The document provides a daily technical analysis report on stocks traded on the Qatar Stock Exchange (QSE). It includes: - An overview of the QSE Index rising 0.7% and forming a bullish continuation pattern. Resistance is seen at 12,400 points and support at 12,100 points. - Analysis of two stocks, CBQK and IHGS, with technical indicators and resistance/support levels provided. CBQK is seen moving higher if it breaks above QR57.20. IHGS just breached above an important resistance level at QR132.30. - Tables with market indicators, index levels, moving averages, Fibonacci support/resistance levels and top gainers

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Daily Technical Trader – Qatar
Wednesday, 06 May 2015
Stocks Covered Today
Ticker Price 1
st
Target
CBQK 56.90 58.40
IHGS 132.30 140.00
QSE Index
Level % Ch. Vol. (mn)
Last 12,207.64 0.7 5.3
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 12,400 12,600 12,800
Support 12,200 12,100 12,000
QSE Index Commentary
Overview:
The QSE Index rose by 0.7% after starting
the session with a minute correction. It is
worth noting that the Index created a Flag
formation, which is a bullish continuation
pattern in this case. Volumes are picking
up and we maintain our resistance around
12,400 points.
Expected Resistance Level: 12,400
Expected Support Level: 12,100
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 05 May 15 04 May 15 %Ch.
Value Traded (QR mn) 374.9 371.9 0.8
Ex. Mkt. Cap. (QR bn) 657.5 653.1 0.7
Volume (mn) 9.1 8.3 9.7
Number of Trans. 5,643 4,886 15.5
Companies Traded 43 41 4.9
Market Breadth 28:11 12:28 –
QE Indices
Market Indices Close 1D% RSI
Total Return 18,971.31 0.7 61.6
All Share Index 3,265.37 0.6 62.9
Banks 3,258.27 1.0 59.3
Industrials 4,070.02 0.4 63.2
Transportation 2,501.93 -0.3 59.2
Real Estate 2,606.71 0.0 61.8
Insurance 4,192.70 0.0 59.8
Telecoms 1,312.11 2.4 46.4
Consumer 7,507.00 0.5 74.4
Al Rayan Islamic 4,657.36 0.5 69.0
RSI 14 (Over Bought)
Ticker Close 1D% RSI
QGMD 16.39 10.0 79.0
MERS 250.00 0.0 78.9
MCGS 174.00 0.3 75.9
IHGS 132.30 10.0 75.6
QEWS 212.70 0.3 73.9
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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CBQK
Price % Ch. Volume
Last 56.90 0.35 121,231
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 57.20 58.40 59.50
Support 56.00 55.00 54.90
Commentary
Overview:
CBQK has been in a range for just over a
month. Technical evidence suggests the
name might move higher – based on price
movement. It will be a tricky trade
because the name is still trading below its
Simple Moving Averages.
Expected Target Price: QR58.40 –
QR59.50
A break above QR57.20 is needed to
trigger the buy recommendation.
Suggested Stop-Loss Price: QR56.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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IHGS
Price % Ch. Volume
Last 132.30 9.98 446,352
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 132.30 140.00 156.45
Support 125.00 121.40 120.00
Commentary
Overview:
The name just breached above a very
important resistance level which implies
bullish attitude of traders. Such a break
that comes close and above the SMAs is
usually accompanied with volatility. As a
result, we have put our stop-loss away
from the current price.
Expected Target Price: QR140.00 –
QR156.40
A break above QR132.30 is needed to
trigger the buy recommendation.
Suggested Stop-Loss Price: QR120.00
(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 12,207.64 12,075.68 12,113.49 12,136.84 12,174.65 12,212.46 12,235.81 12,273.62 11,944.79 12,036.31 12,766.58
Total Return 18,971.31 18,766.23 18,824.99 18,861.28 18,920.04 18,978.80 19,015.09 19,073.85 18,440.90 18,285.53 19,207.97
All Share 3,265.37 3,234.84 3,243.58 3,248.99 3,257.74 3,266.48 3,271.89 3,280.64 3,178.10 3,147.38 3,281.36
Al Rayan Islamic 4,657.36 4,611.91 4,624.93 4,632.97 4,646.00 4,659.02 4,667.06 4,680.09 4,407.17 4,263.51 4,417.45
Banks & Financials Services
MARK 48.50 47.43 47.74 47.93 48.23 48.54 48.73 49.03 47.42 46.55 49.84
CBQK 56.90 56.37 56.52 56.61 56.77 56.92 57.01 57.17 58.89 60.17 62.43
DHBK 54.90 54.30 54.49 54.61 54.80 54.99 55.11 55.30 52.92 54.80 57.04
QIBK 103.00 101.53 101.95 102.21 102.63 103.05 103.31 103.73 100.97 102.26 106.82
QIIK 81.00 79.67 80.05 80.28 80.67 81.05 81.28 81.67 81.37 81.33 84.05
Insurance
QATI 80.80 80.33 80.49 80.58 80.73 80.89 80.98 81.13 77.92 77.03 79.96
Consumer Goods & Services
MCGS 174.00 171.00 172.15 172.85 174.00 175.15 175.85 177.00 153.13 138.60 131.56
Industrials
IQCD 148.90 146.83 147.44 147.82 148.43 149.04 149.42 150.03 142.49 150.38 168.74
QEWS 212.70 209.23 210.23 210.84 211.83 212.83 213.44 214.43 193.46 191.68 189.72
GISS 87.00 85.33 86.10 86.57 87.33 88.10 88.57 89.33 90.45 93.87 105.80
QIGD 46.85 45.68 46.22 46.55 47.08 47.62 47.95 48.48 43.07 41.36 47.40
Real Estate
BRES 49.05 48.22 48.52 48.71 49.02 49.32 49.51 49.82 47.79 46.01 44.58
UDCD 23.22 22.65 22.83 22.94 23.13 23.31 23.42 23.61 22.34 23.08 25.52
ERES 16.92 16.64 16.74 16.79 16.89 16.99 17.04 17.14 16.14 15.69 17.63
MRDS 18.99 18.73 18.81 18.85 18.93 19.01 19.05 19.13 18.11 18.28 19.99
Telecommunication
ORDS 99.60 96.60 97.48 98.02 98.90 99.78 100.32 101.20 104.21 110.09 118.33
VFQS 17.20 16.57 16.76 16.88 17.07 17.26 17.38 17.57 17.53 16.76 18.42
Transportation
QGTS 22.71 22.46 22.53 22.57 22.65 22.72 22.76 22.84 23.08 23.22 23.69
QNNS 100.00 99.07 99.33 99.50 99.77 100.03 100.20 100.47 101.70 100.08 98.42
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 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
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