The Index closed flat last Monday but looks fairly bullish on the intraday chart as it bounced off an intra-day support level and it is moving above the 50SMA on the daily chart.

1. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 5
Daily Technical Trader – Qatar
Wednesday, 15 February 2017
Today’s Coverage
Ticker Price Target
MARK 41.00 42.50
QSE Index
Level % Ch. Vol. (mn)
Last 10,670.51 0.07 5.7
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 10,680 10,900 11,000
Support 10,500 10,400 10,300
QSE Index Commentary
Overview:
The Index closed flat last Monday but
looks fairly bullish on the intraday chart
as it bounced off an intra-day support
level and it is moving above the 50SMA
on the daily chart.
Expected Resistance Level: 10,680
Expected Support Level: 10,500
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 13 Feb 12 Feb %Ch.
Value Traded (QR mn) 237.4 186.4 27.3
Ex. Mkt. Cap. (QR bn) 571.7 571.7 0.0
Volume (mn) 7.8 5.8 34.5
Number of Trans. 3,448 2,750 25.4
Companies Traded 40 39 2.6
Market Breadth 20:16 24:14 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 17,321.29 0.1 52.3
All Share Index 2,933.58 0.0 51.6
Banks 2,999.14 -0.4 52.0
Industrials 3,282.31 0.4 43.4
Transportation 2,625.53 0.5 67.2
Real Estate 2,338.06 0.7 53.5
Insurance 4,371.55 0.5 45.8
Telecoms 1,247.56 -1.1 53.1
Consumer Goods 6,202.11 -0.5 51.6
Al Rayan Islamic 4,033.07 0.2 58.0
RSI 14 (Overbought)
Ticker Close 1D% RSI
BRES 38.80 0.8 74.1
RSI 14 (Oversold)
Ticker Close 1D% RSI
GISS 27.50 -0.5 26.3
QCFS 27.50 -2.1 27.7
MPHC 15.22 -0.4 30.0
QSE Index (30min)
Source: Bloomberg, QNBFS Research

2. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 2 of 5
MASRAF AL RAYAN (MARK)
Price % Ch. Volume
Last 41.00 -0.73 462,119
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 41.35 42.50 43.35
Support 40.00 39.50 38.70
Commentary
Overview:
We sent a buy recommendation on the
name on the 5
th
of this month; price
reached our first expected target at
QR41.80, and now it pulled back. The
current correction could be a good place to
go long on the name.
Expected Target Price: QR42.50 – QR43.35
A price breakout above QR41.35 triggers
the buy recommendation.
Suggested Stop-Loss Price: QR40.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research

3. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 3 of 5
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 10,670.51 10,581.98 10,609.06 10,625.79 10,652.87 10,679.95 10,696.68 10,723.76 10,555.79 10,347.89 10,320.63
Total Return 17,321.29 17,177.58 17,221.54 17,248.70 17,292.66 17,336.62 17,363.78 17,407.74 17,084.26 16,745.04 16,699.52
All Share 2,933.58 2,911.07 2,918.33 2,922.82 2,930.07 2,937.33 2,941.82 2,949.07 2,897.62 2,847.82 2,851.98
Al Rayan Islamic 4,033.07 3,989.50 4,001.98 4,009.69 4,022.18 4,034.66 4,042.37 4,054.86 3,935.55 3,851.39 3,908.41
Banks & Financials Services
MARK 41.00 40.30 40.53 40.67 40.90 41.13 41.27 41.50 38.73 36.60 35.87
CBQK 32.25 31.85 31.96 32.04 32.15 32.26 32.34 32.45 32.46 33.71 35.49
DHBK 37.95 37.72 37.83 37.90 38.02 38.13 38.20 38.32 35.99 35.92 36.27
QIBK 107.30 105.77 106.53 107.00 107.77 108.53 109.00 109.77 105.23 104.02 102.95
QIIK 67.90 67.57 67.68 67.75 67.87 67.98 68.05 68.17 64.88 63.90 63.62
Insurance
QATI 85.00 83.67 84.05 84.28 84.67 85.05 85.28 85.67 85.99 85.84 82.60
Consumer Goods & Services
MCGS 67.50 65.17 65.85 66.28 66.97 67.65 68.08 68.77 65.42 69.21 82.27
Industrials
IQCD 115.60 110.80 112.18 113.02 114.40 115.78 116.62 118.00 116.16 110.35 107.11
QEWS 223.00 219.60 220.75 221.45 222.60 223.75 224.45 225.60 228.24 219.53 216.46
GISS 27.50 27.07 27.30 27.44 27.67 27.90 28.04 28.27 30.80 31.45 33.87
QIGD 54.50 53.17 53.59 53.85 54.27 54.69 54.95 55.37 57.09 55.28 52.77
Real Estate
BRES 38.80 38.13 38.32 38.44 38.63 38.82 38.94 39.13 34.23 33.10 33.56
UDCD 21.29 20.72 20.88 20.98 21.15 21.31 21.41 21.58 21.21 20.31 19.91
ERES 15.19 14.95 15.02 15.06 15.13 15.20 15.24 15.31 15.53 15.82 17.11
MRDS 14.25 13.88 14.00 14.08 14.21 14.33 14.41 14.54 14.29 13.60 13.78
Telecommunication
ORDS 106.40 105.87 106.17 106.36 106.67 106.97 107.16 107.47 103.22 98.97 95.76
VFQS 9.19 9.06 9.10 9.13 9.16 9.20 9.23 9.26 9.47 9.89 10.57
Transportation
QGTS 24.35 24.02 24.11 24.17 24.27 24.36 24.42 24.52 23.67 23.36 23.50
QNNS 96.00 95.87 95.90 95.93 95.97 96.00 96.03 96.07 92.96 89.92 89.27
Source: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price

4. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 4 of 5
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.

5. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 5 of 5
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
Mohamed Abo Daff Sahbi Kasraoui Youssef Elboghdady
Senior Research Analyst Acting Head of Trading Head of Institutional Sales & Trading
Tel: (+974) 4476 6589 Tel: (+974) 4476 6544 Tel: (+974) 4476 6542
Mohd.abodaff@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa youssef.elboghdady@qnbfs.com.qa
QNB Financial Services
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“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 representations or warranties as to the
accuracy and completeness of the information it may contain, and declines any liability in that respect. For reports dealing with Technical Analysis, expressed opinions and/or recommendations may be
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
amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the views and
opinions included in this report. This report may not be reproduced in whole or in part without permission from QNBFS.