The Index retreated slightly but showing a bearish setup on the intraday. That been said, we see the short-term uptrend could have more influence than the vs the intraday jitters once the 6,700 is broken upwards.

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Daily Technical Trader – KSA
Wednesday, 11 May 2016
Today’s coverage
Ticker Price (SAR) 1
st
Target
SPM 15.06 16.00
TASI All Share Index
Level % Ch. Vol. (mn)
Last 6,644.82 -0.73 285.5
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,700 6,850 7,000
Support 6,550 6,450 6,350
TASI All Share Index Commentary
Overview:
The Index retreated slightly but showing
a bearish setup on the intraday. That been
said, we see the short-term uptrend could
have more influence than the vs the
intraday jitters once the 6,700 is broken
upwards.
Expected Resistance Level: 6,700
Expected Support Level: 6,550
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 10 May 09 May %Ch.
Value (SAR bn) 5.9 5.6 5.0
Mkt. Cap. (SAR bn) 1,528.9 1,538.5 -0.6
Volume (mn) 312.7 308.5 1.3
Transactions 137,579 132,760 3.6
Companies Traded 168 168 0.0
Market Breadth 38:128 115:48 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 14,955.20 -0.53 53.65
Petrochem 4,458.56 -1.20 57.90
Cement 4,374.52 -0.73 44.28
Retail 10,075.87 -1.10 49.39
Energy and Utilities 6,196.25 0.30 65.38
Agriculture and Food 7,698.42 -0.86 39.08
Telecom 1,567.43 -0.74 47.71
Insurance 1,320.71 -0.35 71.65
Multi-Investment 2,836.11 -1.25 45.88
Industrial Invest. 6,593.01 -0.59 69.14
Building and Const. 2,116.02 -0.90 56.57
RE Development 6,082.62 -0.90 47.25
Transportation 7,341.95 -0.79 53.50
Media & Publishing 3,054.43 8.77 69.54
Hotel and Tourism 10,748.10 -1.35 61.23
RSI 14 (Over Bought) From Page 3 Table
Name Close 1D% RSI
SAUDI RESEARCH 45.10 10.0 71.2
SAUDI PRINTING 22.55 9.8 70.2
RSI 14 (Over Sold) From Page 3 Table
Name Close 1D% RSI
TASI (30min)
Source: Bloomberg, QNBFS Research

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Saudi Paper Manufacturing (SPM)
Price (SAR) % Ch. Volume
Last 15.06 4.15 10,778,255
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 15.45 16.00 17.50
Support 13.70 12.80 12.30
Commentary
Overview:
The price has been correcting upwards
and it may reach the upper boundaries of
the medium-term downtrend channel. If a
correction takes place (seeing a Doji
candle on the hourly chart) then a trader
may accumulate on the name even if it
dips all the way to SAR13.70 (the short-
term trend remains up). If a trader is
waiting for a breakout, then we suggest
keeping an eye on the SAR15.20 and see if
it breaches upwards with higher volumes.
Overall, we expect more bullish
momentum in the short term.
Expected Price Target: SAR16.00 –
SAR17.50
A price breakout above SAR15.20 triggers
the buy recommendation.
Suggested Stop-Loss Price: SAR13.70
(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 47.94 47.45 47.68 47.82 48.05 48.28 48.42 48.65 42.46 39.21 42.91
AL ALAMIYA COOP 32.81 31.94 32.36 32.62 33.04 33.46 33.72 34.14 31.56 35.48 46.92
AL RAJHI BANK 59.27 58.09 58.57 58.86 59.34 59.82 60.11 60.59 55.34 53.11 53.80
AL TAYYAR TRAVEL 41.64 40.41 40.91 41.22 41.71 42.21 42.52 43.01 37.56 43.60 59.82
ALANDALUS PROP 21.55 20.38 20.77 21.00 21.38 21.77 22.00 22.38 21.47 N/A N/A
ALINMA BANK 13.96 13.82 13.88 13.91 13.97 14.03 14.06 14.12 13.49 13.43 15.17
ALINMA TOKIO MAR 20.55 20.12 20.35 20.49 20.72 20.95 21.09 21.32 20.59 19.94 20.12
ASH-SHARQIYAH 42.71 41.50 42.04 42.37 42.90 43.44 43.77 44.30 41.82 41.64 51.26
BANK AL-JAZIRA 13.66 13.55 13.61 13.65 13.70 13.76 13.80 13.85 13.79 13.57 16.81
BUPA ARABIA 135.03 133.68 134.25 134.60 135.18 135.75 136.10 136.68 118.49 113.42 115.85
CO FOR COOP 86.46 85.65 86.04 86.27 86.65 87.04 87.27 87.65 79.16 74.96 80.29
DAR AL ARKAN REA 5.63 5.51 5.57 5.60 5.66 5.72 5.75 5.81 5.22 5.22 6.02
EMAAR ECONOMIC 14.26 13.99 14.12 14.20 14.34 14.47 14.55 14.69 13.96 13.20 12.03
ETIHAD ETISALAT 28.67 28.29 28.44 28.54 28.69 28.84 28.94 29.09 29.03 26.52 27.50
JABAL OMAR DEVEL 59.89 58.80 59.27 59.57 60.05 60.52 60.82 61.30 58.87 53.66 57.59
KNOWLEDGE ECON 13.83 13.61 13.72 13.80 13.91 14.02 14.10 14.21 13.66 12.89 15.22
MALATH INSURANCE 16.72 16.34 16.49 16.59 16.74 16.89 16.99 17.14 15.56 15.68 19.36
MEDITERRANEAN 23.83 22.84 23.23 23.46 23.84 24.23 24.46 24.84 22.09 20.95 24.06
MOBILE TELECOM 8.90 8.87 8.89 8.90 8.92 8.94 8.95 8.97 8.47 7.55 8.52
NATIONAL COMM 42.65 42.08 42.35 42.52 42.78 43.05 43.22 43.48 41.91 42.12 48.35
NATIONAL SHIPPING 44.04 43.61 43.80 43.92 44.11 44.30 44.42 44.61 42.04 40.04 40.17
RABIGH REFINING 11.95 11.82 11.87 11.91 11.97 12.02 12.06 12.12 11.27 10.52 13.45
SABB TAKAFUL 27.15 26.78 26.97 27.09 27.28 27.47 27.59 27.78 26.34 25.57 32.18
SABIC 83.22 82.24 82.62 82.86 83.24 83.62 83.86 84.24 78.19 74.05 79.35
SAPTCO 13.05 12.82 12.93 13.00 13.12 13.23 13.30 13.42 12.44 12.34 16.18
SASCO 17.44 16.98 17.17 17.29 17.48 17.67 17.79 17.98 16.90 16.72 20.20
SAUDI ARABIAN MI 37.98 37.53 37.68 37.77 37.93 38.08 38.17 38.33 31.95 31.40 32.04
SAUDI CERAMIC 39.72 38.91 39.25 39.46 39.81 40.15 40.36 40.71 39.82 39.45 49.47
SAUDI GROUND 49.54 48.78 49.01 49.15 49.38 49.61 49.75 49.98 44.79 42.77 51.28
SAUDI KAYAN PETR 6.76 6.69 6.72 6.75 6.79 6.82 6.85 6.89 5.61 5.52 7.10
SAUDI PAPER MAN 15.06 14.05 14.42 14.64 15.00 15.37 15.59 15.95 13.97 14.08 16.08
SAUDI PRINTING 22.55 19.48 20.36 20.90 21.78 22.66 23.20 24.08 21.00 21.09 19.70
SAUDI RESEARCH 45.10 39.37 41.01 42.02 43.67 45.31 46.32 47.97 41.29 43.61 33.26
SAUDI TELECOM CO 63.40 62.97 63.16 63.28 63.47 63.66 63.78 63.97 64.44 64.14 64.20
SAUDI TRANSPORT 51.99 50.83 51.40 51.76 52.33 52.90 53.26 53.83 51.85 54.02 57.27
SHAMS 36.88 36.16 36.54 36.78 37.16 37.54 37.78 38.16 36.84 36.84 36.46
THIMAR 34.34 32.85 33.46 33.84 34.45 35.06 35.44 36.05 33.30 33.55 39.81
TIHAMA 38.71 35.04 36.37 37.20 38.54 39.87 40.70 42.04 37.14 33.28 39.11
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
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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