COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 5

Daily Technical Trader – Qatar

Sunday, 13 December 2015

Stock Covered Today

Ticker Price 1st

Target

IQCD 102.70 100.00

QSE Index

Level % Ch. Vol. (mn)

Last 10,014.82 -0.04 8.2

Resistance/Support

Levels 1st

2nd

3rd

Resistance 10,300 10,500 10,800

Support 10,000 9,900 9,800

QSE Index Commentary

Overview: The QSE Index stabilized another week above the 10,000 level. The Index is prone to oil prices fluctuations and Friday’s drop in oil prices could have a strong influence on the general market sentiment. As a result, we expect more volatility on our down-trending market. Expected Resistance Level: 10,300 Expected Support Level: 10,000

QSE Index (Daily)

Source: Bloomberg, QNBFS Research

QE Summary

Market Indicators 10 Dec 09 Dec %Ch.

Value Traded (QR mn) 256.2 391.0 -34.5

Ex. Mkt. Cap. (QR bn) 528.8 528.5 0.1

Volume (mn) 7.0 8.9 -20.9

Number of Trans. 4,123 5,006 -17.6

Companies Traded 39 42 -7.1

Market Breadth 19:16 9:29 –

QE Indices

Market Indices Close 1D% RSI

Total Return 15,566.60 0.0 26.5

All Share Index 2,670.67 0.0 25.5

Banks 2,720.64 -0.9 32.5

Industrials 3,002.13 0.1 31.2

Transportation 2,419.71 1.8 38.3

Real Estate 2,225.73 1.8 29.2

Insurance 4,003.49 -1.7 33.4

Telecoms 909.97 2.0 41.0

Consumer 5,812.56 -0.4 11.9

Al Rayan Islamic 3,694.44 0.0 21.5

RSI 14 (Over Bought)

Ticker Close 1D% RSI

RSI 14 (Over Sold)

Ticker Close 1D% RSI

QCFS 38.00 0.0 17.7

ZHCD 84.00 0.0 18.1

MCGS 120.30 -5.1 18.6

MRDS 14.10 -0.1 20.5

DOHI 20.03 -0.9 23.6

QSE Index (30min)

Source: Bloomberg, QNBFS Research

COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 2 of 5

IQCD

Price % Ch. Volume

Last 102.70 -1.15 162,995

Resistance/Support

Levels (QR) 1st

2nd

3rd

Resistance 105.00 110.00 113.00

Support 101.50 100.00 94.50

Commentary

Overview: IQCD has been in a downtrend for the past year; this trend might continue. We realize that the price is just above an important support. The mentioned support lies around the QR100.00 mark. It is a psychological figure that happened to be at the lower border of the downtrend channel. As a result, we expect the price to tumble further once it breaks below the QR100.00 because once it does breach that limit, it will hit the fresh five-year low territory. Expected Price Retreat: QR100.00 – QR94.50 A price breach below QR101.50 triggers the sell recommendation.

(Daily)

Source: Bloomberg, QNBFS Research

(Hourly)

Source: Bloomberg, QNBFS Research

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 3rd

2nd

1st

Pivot 1st

2nd

3rd

50 SMA 100 SMA 200 SMA

QSE Index 10,014.82 9,813.24 9,874.77 9,912.79 9,974.32 10,035.85 10,073.87 10,135.40 11,149.93 11,355.95 11,694.98

Total Return 15,566.60 15,253.29 15,348.92 15,408.01 15,503.65 15,599.28 15,658.37 15,754.01 17,330.97 17,651.19 18,146.04

All Share 2,670.67 2,621.54 2,636.23 2,645.31 2,659.99 2,674.68 2,683.76 2,698.44 2,968.71 3,026.69 3,117.69

Al Rayan Islamic 3,694.44 3,615.48 3,641.72 3,657.92 3,684.16 3,710.40 3,726.60 3,752.84 4,205.39 4,329.36 4,434.61

Banks & Financials Services

MARK 36.30 35.20 35.52 35.73 36.05 36.37 36.58 36.90 41.08 42.29 44.52

CBQK 45.10 43.37 44.04 44.45 45.12 45.79 46.20 46.87 51.86 53.89 55.49

DHBK 44.60 43.40 43.74 43.96 44.30 44.64 44.86 45.20 48.23 50.00 51.68

QIBK 113.00 112.27 112.65 112.88 113.27 113.65 113.88 114.27 117.39 114.41 109.04

QIIK 65.10 63.57 64.18 64.56 65.17 65.78 66.16 66.77 72.81 74.57 77.55

Insurance

QATI 80.50 79.03 79.87 80.39 81.23 82.07 82.59 83.43 90.97 94.12 90.48

Consumer Goods & Services

MCGS 120.30 115.50 118.14 119.76 122.40 125.04 126.66 129.30 152.38 162.09 164.38

Industrials

IQCD 102.70 100.17 100.97 101.46 102.27 103.07 103.56 104.37 116.31 123.55 132.25

QEWS 208.00 205.47 206.19 206.64 207.37 208.09 208.54 209.27 210.53 212.55 209.46

GISS 51.30 47.57 48.83 49.61 50.87 52.13 52.91 54.17 60.41 62.46 73.84

QIGD 36.05 34.08 34.81 35.26 35.98 36.71 37.16 37.88 43.32 45.59 46.81

Real Estate

BRES 40.00 38.40 38.93 39.27 39.80 40.33 40.67 41.20 43.34 44.51 47.05

UDCD 19.80 18.86 19.15 19.32 19.61 19.90 20.07 20.36 23.13 23.67 23.40

ERES 14.85 13.95 14.26 14.46 14.77 15.08 15.28 15.59 18.15 18.11 17.63

MRDS 14.10 13.83 13.93 13.99 14.10 14.20 14.26 14.37 15.91 16.35 17.42

Telecommunication

ORDS 70.70 68.10 68.90 69.40 70.20 71.00 71.50 72.30 74.77 75.04 86.25

VFQS 11.02 10.54 10.71 10.82 10.99 11.16 11.27 11.44 13.39 13.94 15.55

Transportation

QGTS 22.88 21.89 22.18 22.36 22.64 22.93 23.11 23.39 24.12 23.08 22.90

QNNS 96.30 96.30 96.30 96.30 96.30 96.30 96.30 96.30 97.69 97.58 98.71 Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock close price

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.

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 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

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.