The Index created a bearish engulfing candlestick, which can have a negative impact on today’s performance. International oil prices will have its weigh on the overall market based on the recent correlation seen between the oil price performance and the Saudi Tadawul Index.

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Daily Technical Trader – KSA
Monday, 18 April 2016
Today’s coverage
Ticker Price (SAR) 1
st
Target
SABIC 75.67 72.20
TASI All Share Index
Level % Ch. Vol. (mn)
Last 6,412.37 -1.48 301.5
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,450 6,700 6,850
Support 6,260 6,170 6,100
TASI All Share Index Commentary
Overview:
The Index created a bearish engulfing
candlestick, which can have a negative
impact on today’s performance.
International oil prices will have its weigh
on the overall market based on the recent
correlation seen between the oil price
performance and the Saudi Tadawul
Index.
Expected Resistance Level: 6,450
Expected Support Level: 6,260
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 17 Apr 14 Apr %Ch.
Value (SAR bn) 5.2 5.5 -5.8
Mkt. Cap. (SAR bn) 1,466.7 1,489.9 -1.6
Volume (mn) 329.0 321.7 2.3
Transactions 116,297 122,089 -4.7
Companies Traded 168 167 0.6
Market Breadth 28:135 91:71 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 14,734.30 -0.58 62.55
Petrochem 4,121.68 -2.15 55.40
Cement 4,366.94 -1.12 50.16
Retail 10,031.13 -0.66 56.23
Energy and Utilities 5,874.85 -2.02 57.81
Agriculture and Food 8,080.90 -2.50 57.51
Telecom 1,577.59 -1.22 51.07
Insurance 1,159.04 -3.17 53.67
Multi-Investment 2,831.11 -2.26 54.31
Industrial Invest. 5,464.88 -1.39 43.47
Building and Const. 2,029.03 -1.21 61.67
RE Development 5,891.13 -2.07 54.84
Transportation 6,879.60 -4.43 52.05
Media & Publishing 2,739.46 -1.64 44.46
Hotel and Tourism 9,301.10 -1.90 41.45
RSI 14 (Over Bought) From Page 3 Table
Name Close 1D% RSI
AL RAJHI BANK 57.42 1.2 73.8
RSI 14 (Over Sold) From Page 3 Table
Name Close 1D% RSI
TASI (30min)
Source: Bloomberg, QNBFS Research

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SABIC
Price (SAR) % Ch. Volume
Last 75.67 -1.15 8,206,450
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 76.00 78.50 80.00
Support 75.20 72.20 71.00
Commentary
Overview:
We sent a sell recommendation on the
name on the 17
th
of last March. It did not
drop to the expected levels, yet. The price
remains in a downtrend channel over the
medium term and it has been in a range
squeeze over the past few weeks.
Expected Price Target: SAR72.20 –
SAR71.00
A price breach below SAR75.20 triggers
the sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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Intraday Fibonacci Sup/Res Levels for the Most Active in Traded Value 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
ADVANCED PETROCH 41.00 39.80 40.45 40.85 41.50 42.15 42.55 43.20 38.91 38.99 43.74
AL ALAMIYA COOP 30.25 29.42 29.80 30.03 30.42 30.80 31.03 31.42 30.25 40.13 48.88
AL RAJHI BANK 57.42 56.14 56.71 57.07 57.64 58.21 58.57 59.14 53.18 51.53 54.08
AL TAYYAR TRAVEL 34.81 33.87 34.37 34.67 35.17 35.67 35.97 36.47 36.63 48.56 64.99
ALANDALUS PROP 20.04 19.58 19.83 19.98 20.23 20.48 20.63 20.88 21.39 N/A N/A
ALINMA BANK 13.17 12.92 13.04 13.11 13.22 13.34 13.41 13.52 13.19 13.50 15.92
ALINMA TOKIO MAR 19.39 18.93 19.16 19.30 19.53 19.76 19.90 20.13 19.91 20.51 20.68
ASH-SHARQIYAH 40.37 39.79 40.10 40.28 40.59 40.90 41.08 41.39 40.42 44.23 54.50
BANK AL-JAZIRA 13.49 13.13 13.32 13.44 13.63 13.82 13.94 14.13 13.30 14.03 18.03
BUPA ARABIA 118.96 115.65 117.18 118.13 119.65 121.18 122.13 123.65 111.26 109.90 115.88
CO FOR COOP 77.25 70.75 74.47 76.78 80.50 84.22 86.53 90.25 74.77 73.78 81.37
DAR AL ARKAN REA 5.10 5.00 5.06 5.09 5.15 5.21 5.24 5.30 4.89 5.30 6.31
EMAAR ECONOMIC 13.70 13.40 13.53 13.62 13.75 13.88 13.97 14.10 13.24 12.70 12.04
ETIHAD ETISALAT 30.96 30.39 30.62 30.76 30.99 31.22 31.36 31.59 26.67 26.55 27.85
JABAL OMAR DEVEL 57.43 55.81 56.67 57.20 58.06 58.92 59.45 60.31 53.77 52.66 58.60
KNOWLEDGE ECON 13.91 13.40 13.65 13.81 14.05 14.30 14.46 14.70 12.58 13.02 16.23
MALATH INSURANCE 15.22 14.81 15.02 15.15 15.36 15.57 15.70 15.91 14.39 16.40 20.94
MEDITERRANEAN 22.20 21.50 21.82 22.03 22.35 22.67 22.88 23.20 19.48 21.14 25.64
MOBILE TELECOM 8.90 8.63 8.75 8.82 8.93 9.05 9.12 9.23 7.41 7.50 8.76
NATIONAL COMM 42.40 40.80 41.30 41.60 42.10 42.60 42.90 43.40 40.47 43.61 50.19
NATIONAL SHIPPING 42.38 40.73 41.61 42.15 43.03 43.91 44.45 45.33 38.33 40.06 40.54
RABIGH REFINING 11.05 10.52 10.80 10.98 11.27 11.55 11.73 12.02 10.13 10.73 14.28
SABB TAKAFUL 24.98 24.59 24.77 24.87 25.04 25.22 25.32 25.49 24.70 26.84 33.63
SABIC 75.67 74.39 74.96 75.32 75.89 76.46 76.82 77.39 73.84 74.81 80.64
SAPTCO 11.90 11.63 11.77 11.85 11.98 12.12 12.20 12.33 11.65 13.30 17.43
SASCO 16.82 16.44 16.63 16.75 16.94 17.13 17.25 17.44 16.11 17.71 21.50
SAUDI ARABIAN MI 28.61 28.27 28.46 28.58 28.77 28.96 29.08 29.27 30.34 31.28 32.50
SAUDI CERAMIC 41.35 40.92 41.15 41.29 41.52 41.75 41.89 42.12 38.11 41.14 52.64
SAUDI GROUND 42.05 40.42 41.30 41.84 42.72 43.60 44.14 45.02 42.58 42.83 53.49
SAUDI KAYAN PETR 5.33 5.11 5.22 5.30 5.41 5.52 5.60 5.71 5.02 5.74 7.47
SAUDI PAPER MAN 13.15 12.85 13.00 13.10 13.25 13.40 13.50 13.65 13.68 15.10 16.88
SAUDI PRINTING 20.18 19.93 20.06 20.14 20.28 20.41 20.49 20.63 20.85 21.92 19.51
SAUDI RESEARCH 39.98 39.33 39.59 39.76 40.03 40.29 40.46 40.73 41.38 45.02 31.22
SAUDI TELECOM CO 61.25 60.08 60.75 61.16 61.83 62.50 62.91 63.58 65.17 64.84 64.76
SAUDI TRANSPORT 50.80 48.10 49.44 50.26 51.60 52.94 53.76 55.10 51.97 56.55 58.94
SHAMS 35.76 35.05 35.40 35.61 35.95 36.30 36.51 36.85 36.39 36.30 37.28
THIMAR 31.53 30.78 31.16 31.39 31.78 32.16 32.39 32.78 33.45 34.44 43.47
TIHAMA 35.79 35.06 35.45 35.68 36.06 36.45 36.68 37.06 36.80 32.12 43.87
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 Intraday 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 6509
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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