The Index created a Double-Bottom formation (as seen on the 30-minute chart), which is a bullish pattern.

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Daily Technical Trader – KSA
Tuesday, 27 September 2016
Today’s Coverage
Ticker Price (SAR) 1
st
Target
ALINMA 12.46 12.85
TASI All Share Index
Level % Ch. Vol. (mn)
Last 5,956.59 0.74 103.0
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,000 6,100 6,200
Support 5,900 5,870 5,700
TASI All Share Index Commentary
Overview:
The Index created a Double-Bottom
formation (as seen on the 30-minute
chart), which is a bullish pattern.
Moreover, we notice positive divergence
on the RSI and the MACD vs the
movement of the Index. That indicates a
possible bounce off the 61.8% Fibonacci
retracement (seen on the daily chart).
Expected Resistance Level: 6,000
Expected Support Level: 5,900
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 26 Sep 25 Sep %Ch.
Value (SAR bn) 2.1 2.1 0.6
Volume (mn) 115.1 122.9 -6.4
Market Breadth 116:43 43:123 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 13,004.74 1.29 40.85
Petrochem 4,426.42 0.44 46.19
Cement 3,690.51 0.61 38.27
Retail 8,806.74 0.53 31.62
Energy and Utilities 6,552.31 0.96 41.81
Agriculture and Food 7,064.90 1.53 47.63
Telecom 1,318.11 -0.30 41.47
Insurance 1,102.96 0.88 35.21
Multi-Investment 2,426.02 0.35 42.18
Industrial Invest. 5,490.26 0.02 30.70
Building and Const. 1,762.82 0.57 32.85
RE Development 5,864.21 0.29 34.82
Transportation 5,933.05 0.11 33.05
Media & Publishing 1,919.76 0.00 30.79
Hotel and Tourism 8,266.71 -0.28 37.46
RSI 14 (Overbought) From Page 3 Table
Name Close 1D% RSI
RSI 14 (Oversold) From Page 3 Table
Name Close 1D% RSI
ALANDALUS
PROPER
16.92 0.2 21.1
JABAL OMAR DEVEL 55.67 -1.0 26.7
THIMAR 25.84 0.1 27.0
SAUDI CERAMIC CO 29.92 -0.5 28.2
ASH-SHARQIYAH DE 31.79 0.4 28.7
TASI (30min)
Source: Bloomberg, QNBFS Research

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Alinma Bank
Price (SAR) % Ch. Volume
Last 12.46 0.89 29,926,529
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 12.55 12.85 13.18
Support 12.30 12.10 11.80
Commentary
Overview:
The Shari’ah compliant bank has
stabilized above the SAR12.30; it could be
creating the Triple-Bottom price
formation. That could have a bullish
effect on price movement.
Expected Target Price: SAR12.85 –
SAR13.18
A price breakout above SAR12.55 triggers
the buy recommendation.
Suggested Stop-Loss Price: SAR12.30
(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 38.44 37.81 38.00 38.12 38.31 38.50 38.62 38.81 37.71 38.83 35.60
AL ALAMIYA COOP 25.90 24.57 24.99 25.25 25.67 26.09 26.35 26.77 28.41 29.22 33.99
AL RAJHI BANK 54.52 53.17 53.75 54.10 54.67 55.25 55.60 56.17 57.13 57.92 54.93
AL TAYYAR TRAVEL 33.86 33.49 33.68 33.80 33.99 34.18 34.30 34.49 35.73 37.52 42.19
ALANDALUS PROP 16.92 16.71 16.78 16.83 16.91 16.98 17.03 17.11 19.32 19.97 N/A
ALINMA BANK 12.46 12.39 12.42 12.45 12.49 12.52 12.55 12.59 13.05 13.30 13.37
ALINMA TOKIO MAR 17.48 15.43 16.02 16.38 16.98 17.57 17.93 18.53 17.96 18.74 19.53
ASH-SHARQIYAH 31.79 31.26 31.45 31.57 31.76 31.95 32.07 32.26 36.59 38.69 40.96
BANK AL-JAZIRA 11.05 10.88 10.96 11.01 11.08 11.16 11.21 11.28 11.95 12.60 13.22
BUPA ARABIA 110.83 108.94 109.90 110.49 111.44 112.40 112.99 113.94 128.62 132.80 121.58
CO FOR COOP 85.93 84.81 85.19 85.43 85.81 86.19 86.43 86.81 91.08 90.01 81.87
DAR AL ARKAN REA 5.21 5.14 5.17 5.20 5.24 5.27 5.30 5.34 6.03 5.86 5.56
EMAAR ECONOMIC 13.07 13.02 13.04 13.05 13.07 13.09 13.10 13.12 13.83 14.07 13.48
ETIHAD ETISALAT 21.59 21.26 21.44 21.54 21.71 21.89 21.99 22.16 24.31 26.22 26.37
JABAL OMAR DEVEL 55.67 54.56 54.94 55.17 55.56 55.94 56.17 56.56 61.59 61.37 56.98
KNOWLEDGE ECON 14.25 14.15 14.19 14.21 14.25 14.29 14.31 14.35 14.38 14.27 13.62
MALATH INSURANCE 10.09 9.93 10.01 10.05 10.13 10.21 10.25 10.33 12.53 14.03 15.06
MEDITERRANEAN 18.61 17.77 18.04 18.20 18.47 18.74 18.90 19.17 20.45 21.21 21.10
MOBILE TELECOM 7.09 6.83 6.94 7.02 7.13 7.24 7.32 7.43 7.14 7.72 7.61
NATIONAL COMM 34.44 33.81 34.00 34.12 34.31 34.50 34.62 34.81 36.96 39.24 41.14
NATIONAL SHIPPING 33.14 32.98 33.06 33.10 33.18 33.26 33.30 33.38 37.43 40.02 40.09
RABIGH REFINING 10.12 10.04 10.08 10.10 10.14 10.18 10.20 10.24 11.20 11.57 11.08
SABB TAKAFUL 20.81 20.17 20.38 20.51 20.72 20.93 21.06 21.27 23.45 24.76 25.52
SABIC 82.28 81.76 81.95 82.07 82.26 82.45 82.57 82.76 83.05 82.75 78.51
SAPTCO 13.33 13.11 13.22 13.30 13.41 13.52 13.60 13.71 13.88 13.55 13.23
SASCO 14.49 14.33 14.39 14.42 14.48 14.54 14.57 14.63 15.80 16.15 16.73
SAUDI ARABIAN MI 32.20 31.33 31.75 32.01 32.43 32.85 33.11 33.53 35.39 36.92 34.02
SAUDI CERAMIC 29.92 29.71 29.82 29.89 30.01 30.12 30.19 30.31 34.66 36.85 38.67
SAUDI GROUND 43.00 42.13 42.44 42.63 42.93 43.24 43.43 43.73 45.01 47.05 44.79
SAUDI KAYAN PETR 6.07 5.99 6.03 6.05 6.09 6.13 6.15 6.19 6.73 6.64 6.13
SAUDI PAPER MAN 9.37 9.26 9.31 9.35 9.41 9.46 9.50 9.56 11.36 12.24 13.47
SAUDI PRINTING 14.50 14.30 14.40 14.45 14.55 14.65 14.70 14.80 17.35 18.88 20.23
SAUDI RESEARCH 27.30 26.97 27.12 27.21 27.37 27.52 27.61 27.77 35.21 39.40 42.06
SAUDI TELECOM CO 57.22 56.91 57.00 57.06 57.16 57.25 57.31 57.41 59.76 61.70 63.10
SAUDI TRANSPORT 49.82 49.07 49.42 49.63 49.97 50.32 50.53 50.87 59.09 56.19 56.08
SHAMS 26.90 26.03 26.34 26.53 26.83 27.14 27.33 27.63 30.77 32.99 34.65
THIMAR 25.84 25.67 25.77 25.83 25.93 26.03 26.09 26.19 30.33 31.44 32.77
TIHAMA 25.67 25.67 25.67 25.67 25.67 25.67 25.67 25.67 27.65 31.30 31.84
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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