The QSE Index dropped to almost 1.5% during the previous session but managed to recover some of the losses.

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Daily Technical Trader – Qatar
Thursday, 11 February 2016
Stocks Covered Today
Ticker Price 1
st
Target
CBQK 41.60 40.50
MERS 190.00 184.20
QSE Index
Level % Ch. Vol. (mn)
Last 9,619.48 -0.81 6.2
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,800 10,000 10,300
Support 9,600 9,400 9,150
QSE Index Commentary
Overview:
The QSE Index dropped to almost 1.5%
during the previous session but managed
to recover some of the losses. That been
said, weakness persists and we are
leaning towards the expectation of a
downward correction.
Expected Resistance Level: 9,800
Expected Support Level: 9,600
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 10 Feb 08 Feb %Ch.
Value Traded (QR mn) 256.0 336.7 -24.0
Ex. Mkt. Cap. (QR bn) 513.2 517.0 -0.7
Volume (mn) 7.4 10.4 -28.6
Number of Trans. 4,283 5,420 -21.0
Companies Traded 39 40 -2.5
Market Breadth 10:26 28:7 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,002.53 -0.8 53.7
All Share Index 2,568.68 -0.7 53.9
Banks 2,632.29 -1.0 55.8
Industrials 2,768.23 -0.3 46.2
Transportation 2,304.21 -0.3 55.4
Real Estate 2,106.81 -1.3 53.0
Insurance 4,035.28 0.3 55.8
Telecoms 1,070.12 -0.6 67.3
Consumer 5,420.08 -1.0 54.3
Al Rayan Islamic 3,468.92 -0.4 53.5
RSI 14 (Over Bought)
Ticker Close 1D% RSI
ORDS 88.20 -0.3 72.3
RSI 14 (Over Sold)
Ticker Close 1D% RSI
DBIS 12.00 -1.2 21.2
GISS 31.00 -6.1 23.9
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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CBQK
Price % Ch. Volume
Last 41.60 -2.58 194,880
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 43.00 43.50 44.00
Support 41.60 40.50 40.00
Commentary
Overview:
We recommended buying the name in the
beginning of this month, and it passed the
first expected target price at 42.00 and
was QR0.30 shy off reaching the our
second target at QR43.00. The price could
be losing momentum at the current level.
Expected Price Retreat: QR40.50 –
QR40.00
A price breach below QR41.60 triggers
the sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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MERS
Price % Ch. Volume
Last 190.00 -0.78 26,558
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 200.00 205.00 212.00
Support 190.00 184.20 180.00
Commentary
Overview:
We recommended selling the name back
on the 4
th
of this month. The selling
recommendation still valid (at the time, the
trigger price was QR190.60 and the
breach below that triggered the sell
recommendation). If you are still holding
the name, then your stop should be put
just below the QR190.00, in case it gets
breached.
Expected Price Retreat: QR184.20 –
QR180.00
A price breach below QR190.00 triggers
the sell recommendation.
(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 9,619.48 9,510.38 9,547.81 9,570.93 9,608.36 9,645.79 9,668.91 9,706.34 9,731.25 10,528.65 11,215.41
Total Return 15,002.53 14,832.38 14,890.75 14,926.82 14,985.20 15,043.57 15,079.64 15,138.02 15,131.88 16,368.31 17,433.37
All Share 2,568.68 2,543.09 2,551.61 2,556.87 2,565.39 2,573.91 2,579.17 2,587.69 2,592.92 2,804.07 2,991.46
Al Rayan Islamic 3,468.92 3,426.33 3,440.53 3,449.31 3,463.52 3,477.72 3,486.50 3,500.71 3,548.20 3,916.14 4,252.08
Banks & Financials Services
MARK 33.95 33.52 33.76 33.92 34.17 34.41 34.57 34.82 34.92 38.44 41.86
CBQK 41.60 41.13 41.40 41.57 41.83 42.10 42.27 42.53 43.00 48.19 51.94
DHBK 37.65 37.22 37.35 37.43 37.57 37.70 37.78 37.92 40.92 44.94 49.05
QIBK 97.50 96.03 96.49 96.77 97.23 97.69 97.97 98.43 99.66 108.43 108.15
QIIK 68.00 65.73 66.38 66.78 67.43 68.08 68.48 69.13 63.08 68.49 73.49
Insurance
QATI 83.00 81.67 82.05 82.28 82.67 83.05 83.28 83.67 81.09 86.62 91.02
Consumer Goods & Services
MCGS 101.40 98.00 99.18 99.92 101.10 102.28 103.02 104.20 106.60 132.62 154.54
Industrials
IQCD 100.80 97.27 98.41 99.12 100.27 101.41 102.12 103.27 101.81 110.47 123.68
QEWS 193.00 188.60 190.43 191.57 193.40 195.23 196.37 198.20 200.53 205.75 211.36
GISS 31.00 29.53 30.18 30.58 31.23 31.88 32.28 32.93 45.80 53.85 64.09
QIGD 32.40 30.07 30.85 31.33 32.12 32.90 33.38 34.17 32.99 38.67 44.67
Real Estate
BRES 34.50 33.30 33.83 34.17 34.70 35.23 35.57 36.10 36.38 39.98 44.55
UDCD 19.35 18.08 18.56 18.86 19.35 19.83 20.13 20.62 19.44 21.51 22.76
ERES 14.60 14.45 14.52 14.56 14.63 14.70 14.74 14.81 14.78 16.68 17.34
MRDS 11.39 11.24 11.30 11.33 11.38 11.44 11.47 11.52 13.07 14.57 16.34
Telecommunication
ORDS 88.20 85.87 86.59 87.04 87.77 88.49 88.94 89.67 74.57 74.89 79.89
VFQS 10.64 10.49 10.56 10.60 10.68 10.75 10.79 10.87 11.32 12.51 14.22
Transportation
QGTS 22.30 21.97 22.08 22.14 22.24 22.35 22.41 22.51 22.14 23.06 22.65
QNNS 91.30 88.43 89.39 89.98 90.93 91.89 92.48 93.43 91.83 94.83 96.36
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 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.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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