,611.18 10,655.59 11,396.63 11,535.60 11,818.93
Total Return 16,338.62 16,201.14 16,270.18 16,312.83 16,381.87 16,450.91 16,493.56 16,562.60 17,714.43 17,930.39 18,303.21
All Share 2,805.20 2,786.51 2,796.83 2,803.21 2,813.52 2,823.84 2,830.22 2,840.53 3,032.87 3,075.85 3,145.54
Al Rayan Islamic 3,954.62 3,913.03 3,931.58 3,943.04 3,961.60 3,980.15 3,991.61 4,010.17 4,313.45 4,417.39 4,466.36
Banks & Financials Services
MARK 38.00 37.40 37.72 37.93 38.25 38.57 38.78 39.10 42.33 43.22 45.17
CBQK 47.90 47.27 47.63 47.85 48.22 48.58 48.80 49.17 53.89 54.81 56.40
DHBK 45.00 44.57 44.81 44.97 45.22 45.46 45.62 45.87 49.21 50.77 52.36
QIBK 116.70 115.83 116.10 116.27 116.53 116.80 116.97 117.23 117.21 113.40 108.56
QIIK 69.80 68.27 68.80 69.13 69.67 70.20 70.53 71.07 74.26 75.79 78.60
Insurance
QATI 85.00 83.27 83.95 84.38 85.07 85.75 86.18 86.87 92.69 95.38 90.28
Consumer Goods & Services
MCGS 139.50 132.63 134.70 135.97 138.03 140.10 141.37 143.43 160.50 168.21 165.11
Industrials
IQCD 107.10 104.63 105.70 106.36 107.43 108.50 109.16 110.23 120.63 127.03 134.87
QEWS 209.00 207.00 207.76 208.24 209.00 209.76 210.24 211.00 211.64 214.38 208.87
GISS 52.00 49.07 50.44 51.29 52.67 54.04 54.89 56.27 62.52 65.29 76.66
QIGD 39.65 38.95 39.33 39.57 39.95 40.33 40.57 40.95 44.85 47.18 46.98
Real Estate
BRES 41.65 41.02 41.25 41.39 41.62 41.85 41.99 42.22 43.74 45.65 47.48
UDCD 21.70 21.37 21.52 21.61 21.77 21.92 22.01 22.17 23.69 24.08 23.60
ERES 16.89 16.46 16.60 16.68 16.81 16.95 17.03 17.16 18.70 18.29 17.69
MRDS 15.10 14.87 14.97 15.02 15.11 15.21 15.26 15.35 16.14 16.76 17.68
Telecommunication
ORDS 72.00 71.27 71.50 71.64 71.87 72.10 72.24 72.47 75.50 76.48 88.61
VFQS 12.24 11.93 12.02 12.07 12.17 12.26 12.31 12.41 13.79 14.45 15.89
Transportation
QGTS 24.39 24.03 24.14 24.22 24.33 24.44 24.52 24.63 23.88 22.92 22.98
QNNS 96.60 95.27 95.88 96.26 96.87 97.48 97.86 98.47 97.88 97.51 99.09
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 saugata.sarkar@qnbfs.com shahan.keushgerian@qnbfs.com
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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
Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an offer,
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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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