The Index moved up and created a bullish engulfing candlestick on the daily chart. In addition, we see positive divergence on the MACD and the RSI against the price movement on the intraday chart. That suggests a possible correction upwards against the downtrend on the short term.

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Daily Technical Trader – KSA
Wednesday, 01 June 2016
Today’s Coverage
Ticker Price (SAR) 1
st
Target
RESEARCH 44.36 47.00
TASI All Share Index
Level % Ch. Vol. (mn)
Last 6,448.42 1.39 134.6
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,450 6,550 6,700
Support 6,300 6,100 6,000
TASI All Share Index Commentary
Overview:
The Index moved up and created a bullish
engulfing candlestick on the daily chart.
In addition, we see positive divergence on
the MACD and the RSI against the price
movement on the intraday chart. That
suggests a possible correction upwards
against the downtrend on the short term.
Expected Resistance Level: 6,450
Expected Support Level: 6,300
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 31 May 30 May %Ch.
Value (SAR bn) 3.2 3.4 -6.7
Volume (mn) 158.4 188.2 -15.9
Mkt. Cap. (SAR bn) 1,480.0 1,460.4 1.3
Market Breadth 157:11 18:149 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 14,312.02 0.65 38.13
Petrochem 4,452.51 2.62 52.15
Cement 4,307.89 0.44 41.04
Retail 10,278.03 0.47 51.84
Energy and Utilities 5,862.00 1.17 42.33
Agriculture and Food 7,648.42 1.82 45.56
Telecom 1,510.83 0.45 36.24
Insurance 1,243.66 0.69 45.57
Multi-Investment 2,687.34 0.30 35.43
Industrial Invest. 6,474.17 2.46 49.37
Building and Const. 1,989.79 2.18 39.81
RE Development 5,789.78 2.38 40.23
Transportation 6,988.67 3.21 40.77
Media & Publishing 2,864.95 1.87 45.52
Hotel and Tourism 9,799.55 1.86 37.81
RSI 14 (Over Bought) From Page 3 Table
Name Close 1D% RSI
RSI 14 (Over Sold) From Page 3 Table
Name Close 1D% RSI
MOBILE TELECOM 7.54 1.3 25.5
AL ALAMIYA COOPE 27.43 -0.6 27.9
TASI (30min)
Source: Bloomberg, QNBFS Research

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Saudi Research and Marketing (RESEARCH)
Price (SAR) % Ch. Volume
Last 44.36 1.12 1,480,178
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 45.60 47.00 47.80
Support 43.00 42.30 39.30
Commentary
Overview:
The name has stabilized above an
important support (SAR43.00). There has
been an uptick in price and volumes in the
previous session. That could continue if
the price succeeds in breaking above the
first expected resistance level mentioned
in the above table.
Expected Target Price: SAR47.00 –
SAR47.80
A price breakout above SAR45.60 triggers
the buy recommendation.
Suggested Stop-Loss Price: SAR43.00
(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 48.74 46.98 47.51 47.85 48.38 48.91 49.25 49.78 45.04 40.99 42.85
AL ALAMIYA COOP 27.43 26.54 26.89 27.10 27.44 27.79 28.00 28.34 31.41 31.33 44.34
AL RAJHI BANK 58.35 57.95 58.14 58.26 58.45 58.64 58.76 58.95 57.04 54.15 53.44
AL TAYYAR TRAVEL 37.65 36.35 36.77 37.03 37.45 37.87 38.13 38.55 38.45 39.48 55.62
ALANDALUS PROP 20.02 19.64 19.75 19.83 19.94 20.05 20.13 20.24 20.97 20.73 N/A
ALINMA BANK 13.16 12.89 12.98 13.04 13.14 13.23 13.29 13.39 13.50 13.32 14.59
ALINMA TOKIO MAR 18.65 18.22 18.37 18.46 18.62 18.77 18.86 19.02 20.17 19.48 19.77
ASH-SHARQIYAH 39.45 38.35 38.69 38.91 39.25 39.59 39.81 40.15 41.59 39.96 48.71
BANK AL-JAZIRA 12.70 12.47 12.54 12.59 12.67 12.74 12.79 12.87 13.62 13.24 15.92
BUPA ARABIA 139.69 137.23 138.19 138.78 139.73 140.69 141.28 142.23 126.17 117.81 116.30
CO FOR COOP 85.22 84.07 84.46 84.69 85.07 85.46 85.69 86.07 83.02 77.21 79.20
DAR AL ARKAN REA 4.99 4.86 4.90 4.93 4.96 5.00 5.03 5.06 5.35 5.11 5.80
EMAAR ECONOMIC 13.65 13.45 13.51 13.54 13.60 13.66 13.69 13.75 14.11 13.44 12.16
ETIHAD ETISALAT 27.30 26.83 26.99 27.08 27.23 27.39 27.48 27.63 29.41 26.64 27.37
JABAL OMAR DEVEL 56.95 54.32 55.08 55.55 56.32 57.08 57.55 58.32 59.28 54.55 56.55
KNOWLEDGE ECON 13.30 13.00 13.10 13.15 13.25 13.35 13.40 13.50 14.01 12.78 14.50
MALATH INSURANCE 14.52 14.17 14.29 14.36 14.47 14.59 14.66 14.77 15.69 14.95 18.26
MEDITERRANEAN 20.27 19.82 19.98 20.07 20.22 20.38 20.47 20.62 22.57 20.42 23.17
MOBILE TELECOM 7.54 7.41 7.45 7.48 7.51 7.55 7.58 7.61 8.76 7.58 8.29
NATIONAL COMM 40.82 39.34 39.80 40.08 40.54 41.00 41.28 41.74 41.89 41.05 46.88
NATIONAL SHIPPING 40.98 39.46 39.92 40.20 40.66 41.12 41.40 41.86 43.46 39.87 40.25
RABIGH REFINING 11.73 11.54 11.60 11.64 11.69 11.75 11.79 11.84 11.67 10.58 12.75
SABB TAKAFUL 24.32 23.81 23.98 24.08 24.26 24.43 24.53 24.71 26.48 24.91 30.96
SABIC 81.66 79.55 80.22 80.63 81.30 81.97 82.38 83.05 80.00 75.13 78.62
SAPTCO 11.99 11.56 11.70 11.78 11.91 12.05 12.13 12.26 12.63 11.90 15.35
SASCO 15.75 15.18 15.39 15.52 15.73 15.94 16.07 16.28 16.77 16.05 19.27
SAUDI ARABIAN MI 38.30 36.23 36.84 37.22 37.83 38.44 38.82 39.43 34.50 32.44 32.07
SAUDI CERAMIC 37.52 37.04 37.19 37.29 37.44 37.59 37.69 37.84 39.96 38.54 46.78
SAUDI GROUND 48.35 45.98 46.71 47.16 47.88 48.61 49.06 49.78 46.54 43.76 49.85
SAUDI KAYAN PETR 6.30 6.00 6.10 6.15 6.25 6.35 6.40 6.50 6.03 5.51 6.84
SAUDI PAPER MAN 12.37 11.99 12.12 12.21 12.34 12.47 12.56 12.69 13.70 13.48 15.53
SAUDI PRINTING 20.02 18.84 19.32 19.61 20.09 20.57 20.86 21.34 20.86 20.50 19.99
SAUDI RESEARCH 44.36 42.39 43.19 43.68 44.49 45.29 45.78 46.59 42.79 42.36 35.55
SAUDI TELECOM CO 62.73 62.41 62.51 62.56 62.66 62.76 62.81 62.91 62.99 63.74 63.92
SAUDI TRANSPORT 53.15 51.72 52.29 52.64 53.22 53.79 54.14 54.72 52.43 52.38 56.29
SHAMS 34.19 33.66 33.82 33.91 34.06 34.22 34.31 34.46 36.23 35.97 35.95
THIMAR 31.82 31.27 31.46 31.58 31.77 31.96 32.08 32.27 32.89 32.68 36.59
TIHAMA 34.13 33.11 33.49 33.73 34.11 34.49 34.73 35.11 36.59 34.29 35.05
Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given 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
Sahbi Kasraoui Youssef Elboghdady QNB Financial Service
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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