The QSE Index moved sideways and remains trapped between the 10,000 resistance and the 9,800 support levels.

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Daily Technical Trader – Qatar
Thursday, 18 February 2016
Stocks Covered Today
Ticker Price Target
BRES 36.90 35.80
ERES 14.30 15.15
QSE Index
Level % Ch. Vol. (mn)
Last 9,814.52 -0.59 7.8
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,000 10,250 10,350
Support 9,800 9,600 9,400
QSE Index Commentary
Overview:
The QSE Index moved sideways and
remains trapped between the 10,000
resistance and the 9,800 support levels.
The good news is that the MACD moved
above the zero line on the daily and the
intra-day charts, the uptrend line in the
short term remains intact and the Index is
located above the 50SMA on the daily
chart. That been said, the Index needs
higher volumes with any uptick to restore
confidence in the market.
Expected Resistance Level: 10,000
Expected Support Level: 9,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 17 Feb 16 Feb %Ch.
Value Traded (QR mn) 229.0 385.2 -40.5
Ex. Mkt. Cap. (QR bn) 522.9 525.3 -0.5
Volume (mn) 7.6 14.2 -46.5
Number of Trans. 4,059 5,694 -28.7
Companies Traded 40 36 11.1
Market Breadth 14:22 19:15 –
QE Indices
Market Indices Close 1D% RSI
Total Return 15,306.72 -0.6 57.0
All Share Index 2,618.27 -0.7 57.0
Banks 2,674.57 -0.3 58.5
Industrials 2,832.34 -0.9 51.5
Transportation 2,343.39 -2.5 56.3
Real Estate 2,133.98 -1.1 54.4
Insurance 4,181.10 0.0 62.0
Telecoms 1,050.80 -0.9 59.8
Consumer Goods 5,780.23 0.1 65.0
Al Rayan Islamic 3,472.73 -1.8 52.5
RSI 14 (Over Bought)
Ticker Close 1D% RSI
SIIS 12.40 3.1 74.5
QFLS 156.80 -0.1 71.2
RSI 14 (Over Sold)
Ticker Close 1D% RSI
DBIS 11.38 -0.1 20.7
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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BRES
Price % Ch. Volume
Last 36.90 -1.99 180,996
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 38.00 38.50 39.60
Support 36.70 35.80 35.30
Commentary
Overview:
The name gained over 37% from its
lowest dip in January. The price reached
the top side of the downtrend channel
(seen in red on the daily chart). We might
see some profit booking at this stage.
Expected Price retreat: QR35.80 – QR35.30
A price breach below QR36.70 triggers the
sell recommendation.
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

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ERES
Price % Ch. Volume
Last 14.30 -1.38 507,400
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 14.70 15.15 15.74
Support 14.20 14.00 13.62
Commentary
Overview:
The name is facing lots of selling pressure,
but it stabilized above the QR14.20. This
is a very strict recommendation as the
name could see profit taking specifically if
it breaks below the QR14.20. As a result,
adherence to the trigger price of QR14.70
is paramount to prove a strong breakaway
above the downtrend channel and the
50SMA.
Expected Target Price: QR15.15 – QR15.74
A price breakaway above QR14.70
triggers the buy recommendation.
Suggested Stop-Loss Price: QR14.20
(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 9,814.52 9,717.29 9,753.60 9,776.03 9,812.34 9,848.65 9,871.08 9,907.39 9,654.13 10,442.67 11,154.29
Total Return 15,306.72 15,155.09 15,211.71 15,246.70 15,303.33 15,359.95 15,394.94 15,451.57 15,017.12 16,237.20 17,339.74
All Share 2,618.27 2,592.71 2,603.00 2,609.35 2,619.64 2,629.93 2,636.28 2,646.57 2,572.91 2,781.59 2,975.09
Al Rayan Islamic 3,472.73 3,420.59 3,444.28 3,458.91 3,482.60 3,506.29 3,520.92 3,544.61 3,506.16 3,873.55 4,223.51
Banks & Financials Services
MARK 35.40 34.73 35.00 35.17 35.43 35.70 35.87 36.13 34.61 38.04 41.50
CBQK 43.90 42.47 42.89 43.15 43.57 43.99 44.25 44.67 42.61 47.55 51.59
DHBK 40.20 39.20 39.51 39.69 40.00 40.31 40.49 40.80 40.24 44.38 48.66
QIBK 99.00 96.07 97.63 98.60 100.17 101.73 102.70 104.27 97.94 107.67 108.10
QIIK 66.50 64.57 65.18 65.56 66.17 66.78 67.16 67.77 62.83 68.08 73.14
Insurance
QATI 88.00 84.33 85.48 86.19 87.33 88.48 89.19 90.33 80.81 86.20 91.15
Consumer Goods & Services
MCGS 98.50 94.83 96.36 97.31 98.83 100.36 101.31 102.83 103.58 129.30 152.75
Industrials
IQCD 105.00 102.13 103.05 103.62 104.53 105.45 106.02 106.93 101.26 109.33 122.62
QEWS 202.00 200.67 201.43 201.90 202.67 203.43 203.90 204.67 199.49 204.99 211.02
GISS 31.75 29.78 30.47 30.90 31.58 32.27 32.70 33.38 43.52 52.35 62.67
QIGD 28.90 27.90 28.36 28.64 29.10 29.56 29.84 30.30 32.14 37.95 44.24
Real Estate
BRES 36.90 36.17 36.51 36.72 37.07 37.41 37.62 37.97 35.77 39.62 44.18
UDCD 20.75 19.96 20.19 20.33 20.55 20.78 20.92 21.14 19.36 21.36 22.70
ERES 14.30 14.03 14.15 14.22 14.34 14.46 14.53 14.65 14.57 16.48 17.27
MRDS 11.53 11.28 11.35 11.40 11.48 11.55 11.60 11.68 12.70 14.35 16.14
Telecommunication
ORDS 86.80 84.87 85.52 85.92 86.57 87.22 87.62 88.27 75.93 75.53 79.61
VFQS 10.36 10.20 10.27 10.31 10.38 10.45 10.49 10.56 11.17 12.36 14.05
Transportation
QGTS 23.00 22.60 22.79 22.91 23.10 23.29 23.41 23.60 22.09 23.09 22.66
QNNS 93.60 92.73 93.23 93.54 94.03 94.53 94.84 95.33 91.35 94.55 96.18
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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