The document provides a daily market report and analysis for Qatar. It includes: 1) A summary of the previous day's trading activity on the Qatar Stock Exchange including market indicators, indices performance, and top traded stocks. 2) Analysis of the QSE Index with commentary on expected resistance and support levels. 3) In-depth analysis of Industries Qatar (IQCD) stock including price movements, resistance/support levels, and a recommendation. 4) Tables with intraday Fibonacci support and resistance levels, daily moving averages, and stock definitions.

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Daily Technical Trader – Qatar
Wednesday, 03 August 2016
Today’s Coverage
Ticker Price Target
IQCD 104.00 101.40
QSE Index
Level % Ch. Vol. (mn)
Last 10,650.86 -0.28 2.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,900 11,000 11,200
Support 10,650 10,550 10,450
QSE Index Commentary
Overview:
The Index could face a correction;
negative divergence has been noticed on
the RSI vs the Index on the daily and the
intraday charts.
Expected Resistance Level: 10,900
Expected Support Level: 10,650
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 02 Aug 01 Aug %Ch.
Value Traded (QR mn) 171.3 212.9 -19.5
Ex. Mkt. Cap. (QR bn) 570.8 572.0 -0.2
Volume (mn) 3.8 6.0 -36.4
Number of Trans. 3,002 3,764 -20.2
Companies Traded 40 41 -2.4
Market Breadth 8:30 26:12 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 17,232.38 -0.3 69.6
All Share Index 2,942.00 -0.3 68.7
Banks 2,898.31 0.4 73.5
Industrials 3,189.85 -0.9 57.9
Transportation 2,561.84 -0.1 65.1
Real Estate 2,695.42 -0.6 66.2
Insurance 4,263.94 -1.1 52.4
Telecoms 1,188.79 -0.1 72.8
Consumer Goods 6,536.50 -1.1 50.6
Al Rayan Islamic 4,070.35 -0.7 65.6
RSI 14 (Overbought)
Ticker Close 1D% RSI
QNBK 154.50 1.3 73.7
QEWS 227.00 -0.4 72.6
ORDS 95.80 0.3 72.4
RSI 14 (Oversold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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Industries Qatar (IQCD)
Price % Ch. Volume
Last 104.00 -1.33 44,867
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 107.00 108.40 110.00
Support 104.00 101.40 100.00
Commentary
Overview:
IQCD could be testing the 200SMA
resistance level just around the QR105.00.
A price break below the current lows
creates a bearish failure swing.
Expected Price Retreat: QR101.40 –
QR100.00
A price breach below QR104.00 triggers
the sell recommendation.
(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 10,650.86 10,607.08 10,626.42 10,638.38 10,657.72 10,677.06 10,689.02 10,708.36 10,021.10 10,091.49 10,146.58
Total Return 17,232.38 17,161.54 17,192.84 17,212.18 17,243.48 17,274.78 17,294.12 17,325.42 16,213.47 16,298.62 16,099.26
All Share 2,942.00 2,930.85 2,935.87 2,938.97 2,944.00 2,949.02 2,952.12 2,957.15 2,788.94 2,804.87 2,764.20
Al Rayan Islamic 4,070.35 4,049.98 4,061.65 4,068.86 4,080.53 4,092.20 4,099.41 4,111.08 3,883.43 3,919.17 3,841.20
Banks & Financials Services
MARK 36.40 36.20 36.31 36.39 36.50 36.61 36.69 36.80 34.31 34.50 35.68
CBQK 39.45 37.95 38.48 38.82 39.35 39.88 40.22 40.75 37.35 38.62 42.13
DHBK 37.50 37.13 37.31 37.41 37.58 37.76 37.86 38.03 35.76 36.32 39.68
QIBK 109.40 107.20 107.96 108.44 109.20 109.96 110.44 111.20 98.17 99.39 102.25
QIIK 64.00 63.33 63.52 63.64 63.83 64.02 64.14 64.33 62.24 63.94 65.57
Insurance
QATI 79.00 78.33 78.72 78.95 79.33 79.72 79.95 80.33 75.43 78.48 75.56
Consumer Goods & Services
MCGS 95.10 93.30 94.10 94.60 95.40 96.20 96.70 97.50 96.90 101.71 110.32
Industrials
IQCD 104.00 102.80 103.49 103.91 104.60 105.29 105.71 106.40 100.36 102.45 104.61
QEWS 227.00 225.13 225.86 226.31 227.03 227.76 228.21 228.93 209.49 206.94 205.03
GISS 36.75 36.35 36.46 36.54 36.65 36.76 36.84 36.95 37.09 36.44 42.05
QIGD 50.80 50.27 50.57 50.76 51.07 51.37 51.56 51.87 48.61 49.52 43.11
Real Estate
BRES 35.45 35.12 35.31 35.43 35.62 35.81 35.93 36.12 33.00 33.58 36.06
UDCD 19.80 19.73 19.75 19.76 19.78 19.80 19.81 19.83 19.01 19.10 20.05
ERES 19.60 19.44 19.50 19.55 19.61 19.67 19.72 19.78 18.21 18.13 17.01
MRDS 14.10 13.99 14.04 14.07 14.12 14.17 14.20 14.25 13.63 13.88 13.46
Telecommunication
ORDS 95.80 95.00 95.31 95.49 95.80 96.11 96.29 96.60 88.96 89.39 83.16
VFQS 11.32 11.22 11.28 11.31 11.37 11.43 11.46 11.52 10.83 11.46 11.66
Transportation
QGTS 24.34 24.24 24.29 24.31 24.36 24.41 24.43 24.48 23.40 23.29 23.22
QNNS 89.10 88.57 88.72 88.81 88.97 89.12 89.21 89.37 87.21 88.95 91.63
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
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services. Co WLL One Person Company (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is
regulated by the Qatar Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given
time only. It is not an offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. QNBFS accepts no
liability whatsoever for any direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically
engaged investment advice. 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 that QNBFS believes to be reliable, we have not independently verified such information and it may not be accurate or complete. QNBFS does not make any
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and volume). QNBFS reserves the right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly
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