The Index continued its bullish move and closed above the 9,000 level while tackling the 200SMA resistance (see the daily chart). The intraday chart suggests a correction is building up as the RSI created a diversion in direction against the Index.As a result, we remain cautious in regards of buying around the current levels.

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Daily Technical Trader – Qatar
Thursday, 11 January 2018
Today’s Coverage
Ticker Price Target
QIBK 97.81 107.00
QSE Index
Level % Ch. Vol. (mn)
Last 9,048.17 0.51 8.8
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,250 9,600 9,850
Support 9,000 8,850 8,600
QSE Index Commentary
Overview:
The Index continued its bullish move and
closed above the 9,000 level while
tackling the 200SMA resistance (see the
daily chart). The intraday chart suggests
a correction is building up as the RSI
created a diversion in direction against
the Index. As a result, we remain cautious
in regards of buying around the current
levels.
Expected Resistance Level: 9,250
Expected Support Level: 9,000
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 10 Jan 09 Jan %Ch.
Value Traded (QR mn) 335.8 283.3 18.5
Ex. Mkt. Cap. (QR bn) 497.5 495.9 0.3
Volume (mn) 15.6 11.0 41.5
Number of Trans. 4,840 5,117 -5.4
Companies Traded 44 43 2.3
Market Breadth 26:16 19:23 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 15,173.24 0.5 83.5
All Share Index 2,595.80 0.4 82.6
Banks 2,809.96 -0.1 78.6
Industrials 2,779.24 1.6 79.6
Transportation 1,936.79 -0.8 80.1
Real Estate 2,039.74 0.3 74.0
Insurance 3,868.93 0.9 71.6
Telecoms 1,149.06 0.5 69.4
Consumer Goods 5,115.71 0.5 75.2
Al Rayan Islamic 3,653.43 1.1 82.2
Source: Bloomberg
RSI 14 (Overbought)
Ticker Close 1D% RSI
QGTS 18.00 0.0 86.9
UDCD 16.20 5.2 86.2
MARK 42.20 1.0 82.4
QIIK 58.90 -0.1 82.0
BRES 34.80 0.9 78.0
Source: Bloomberg
RSI 14 (Oversold)
Ticker Close 1D% RSI
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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QATAR ISLAMIC BANK (QIBK)
Price % Ch. Volume
Last 97.81 -1.69 102,499
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 99.75 107.00 114.00
Support 95.00 91.00 87.00
Commentary
Overview:
The Shari’a compliant bank has created a
7-month double bottom formation; it is a
strong bullish reversal formation.
Moreover, the price managed to move
above all its moving averages, which now
act as a support level for the name. It
should be mentioned that the price may
correct further and we suggest buying
once the correction eases out or when the
formation is confirmed with the below
condition.
Expected Target Price: QR107.00 –
QR114.00
A price breakout above QR99.75 triggers
the buy idea.
Suggested Stop-Loss Price: QR91.00
(Daily)
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 9,048.17 8,922.68 8,967.83 8,995.72 9,040.87 9,086.02 9,113.91 9,159.06 8,145.68 8,314.21 9,034.38
Total Return 15,173.24 14,962.80 15,038.52 15,085.29 15,161.01 15,236.73 15,283.50 15,359.22 13,659.82 13,942.44 15,135.66
All Share 2,595.80 2,564.37 2,575.70 2,582.71 2,594.05 2,605.38 2,612.39 2,623.73 2,291.43 2,346.33 2,556.34
Al Rayan Islamic 3,653.43 3,575.03 3,602.55 3,619.54 3,647.06 3,674.58 3,691.57 3,719.09 3,189.23 3,291.64 3,589.88
Banks & Financials Services
MARK 42.20 40.63 41.19 41.54 42.10 42.66 43.01 43.57 36.05 36.66 39.23
CBQK 28.90 28.43 28.70 28.87 29.13 29.40 29.57 29.83 27.33 28.15 29.40
DHBK 30.37 29.84 30.00 30.10 30.25 30.41 30.51 30.66 27.69 28.44 29.67
QIBK 97.81 96.52 97.26 97.72 98.46 99.20 99.66 100.40 95.21 94.18 96.04
QIIK 58.90 58.13 58.42 58.61 58.91 59.20 59.39 59.69 50.34 51.25 55.52
Insurance
QATI 59.97 57.34 58.10 58.56 59.31 60.07 60.53 61.28 45.86 51.38 60.57
Consumer Goods & Services
MCGS 75.40 73.12 74.16 74.79 75.83 76.87 77.50 78.54 61.26 65.85 77.83
Industrials
IQCD 104.01 100.94 101.93 102.54 103.54 104.53 105.14 106.14 95.02 93.65 97.90
QEWS 183.00 179.67 181.01 181.83 183.16 184.50 185.32 186.65 175.30 178.58 191.38
GISS 18.70 18.31 18.50 18.61 18.79 18.98 19.09 19.27 16.64 17.64 20.65
QIGD 40.05 37.76 38.68 39.24 40.15 41.07 41.63 42.54 30.91 34.55 44.37
Real Estate
BRES 34.80 34.17 34.43 34.58 34.83 35.09 35.24 35.49 30.01 30.74 32.30
UDCD 16.20 15.10 15.43 15.63 15.96 16.29 16.49 16.82 13.43 14.03 16.19
ERES 12.67 12.46 12.55 12.61 12.71 12.80 12.86 12.96 9.77 10.10 12.03
MRDS 8.89 8.76 8.83 8.87 8.94 9.01 9.05 9.12 7.77 8.64 10.28
Telecommunication
ORDS 96.00 95.35 95.53 95.65 95.84 96.02 96.14 96.33 86.84 86.12 92.61
VFQS 8.15 7.96 8.02 8.06 8.11 8.17 8.21 8.26 7.12 7.62 8.27
Transportation
QGTS 18.00 17.60 17.71 17.79 17.90 18.01 18.09 18.20 14.85 15.40 17.21
QNNS 59.50 57.57 58.68 59.36 60.46 61.57 62.25 63.35 51.83 54.86 62.53
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, CFA, CAIA 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 Ahmed El-Khudary Feras Al-Sarraj
Senior Research Analyst Head of Trading Head of Sales
Tel: (+974) 4476 6589 Tel: (+974) 4476 6533 Tel: (+974) 4476 6514
mohd.abodaff@qnbfs.com.qa ahmed.elkhudary@qnbfs.com.qa feras.alsarraj@qnbfs.com.qa
QNB Financial Services
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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