The document provides a daily technical analysis of the Tadawul All Share Index (TASI) and the stock Kayan Petrochemical. It analyzes recent price movements and volume activity, and identifies potential support and resistance levels. Tables also show details on market indicators, sector performance, and intraday support and resistance levels for heavily traded stocks.

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Daily Technical Trader – KSA
Wednesday, 09 March 2016
Stock Covered Today
Ticker Price (SAR) 1
st
Target
KAYAN 5.32 5.60
TASI All Share Index
Level % Ch. Vol. (mn)
Last 6,430.87 0.68 380.6
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,420 6,700 7,000
Support 6,260 6,170 6,100
TASI All Share Index Commentary
Overview:
The Doji Star candlestick that has been
created two sessions ago was negated by
the bullish candlestick made yesterday.
That been said, we see possible negative
divergence on the half-hour frame. That
could spark weakness on the Index.
Expected Resistance Level: 6,420
Expected Support Level: 6,260
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 08 Mar 07 Mar %Ch.
Value (SAR bn) 6.9 7.0 -1.6
Mkt. Cap. (SAR bn) 1,483.9 1,473.1 0.7
Volume (mn) 413.2 402.1 2.8
Transactions 150,543 147,554 2.0
Companies Traded 167 167 0.0
Market Breadth 122:44 76:83 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 14,746.52 0.68 67.37
Petrochem 4,165.82 0.21 69.62
Cement 4,570.35 1.62 72.53
Retail 10,471.33 0.66 59.76
Energy and Utilities 5,852.60 0.22 81.89
Agriculture and Food 8,170.98 0.86 69.02
Telecom 1,541.46 0.51 71.07
Insurance 1,115.93 0.47 63.67
Multi-Investment 2,830.14 1.37 66.60
Industrial Invest. 5,803.43 1.61 58.84
Building and Const. 1,989.49 0.98 65.44
RE Development 5,621.88 1.42 70.34
Transportation 6,501.00 0.58 58.33
Media & Publishing 2,888.63 1.03 53.33
Hotel and Tourism 10,007.45 -0.18 45.12
RSI 14 (Over Bought) From Page 3 Table
Name Close 1D% RSI
JABAL OMAR DEVEL 54.07 1.1 75.7
SAUDI TELECOM CO 68.02 0.3 73.9
MOBILE TELECOM 7.08 2.5 73.8
RSI 14 (Over Sold) From Page 3 Table
Name Close 1D% RSI
TASI (30min)
Source: Bloomberg, QNBFS Research

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KAYAN PETROCHEM
Price (SAR) % Ch. Volume
Last 5.32 5.56 41,186,127
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 5.40 5.60 6.00
Support 5.00 4.90 4.60
Commentary
Overview:
Volumes spiked in the past couple months
after a sharp retreat since September of
2014. This increase in volume
accompanied by the creation of higher
tops and higher bottoms (seen on the
daily and intraday chart). That is a
positive sign on the name. Retreats (all
the way to SAR5.00 level) can be used as
accumulation spots.
Expected Price Target: SAR5.60 –
SAR5.80
A price breakout above SAR5.40 triggers
the buy recommendation.
Suggested Stop-Loss Price: SAR4.90
(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 40.47 39.42 39.84 40.10 40.52 40.94 41.20 41.62 35.91 40.74 46.18
AL ALAMIYA COOPE 31.93 29.98 30.78 31.27 32.08 32.88 33.37 34.18 36.41 47.81 53.20
AL RAJHI BANK 53.28 52.43 52.81 53.04 53.43 53.81 54.04 54.43 50.98 50.89 55.80
AL TAYYAR TRAVEL 37.60 37.13 37.32 37.44 37.63 37.82 37.94 38.13 46.27 57.11 74.47
ALANDALUS PROPER 21.33 20.98 21.11 21.19 21.33 21.46 21.54 21.68 N/A N/A N/A
ALINMA BANK 13.58 13.36 13.44 13.48 13.56 13.64 13.68 13.76 13.25 13.89 17.39
ALINMA TOKIO MAR 20.90 20.50 20.71 20.84 21.05 21.26 21.39 21.60 18.99 19.98 22.00
ASH-SHARQIYAH DE 43.35 42.58 42.89 43.08 43.38 43.69 43.88 44.18 40.06 49.30 60.44
BANK AL-JAZIRA 14.01 13.20 13.45 13.61 13.85 14.10 14.26 14.50 13.05 15.16 20.28
BUPA ARABIA 112.70 111.73 112.02 112.20 112.48 112.77 112.95 113.23 109.05 109.30 116.58
CO FOR COOPERATI 74.25 72.58 73.25 73.66 74.33 75.00 75.41 76.08 70.99 74.44 83.63
DAR AL ARKAN REA 4.89 4.60 4.69 4.75 4.85 4.94 5.00 5.10 5.09 5.67 6.88
EMAAR ECONOMIC C 13.76 13.49 13.62 13.70 13.84 13.97 14.05 14.19 12.54 11.53 12.38
ETIHAD ETISALAT 25.40 24.73 25.04 25.23 25.53 25.84 26.03 26.33 23.72 26.40 28.53
JABAL OMAR DEVEL 54.07 53.02 53.41 53.64 54.02 54.41 54.64 55.02 48.28 52.63 61.16
KNOWLEDGE ECON 12.49 12.20 12.31 12.38 12.50 12.61 12.68 12.80 11.81 13.58 18.29
MALATH INSURANCE 14.43 13.98 14.15 14.25 14.43 14.60 14.70 14.88 15.20 18.14 23.40
MEDITERRANEAN & 18.59 17.70 17.96 18.13 18.40 18.66 18.83 19.10 19.20 22.42 29.63
MOBILE TELECOMMU 7.08 6.79 6.89 6.95 7.04 7.14 7.20 7.29 6.46 7.66 9.17
NATIONAL COMM 42.90 42.50 42.65 42.75 42.90 43.05 43.15 43.30 41.47 46.82 53.69
NATIONAL SHIPPIN 38.25 37.62 37.85 37.99 38.22 38.45 38.59 38.82 38.45 41.67 43.51
RABIGH REFINING 10.45 9.68 9.91 10.05 10.28 10.51 10.65 10.88 9.49 11.75 16.00
SABB TAKAFUL 25.82 25.27 25.50 25.64 25.87 26.10 26.24 26.47 24.19 30.42 36.43
SABIC 77.06 76.35 76.74 76.97 77.35 77.74 77.97 78.35 69.35 77.02 84.33
SAPTCO 11.58 11.36 11.44 11.48 11.56 11.64 11.68 11.76 11.65 15.48 19.68
SASCO 16.45 15.98 16.17 16.29 16.48 16.67 16.79 16.98 15.95 19.72 23.36
SAUDI ARABIAN MI 31.73 30.98 31.21 31.35 31.58 31.81 31.95 32.18 30.49 31.73 34.59
SAUDI CERAMIC CO 39.45 38.28 38.67 38.90 39.28 39.67 39.90 40.28 38.00 45.44 58.81
SAUDI GROUND SER 44.15 42.38 42.92 43.25 43.78 44.32 44.65 45.18 40.45 46.37 N/A
SAUDI KAYAN PETR 5.32 4.91 5.04 5.12 5.26 5.39 5.47 5.61 5.22 6.67 8.37
SAUDI PAPER MANU 13.98 13.73 13.84 13.91 14.03 14.14 14.21 14.33 13.72 16.07 18.66
SAUDI PRINTING & 21.47 21.19 21.34 21.44 21.59 21.74 21.84 21.99 20.68 21.62 19.33
SAUDI RESEARCH A 41.78 41.13 41.43 41.62 41.93 42.23 42.42 42.73 44.56 40.15 27.95
SAUDI TELECOM CO 68.02 67.51 67.70 67.82 68.01 68.20 68.32 68.51 63.93 64.58 65.19
SAUDI TRANSPORT 54.54 53.35 53.92 54.27 54.85 55.42 55.77 56.35 54.62 58.63 61.90
SHAMS 38.37 37.32 37.71 37.94 38.32 38.71 38.94 39.32 36.56 35.95 39.13
THIMAR 35.32 34.31 34.73 34.99 35.41 35.83 36.09 36.51 33.40 36.40 49.41
TIHAMA 37.85 37.28 37.59 37.78 38.08 38.39 38.58 38.88 30.18 30.55 51.54
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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