The document provides a daily market summary and technical analysis of the Qatar Stock Exchange (QSE) index. In a short trading session ahead of the Eid holiday, the index is expected to have little movement and remain in an overall upward medium-term trend, while facing short-term correction pressures. Key support and resistance levels for the index are identified at 10,500 and 10,650 respectively. The summary also includes performance indicators for the market and analyses of selected stocks across various sectors.

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Daily Technical Trader – Qatar
Thursday, 08 September 2016
No Stocks Covered Today
QSE Index
Level % Ch. Vol. (mn)
Last 10,634.90 -0.73 4.7
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,650 10,700 11,000
Support 10,500 10,400 10,300
QSE Index Commentary
Overview:
Not much is expected in the last day of
trading ahead of the week-long Eid
holiday. The overall trend is up in the
medium term but facing correcting
pressure in the short term. That been said,
the 10,500 level becomes the next support
to be tested.
Expected Resistance Level: 10,650
Expected Support Level: 10,500
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 07 Sep 06 Sep %Ch.
Value Traded (QR mn) 256.5 348.3 -26.3
Ex. Mkt. Cap. (QR bn) 569.3 572.2 -0.5
Volume (mn) 5.6 8.0 -29.5
Number of Trans. 5,107 6,132 -16.7
Companies Traded 41 41 0.0
Market Breadth 16:23 7:33 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 17,206.57 -0.7 37.7
All Share Index 2,927.98 -0.5 36.4
Banks 2,896.89 -0.4 38.8
Industrials 3,203.15 -1.1 38.1
Transportation 2,534.92 -0.1 38.8
Real Estate 2,563.00 -0.2 28.3
Insurance 4,571.94 -0.9 51.7
Telecoms 1,215.81 -1.1 43.2
Consumer Goods 6,377.24 0.3 30.4
Al Rayan Islamic 4,008.28 -0.5 32.3
RSI 14 (Overbought)
Ticker Close 1D% RSI
RSI 14 (Oversold)
Ticker Close 1D% RSI
MPHC 17.80 -0.8 22.9
MCCS 82.20 -1.0 24.0
QGMD 11.15 0.5 25.0
ERES 18.18 0.1 28.2
GWCS 54.00 -0.6 28.8
QSE Index (30min)
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 10,634.90 10,520.95 10,567.18 10,595.74 10,641.98 10,688.21 10,716.77 10,763.01 10,690.70 10,288.96 10,118.73
Total Return 17,206.57 17,022.18 17,096.99 17,143.21 17,218.01 17,292.82 17,339.04 17,413.84 17,296.83 16,646.85 16,147.09
All Share 2,927.98 2,901.50 2,911.69 2,917.99 2,928.18 2,938.37 2,944.67 2,954.86 2,951.62 2,856.46 2,769.42
Al Rayan Islamic 4,008.28 3,953.39 3,975.52 3,989.20 4,011.34 4,033.47 4,047.15 4,069.29 4,081.55 3,973.55 3,832.28
Banks & Financials Services
MARK 35.50 34.43 34.97 35.30 35.83 36.37 36.70 37.23 36.56 35.12 35.19
CBQK 39.35 38.32 38.78 39.06 39.52 39.98 40.26 40.72 40.33 38.75 40.88
DHBK 37.50 36.93 37.14 37.27 37.48 37.69 37.82 38.03 37.43 36.64 38.38
QIBK 106.30 105.63 105.98 106.19 106.53 106.88 107.09 107.43 107.30 101.80 101.49
QIIK 64.70 63.23 63.77 64.10 64.63 65.17 65.50 66.03 64.60 63.34 64.59
Insurance
QATI 87.00 85.67 86.24 86.59 87.17 87.74 88.09 88.67 82.19 79.08 76.74
Consumer Goods & Services
MCGS 89.00 86.33 87.10 87.57 88.33 89.10 89.57 90.33 94.44 96.47 102.48
Industrials
IQCD 107.40 105.07 106.25 106.98 108.17 109.35 110.08 111.27 107.94 104.02 104.04
QEWS 215.70 211.97 213.72 214.81 216.57 218.32 219.41 221.17 221.97 213.31 206.94
GISS 35.60 34.93 35.12 35.24 35.43 35.62 35.74 35.93 36.42 36.33 38.84
QIGD 49.10 47.03 47.80 48.27 49.03 49.80 50.27 51.03 50.80 50.42 44.22
Real Estate
BRES 35.35 34.48 34.85 35.07 35.43 35.80 36.02 36.38 35.68 33.96 35.18
UDCD 20.30 19.87 20.04 20.15 20.31 20.48 20.59 20.75 20.17 19.46 19.69
ERES 18.18 17.63 17.80 17.90 18.08 18.25 18.35 18.53 19.18 18.51 17.13
MRDS 13.90 13.64 13.73 13.79 13.88 13.97 14.03 14.12 14.19 14.02 13.36
Telecommunication
ORDS 98.80 97.53 98.14 98.52 99.13 99.74 100.12 100.73 96.34 92.13 86.50
VFQS 11.20 11.03 11.11 11.16 11.24 11.32 11.37 11.45 11.47 11.35 11.44
Transportation
QGTS 24.15 23.89 24.00 24.08 24.19 24.30 24.38 24.49 24.20 23.67 23.22
QNNS 90.00 88.07 88.79 89.24 89.97 90.69 91.14 91.87 89.98 88.82 90.74
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:
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
Sahbi Kasraoui Youssef Elboghdady QNB Financial Services
Acting Head of Trading Head of Institutional Sales & Trading Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6544 Tel: (+974) 4476 6542 PO Box 24025
sahbi.alkasraoui@qnbfs.com.qa youssef.elboghdady@qnbfs.com.qa Doha, Qatar
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