The Index continued with its correction last Thursday and reached its 61.8% Fibonacci retracement from its up-move that started last August. There is no sign of recovery yet. As a result, we wait and see how the market develops in the coming sessions.

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Daily Technical Trader – Qatar
Sunday, 04 September 2016
No Stocks Covered Today
QSE Index
Level % Ch. Vol. (mn)
Last 10,836.74 -1.39 8.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 11,000 11,150 11,300
Support 10,800 10,700 10,650
QSE Index Commentary
Overview:
The Index continued with its correction
last Thursday and reached its 61.8%
Fibonacci retracement from its up-move
that started last August. There is no sign
of recovery yet. As a result, we wait and
see how the market develops in the
coming sessions.
Expected Resistance Level: 11,000
Expected Support Level: 10,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QSE Summary
Market Indicators 01 Sep 31 Aug %Ch.
Value Traded (QR mn) 512.7 530.8 -3.4
Ex. Mkt. Cap. (QR bn) 580.7 588.6 -1.3
Volume (mn) 10.8 10.1 7.4
Number of Trans. 6,522 5,685 14.7
Companies Traded 42 43 -2.3
Market Breadth 4:37 5:35 –
QSE Indices
Market Indices Close 1D% RSI
Total Return 17,533.13 -1.4 44.8
All Share Index 2,982.21 -1.3 44.0
Banks 2,977.68 -1.3 48.0
Industrials 3,253.52 -1.4 43.7
Transportation 2,561.53 -1.5 43.3
Real Estate 2,598.73 -1.7 31.6
Insurance 4,554.00 -0.1 51.4
Telecoms 1,243.50 -2.0 52.3
Consumer Goods 6,450.22 -0.9 35.1
Al Rayan Islamic 4,093.37 -1.7 40.6
RSI 14 (Overbought)
Ticker Close 1D% RSI
RSI 14 (Oversold)
Ticker Close 1D% RSI
MPHC 18.18 -2.7 23.5
AKHI 23.06 -2.3 27.6
GWCS 55.10 -2.7 27.8
ERES 18.37 -2.3 29.0
QSE Index (30min)
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 10,836.74 10,495.27 10,638.43 10,726.88 10,870.05 11,013.21 11,101.66 11,244.83 10,622.89 10,267.77 10,118.46
Total Return 17,533.13 16,980.64 17,212.28 17,355.38 17,587.01 17,818.65 17,961.75 18,193.38 17,187.12 16,612.57 16,132.99
All Share 2,982.21 2,896.98 2,933.01 2,955.27 2,991.29 3,027.32 3,049.58 3,085.60 2,935.60 2,852.40 2,767.57
Al Rayan Islamic 4,093.37 3,975.23 4,027.38 4,059.61 4,111.76 4,163.91 4,196.14 4,248.29 4,064.94 3,973.09 3,831.94
Banks & Financials Services
MARK 37.10 35.90 36.47 36.83 37.40 37.97 38.33 38.90 36.36 35.05 35.24
CBQK 41.65 39.95 40.60 41.00 41.65 42.30 42.70 43.35 40.04 38.69 41.05
DHBK 37.55 35.85 36.42 36.78 37.35 37.92 38.28 38.85 37.25 36.61 38.56
QIBK 110.00 106.07 107.56 108.48 109.97 111.46 112.38 113.87 106.34 101.50 101.67
QIIK 65.40 61.87 63.13 63.91 65.17 66.43 67.21 68.47 64.44 63.34 64.71
Insurance
QATI 85.90 82.10 83.74 84.76 86.40 88.04 89.06 90.70 80.94 78.92 76.43
Consumer Goods & Services
MCGS 89.90 86.37 87.67 88.47 89.77 91.07 91.87 93.17 94.81 97.61 103.50
Industrials
IQCD 111.20 106.27 108.14 109.29 111.17 113.04 114.19 116.07 107.11 103.84 104.04
QEWS 214.50 208.03 210.75 212.42 215.13 217.85 219.52 222.23 220.93 212.84 206.77
GISS 35.25 34.45 34.81 35.04 35.40 35.76 35.99 36.35 36.57 36.38 39.25
QIGD 51.00 48.60 49.82 50.58 51.80 53.02 53.78 55.00 50.67 50.53 44.04
Real Estate
BRES 36.00 35.20 35.60 35.85 36.25 36.65 36.90 37.30 35.47 33.93 35.31
UDCD 20.85 20.08 20.35 20.52 20.78 21.05 21.22 21.48 20.06 19.42 19.73
ERES 18.37 17.48 17.86 18.10 18.49 18.87 19.11 19.50 19.17 18.50 17.11
MRDS 14.21 13.90 14.08 14.18 14.35 14.53 14.63 14.80 14.14 14.07 13.37
Telecommunication
ORDS 100.80 97.27 98.60 99.43 100.77 102.10 102.93 104.27 95.44 91.74 85.96
VFQS 11.57 11.28 11.45 11.55 11.71 11.88 11.98 12.14 11.39 11.39 11.45
Transportation
QGTS 24.72 24.00 24.26 24.42 24.68 24.94 25.10 25.36 24.11 23.63 23.23
QNNS 89.00 85.93 87.31 88.16 89.53 90.91 91.76 93.13 89.68 88.85 90.90
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
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