The Index gained more ground and now is at the 100SMA. We reiterate that the current level could have some resistance around it. Otherwise, we might actually see the 6,700 soon.

1. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 5
Daily Technical Trader – KSA
Monday, 21 March 2016
Stock Covered Today
Ticker Price (SAR) 1
st
Target
ALINMA 13.80 14.15
TASI All Share Index
Level % Ch. Vol. (mn)
Last 6,482.35 1.37 335.5
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 6,700 7,000 7,100
Support 6,420 6,260 6,170
TASI All Share Index Commentary
Overview:
The Index gained more ground and now is
at the 100SMA. We reiterate that the
current level could have some resistance
around it. Otherwise, we might actually
see the 6,700 soon.
Expected Resistance Level: 6,700
Expected Support Level: 6,420
TASI (Daily)
Source: Bloomberg, QNBFS Research
TASI Summary
Market Indicators 20 Mar 17 Mar %Ch.
Value (SAR bn) 6.3 6.4 -2.9
Mkt. Cap. (SAR bn) 1,490.6 1,473.2 1.2
Volume (mn) 368.6 347.6 6.0
Transactions 139,371 137,171 1.6
Companies Traded 167 167 0.0
Market Breadth 146:20 127:37 –
Saudi Equity Indices
Market Indices Close 1D% RSI
Banking 14,618.09 1.29 60.11
Petrochem 4,174.08 0.72 63.69
Cement 4,500.98 0.65 61.91
Retail 10,155.38 1.00 53.18
Energy and Utilities 5,857.39 -0.26 69.98
Agriculture and Food 7,917.43 0.58 58.62
Telecom 1,671.83 2.59 82.76
Insurance 1,137.85 0.48 63.25
Multi-Investment 2,853.22 0.90 65.54
Industrial Invest. 5,781.17 0.75 57.00
Building and Const. 1,993.66 1.41 62.46
RE Development 6,155.32 4.26 81.52
Transportation 6,920.70 1.03 68.58
Media & Publishing 3,052.61 2.03 60.53
Hotel and Tourism 9,796.92 1.57 46.09
RSI 14 (Over Bought) From Page 3 Table
Name Close 1D% RSI
JABAL OMAR DEVEL 63.19 6.6 89.5
MOBILE TELECOM 8.70 9.4 86.7
ETIHAD ETISALAT 29.98 5.0 82.2
SAUDI TELECOM CO 69.50 0.7 76.5
RABIGH REFINING 11.58 2.5 73.2
RSI 14 (Over Sold) From Page 3 Table
Name Close 1D% RSI
TASI (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
ALINMA
Price (SAR) % Ch. Volume
Last 13.80 2.15 53,549,711
Resistance/Support
Levels (SAR) 1
st
2
nd
3
rd
Resistance 13.85 14.15 14.70
Support 13.20 12.40 11.80
Commentary
Overview:
We published a buy recommendation on
the first of this month; it reached the first
target of SAR13.65 (an upside of 2.6%
from trigger price). If you happened to
have kept it, well, great. A breach above
the current levels might propel the name
even higher. We update our expected
targets below.
Expected Price Target: SAR14.15 –
SAR14.70
A price breakaway above SAR13.85
triggers the buy recommendation.
Suggested Stop-Loss Price: SAR13.20
(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 Sup/Res Levels for the Most Active in Traded Value 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
ADVANCED PETROCH 41.99 41.13 41.47 41.69 42.03 42.37 42.59 42.93 36.69 40.16 45.49
AL ALAMIYA COOPE 31.16 30.45 30.80 31.01 31.35 31.70 31.91 32.25 32.09 45.55 51.65
AL RAJHI BANK 53.75 53.25 53.54 53.71 54.00 54.29 54.46 54.75 51.10 50.92 55.23
AL TAYYAR TRAVEL 37.12 36.24 36.58 36.80 37.14 37.48 37.70 38.04 41.26 54.81 71.62
ALANDALUS PROPER 23.42 22.54 22.96 23.22 23.64 24.06 24.32 24.74 N/A N/A N/A
ALINMA BANK 13.80 13.50 13.60 13.65 13.75 13.85 13.90 14.00 13.12 13.73 16.97
ALINMA TOKIO MAR 22.78 21.89 22.20 22.39 22.69 23.00 23.19 23.49 18.73 20.36 21.58
ASH-SHARQIYAH DE 42.98 41.86 42.20 42.42 42.76 43.10 43.32 43.66 38.26 47.98 58.75
BANK AL-JAZIRA 14.11 13.80 13.90 13.96 14.05 14.15 14.21 14.30 12.81 14.78 19.60
BUPA ARABIA 112.49 111.16 111.64 111.94 112.41 112.89 113.19 113.66 109.11 108.71 116.34
CO FOR COOPERATI 75.96 74.65 75.23 75.58 76.15 76.73 77.08 77.65 70.90 73.83 82.87
DAR AL ARKAN REA 5.10 4.90 4.98 5.02 5.10 5.18 5.22 5.30 4.90 5.54 6.70
EMAAR ECONOMIC C 13.48 13.29 13.37 13.42 13.49 13.57 13.62 13.69 12.70 11.78 12.27
ETIHAD ETISALAT 29.98 27.99 28.68 29.11 29.79 30.48 30.91 31.59 23.70 26.34 28.23
JABAL OMAR DEVEL 63.19 57.73 59.45 60.51 62.23 63.95 65.01 66.73 49.17 52.51 60.35
KNOWLEDGE ECON 13.30 12.87 13.02 13.11 13.27 13.42 13.51 13.67 11.54 13.37 17.62
MALATH INSURANCE 15.82 15.44 15.57 15.66 15.79 15.92 16.01 16.14 14.33 17.62 22.77
MEDITERRANEAN & 21.58 21.06 21.33 21.49 21.76 22.03 22.19 22.46 18.41 22.00 28.33
MOBILE TELECOMMU 8.70 7.83 8.08 8.24 8.48 8.73 8.89 9.13 6.35 7.51 9.00
NATIONAL COMM 42.70 41.23 41.77 42.10 42.63 43.17 43.50 44.03 40.28 45.87 52.64
NATIONAL SHIPPIN 41.92 41.04 41.31 41.47 41.74 42.01 42.17 42.44 37.57 41.40 42.96
RABIGH REFINING 11.58 11.23 11.34 11.41 11.53 11.64 11.71 11.83 9.45 11.44 15.48
SABB TAKAFUL 26.77 26.12 26.39 26.56 26.82 27.09 27.26 27.52 23.35 29.25 35.69
SABIC 77.69 76.73 77.11 77.35 77.73 78.11 78.35 78.73 69.88 76.47 83.25
SAPTCO 12.94 12.68 12.78 12.83 12.93 13.03 13.08 13.18 11.16 14.82 19.01
SASCO 17.96 17.69 17.78 17.84 17.94 18.03 18.09 18.19 15.34 19.30 22.95
SAUDI ARABIAN MI 30.95 30.32 30.62 30.81 31.12 31.42 31.61 31.92 30.32 31.87 33.99
SAUDI CERAMIC CO 38.18 37.86 38.01 38.11 38.26 38.41 38.51 38.66 37.11 43.92 56.88
SAUDI GROUND SER 44.63 43.74 44.16 44.42 44.84 45.26 45.52 45.94 40.77 45.29 N/A
SAUDI KAYAN PETR 5.28 5.13 5.20 5.25 5.33 5.40 5.45 5.53 5.01 6.39 8.10
SAUDI PAPER MANU 15.22 14.81 15.02 15.15 15.36 15.57 15.70 15.91 13.26 16.00 18.12
SAUDI PRINTING & 22.89 21.96 22.36 22.61 23.01 23.41 23.66 24.06 20.14 22.08 19.37
SAUDI RESEARCH A 43.44 42.21 42.79 43.14 43.71 44.29 44.64 45.21 42.27 42.16 28.90
SAUDI TELECOM CO 69.50 69.00 69.19 69.31 69.50 69.69 69.81 70.00 64.26 64.93 65.16
SAUDI TRANSPORT 52.69 51.73 52.11 52.35 52.73 53.11 53.35 53.73 52.42 57.80 61.21
SHAMS 39.10 38.03 38.49 38.77 39.23 39.69 39.97 40.43 35.63 36.09 38.57
THIMAR 34.95 34.25 34.63 34.87 35.25 35.63 35.87 36.25 32.56 35.93 47.81
TIHAMA 40.55 36.65 38.03 38.87 40.25 41.63 42.47 43.85 31.50 30.96 49.43
Sources: 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 Intraday 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
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“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.