Qatar stock exchange

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Daily Technical Trader – Qatar
Thursday, 14 January 2016
Stocks Covered Today
Ticker Price 1
st
Target
IHGS 66.80 64.20
QSE Index
Level % Ch. Vol. (mn)
Last 9,405.38 -0.76 3.6
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 9,500 9,600 9,700
Support 9,300 9,200 9,000
QSE Index Commentary
Overview:
The QSE Index could not bounce off the
9,500 as the major tide was in control for
another session. We expected further
weakness on the Index; any potential
bounce can be treated as an exit at this
point.
Expected Resistance Level: 9,500
Expected Support Level: 9,300
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 13 Jan 12 Jan %Ch.
Value Traded (QR mn) 212.8 179.4 18.6
Ex. Mkt. Cap. (QR bn) 500.4 504.8 -0.9
Volume (mn) 5.6 4.2 32.5
Number of Trans. 3,223 2,753 17.1
Companies Traded 38 37 2.7
Market Breadth 10:26 5:31 –
QE Indices
Market Indices Close 1D% RSI
Total Return 14,619.31 -0.8 26.3
All Share Index 2,509.14 -0.9 25.5
Banks and Financials 2,491.85 -2.1 25.7
Industrials 2,878.59 -0.6 33.0
Transportation 2,266.31 -0.3 27.2
Real Estate 2,112.78 1.0 31.9
Insurance 3,831.10 -0.2 36.6
Telecoms 939.48 -0.6 46.6
Consumer 5,328.75 -1.4 20.9
Al Rayan Islamic 3,456.56 -0.7 25.6
RSI 14 (Over Bought)
Ticker Close 1D% RSI
RSI 14 (Over Sold)
Ticker Close 1D% RSI
QCFS 30.60 0.0 0.1
QIBK 90.50 -3.7 15.6
MCGS 94.80 -5.6 21.7
NLCS 12.60 -3.1 22.2
DHBK 39.60 -0.1 23.4
QSE Index (30min)
Source: Bloomberg, QNBFS Research

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IHGS
Price % Ch. Volume
Last 66.80 -3.19 80,450
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 68.50 75.00 77.50
Support 66.80 64.20 60.00
Commentary
Overview:
IHGS retreated as expected and the price
gap was also filled as expected. The
name remains in a downtrend and it is
expected to continue. The MACD, which is
a momentum indicator, supports the
bearish scenario.
Expected Price Retreat: QR64.20 –
QR60.00
A price breach below QR66.80 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 9,405.38 9,337.05 9,376.20 9,400.39 9,439.55 9,478.70 9,502.89 9,542.05 10,368.12 10,938.88 11,470.32
Total Return 14,619.31 14,513.10 14,573.96 14,611.56 14,672.42 14,733.28 14,770.88 14,831.74 16,115.76 17,002.91 17,827.60
All Share 2,509.14 2,488.49 2,500.32 2,507.63 2,519.47 2,531.30 2,538.61 2,550.45 2,764.33 2,913.27 3,060.49
Al Rayan Islamic 3,456.56 3,398.45 3,423.06 3,438.26 3,462.87 3,487.48 3,502.68 3,527.29 3,857.73 4,118.22 4,361.31
Banks & Financials Services
MARK 33.55 32.72 33.18 33.46 33.92 34.38 34.66 35.12 37.42 40.22 43.30
CBQK 41.00 40.53 40.76 40.90 41.13 41.36 41.50 41.73 46.76 51.16 53.50
DHBK 39.60 38.60 39.06 39.34 39.80 40.26 40.54 41.00 44.94 47.69 50.51
QIBK 90.50 88.43 89.62 90.35 91.53 92.72 93.45 94.63 110.81 113.06 109.42
QIIK 59.40 58.40 58.82 59.08 59.50 59.92 60.18 60.60 66.66 70.89 75.18
Insurance
QATI 76.80 75.93 76.32 76.55 76.93 77.32 77.55 77.93 84.61 89.66 90.97
Consumer Goods & Services
MCGS 94.80 90.27 92.18 93.36 95.27 97.18 98.36 100.27 128.03 147.17 160.55
Industrials
IQCD 100.00 98.67 99.24 99.59 100.17 100.74 101.09 101.67 107.06 116.40 127.89
QEWS 200.00 196.93 198.69 199.78 201.53 203.29 204.38 206.13 208.51 209.98 211.93
GISS 44.00 42.07 42.79 43.24 43.97 44.69 45.14 45.87 52.05 57.59 68.93
QIGD 31.90 30.63 31.21 31.56 32.13 32.71 33.06 33.63 38.17 42.31 46.07
Real Estate
BRES 35.00 33.93 34.33 34.58 34.98 35.38 35.63 36.03 40.22 42.07 45.94
UDCD 19.78 19.73 19.76 19.78 19.80 19.83 19.85 19.87 21.09 22.45 23.05
ERES 14.46 14.04 14.20 14.31 14.47 14.63 14.74 14.90 16.23 17.53 17.60
MRDS 12.80 12.64 12.71 12.76 12.83 12.90 12.95 13.02 14.65 15.40 16.95
Telecommunication
ORDS 72.90 72.17 72.47 72.66 72.97 73.27 73.46 73.77 72.31 73.14 82.01
VFQS 11.42 11.19 11.32 11.40 11.53 11.66 11.74 11.87 12.16 13.10 14.90
Transportation
QGTS 21.50 21.13 21.24 21.31 21.41 21.52 21.59 21.69 23.57 23.25 22.81
QNNS 90.00 88.67 89.43 89.90 90.67 91.43 91.90 92.67 95.66 96.42 97.41
Sources: 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 6535
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
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