The document provides a daily technical analysis report on stock market activity in Qatar. It includes: 1) An overview of the Qatar Stock Exchange index showing it closed higher but remained in a ranging pattern. Resistance is seen at 10,400 and support at 10,250. 2) Analysis of specific stock QIGD showing it reached a previous sell recommendation target but remains oversold. Upside is seen at QR54-57 but it needs to break above QR52 to signal a buy. 3) Tables with stock data, index levels, support and resistance levels, and moving averages to identify trends and potential entry/exit points.

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Daily Technical Trader – Qatar
Wednesday, 20 April 2016
Today’s Coverage
Ticker Price Target
QIGD 51.00 54.00
QSE Index
Level % Ch. Vol. (mn)
Last 10,297.39 0.64 9.5
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,400 10,500 10,700
Support 10,250 10,100 10,000
QSE Index Commentary
Overview:
Even though the QSE Index closed in the
green, its movement is confined in the
ranging box. That been said, the Index is
tilted upwards on the intraday chart,
which is positive.
Expected Resistance Level: 10,400
Expected Support Level: 10,250
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 19 Apr 18 Apr %Ch.
Value Traded (QR mn) 476.3 285.5 66.8
Ex. Mkt. Cap. (QR bn) 549.4 546.5 0.5
Volume (mn) 15.5 8.6 80.2
Number of Trans. 6,944 4,660 49.0
Companies Traded 38 43 -11.6
Market Breadth 24:12 17:23 –
QE Indices
Market Indices Close 1D% RSI
Total Return 16,660.49 0.6 59.2
All Share Index 2,871.60 0.7 61.6
Banks 2,741.62 -0.4 48.3
Industrials 3,148.78 0.5 56.1
Transportation 2,566.63 0.8 63.1
Real Estate 2,634.32 3.8 68.8
Insurance 4,499.37 -1.2 51.8
Telecoms 1,168.53 0.7 61.0
Consumer Goods 6,737.44 1.3 65.5
Al Rayan Islamic 4,067.51 1.3 63.8
RSI 14 (Over Bought)
Ticker Close 1D% RSI
WDAM 66.60 9.9 76.8
QCFS 38.70 8.7 76.1
NLCS 20.01 5.9 76.1
MRDS 15.35 0.9 72.2
ERES 19.21 5.5 70.6
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QIGD
Price % Ch. Volume
Last 51.00 3.45 307,778
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 52.00 54.00 57.00
Support 50.00 49.00 46.80
Commentary
Overview:
We sent a sell recommendation on the
name on the 5
th
of this month. It reached
our first target at QR52.40 (name dropped
almost 11% from our recommended
selling price at the time). It should be
noted that we remain with that view,
unless the name breaks above the
QR52.00. That break away might start a
bounce upwards.
Expected Target Price: QR54.00 – QR57.00
Only a price breakaway above QR52.00
triggers the buy recommendation.
Suggested Stop-Loss Price: QR49.00
(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 10,297.39 10,150.13 10,192.80 10,219.17 10,261.84 10,304.51 10,330.88 10,373.55 10,129.13 9,943.45 10,731.13
Total Return 16,660.49 16,422.23 16,491.27 16,533.93 16,602.97 16,672.01 16,714.67 16,783.71 16,134.00 15,652.55 16,778.44
All Share 2,871.60 2,842.00 2,850.48 2,855.72 2,864.20 2,872.68 2,877.92 2,886.40 2,766.89 2,683.48 2,877.43
Al Rayan Islamic 4,067.51 3,989.89 4,014.38 4,029.51 4,054.00 4,078.49 4,093.62 4,118.11 3,821.24 3,692.70 4,051.21
Banks & Financials Services
MARK 34.75 34.42 34.55 34.63 34.77 34.90 34.98 35.12 35.39 35.20 39.17
CBQK 38.20 37.47 37.81 38.02 38.37 38.71 38.92 39.27 42.46 42.82 48.78
DHBK 36.60 36.30 36.43 36.52 36.65 36.78 36.87 37.00 38.57 39.94 45.32
QIBK 100.00 98.73 99.34 99.72 100.33 100.94 101.32 101.93 101.31 100.87 107.18
QIIK 64.00 N/A N/A N/A N/A N/A N/A N/A 68.31 65.72 70.71
Insurance
QATI 83.80 82.13 82.63 82.94 83.43 83.93 84.24 84.73 80.43 74.63 77.70
Consumer Goods & Services
MCGS 116.10 N/A N/A N/A N/A N/A N/A N/A 108.21 108.06 137.87
Industrials
IQCD 105.30 104.23 104.58 104.79 105.13 105.48 105.69 106.03 106.14 104.03 115.34
QEWS 208.50 206.83 207.60 208.07 208.83 209.60 210.07 210.83 200.30 200.56 207.38
GISS 35.75 35.05 35.32 35.48 35.75 36.02 36.18 36.45 35.55 41.02 53.02
QIGD 51.00 48.60 49.63 50.27 51.30 52.33 52.97 54.00 43.18 38.22 42.63
Real Estate
BRES 34.30 33.83 33.99 34.08 34.23 34.39 34.48 34.63 35.90 36.24 40.89
UDCD 19.00 18.71 18.88 18.98 19.14 19.31 19.41 19.57 20.23 19.87 21.96
ERES 19.21 17.55 18.04 18.35 18.84 19.33 19.64 20.13 16.73 15.79 17.03
MRDS 15.35 14.92 15.11 15.23 15.42 15.61 15.73 15.92 12.85 12.72 14.32
Telecommunication
ORDS 91.00 90.07 90.37 90.56 90.87 91.17 91.36 91.67 88.72 81.26 78.79
VFQS 12.58 12.24 12.37 12.45 12.58 12.71 12.79 12.92 11.67 11.52 12.97
Transportation
QGTS 23.40 22.99 23.13 23.22 23.35 23.49 23.58 23.71 23.29 22.75 22.85
QNNS 91.90 90.03 90.57 90.90 91.43 91.97 92.30 92.83 92.99 92.55 95.03
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
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the Qatar
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We therefore strongly advise potential investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from sources
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different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume). QNBFS reserves the right to
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