22 January Daily technical trader

  • View
    215

  • Download
    3

Embed Size (px)

Text of 22 January Daily technical trader

  • COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 6

    Daily Technical Trader Qatar

    Thursday, 22 January 2015

    Stocks Covered Today

    Ticker Price Target

    QGTS 23.49 24.00

    BRES 45.30 43.80

    QSE Index

    Level % Ch. Vol. (mn)

    Last 11,849.63 -0.1 14.2

    Resistance/Support

    Levels 1st

    2nd

    3rd

    Resistance 11,850 12,000 12,250

    Support 11,750 11,600 11,480

    QSE Index Commentary

    Overview: The QSE Index as seen in the intraday chart is being squeezed inside the triangle. Although the Index is still in a range, we expect to see more selling pressure to come especially if a break below 11,850 persists. Indicators did not make any significant moves and the Index is still trading below its SMAs which is bearish on the medium-term. Expected Resistance Level: 12,000 Expected Support Level: 11,750

    QSE Index (Daily)

    Source: Bloomberg, QNBFS Research

    QE Summary

    Market Indicators 21 Jan 15 20 Jan 15 %Ch.

    Value Traded (QR mn) 634.2 690.6 -8.2

    Ex. Mkt. Cap. (QR bn) 645.2 647.0 -0.3

    Volume (mn) 12.4 16.0 -22.5

    Number of Trans. 7,223 7,555 -4.4

    Companies Traded 40 42 -4.8

    Market Breadth 16:21 24:15

    QE Indices

    Market Indices Close 1D% RSI

    Total Return 17,673.62 -0.1 42.3

    All Share Index 3,044.46 -0.1 42.8

    Banks 3,108.56 -0.3 42.6

    Industrials 3,751.86 0.4 38.1

    Transportation 2,289.05 -0.7 49.9

    Real Estate 2,272.29 -0.3 49.8

    Insurance 3,736.49 -0.2 47.7

    Telecoms 1,378.53 -0.7 43.8

    Consumer 7,118.19 1.3 57.6

    Al Rayan Islamic 4,046.22 0.2 48.3

    RSI 14 (Over Bought)

    Ticker Close 1D% RSI

    RSI 14 (Over Sold)

    Ticker Close 1D% RSI

    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 6

    QGTS

    Price % Ch. Volume

    Last 23.49 -0.21 984,905

    Resistance/Support

    Levels (QR) 1st

    2nd

    3rd

    Resistance 23.75 24.00 24.30

    Support 23.15 22.50 22.00

    Commentary

    Overview: QGTS exhibited long shadowed candlesticks over the past trading week. Those candlesticks indicate indecision on the part of traders. We see that there might be another chance for a rise that can be taken advantage of. The MACD on both time frames is in the positive territory and the RSI, although at the neutral area, is pointing upwards. Expected Target Price: QR24.00 QR24.25 Only a break above QR23.77 will trigger the buy recommendation for a quick trade. Suggested Stop-Loss price: QR23.23

    (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 6

    BRES

    Price % Ch. Volume

    Last 45.30 -0.77 2,003,896

    Resistance/Support

    Levels (QR) 1st

    2nd

    3rd

    Resistance 46.20 50.00 54.20

    Support 44.90 43.80 43.00

    Commentary

    Overview: The name reached a major downtrend line (denoted in red) and a break above this line may take the price to the QR50.00 price level. On the other hand, the intraday chart suggests profit taking is possible. The MACDs Histogram is reaching the zero line and the RSI reached the overbought area and is in the correction process. Expected Price Retreat: QR43.80 QR43.00 Only a sustained break below QR44.90 may take the price to the expected retreat.

    (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 4 of 6

    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 11,849.63 11,688.70 11,749.49 11,787.04 11,847.82 11,908.61 11,946.16 12,006.94 12,538.84 13,134.18 13,000.76

    Total Return 17,673.62 17,433.60 17,524.26 17,580.26 17,670.92 17,761.58 17,817.58 17,908.24 18,701.57 19,589.50 19,388.38

    All Share 3,044.46 3,007.82 3,021.75 3,030.35 3,044.28 3,058.21 3,066.81 3,080.74 3,199.15 3,334.56 3,301.86

    Al Rayan Islamic 4,046.22 3,989.03 4,008.92 4,021.21 4,041.10 4,060.99 4,073.28 4,093.17 4,214.40 4,425.16 4,356.96

    Banks & Financials Services

    MARK 44.45 43.08 43.60 43.92 44.43 44.95 45.27 45.78 45.95 50.07 50.95

    CBQK 66.00 64.33 65.10 65.57 66.33 67.10 67.57 68.33 69.30 70.75 69.13

    DHBK 58.80 56.27 57.03 57.50 58.27 59.03 59.50 60.27 56.87 58.37 59.61

    QIBK 106.80 101.47 102.99 103.94 105.47 106.99 107.94 109.47 103.14 109.04 102.45

    QIIK 79.00 77.87 78.40 78.73 79.27 79.80 80.13 80.67 81.50 85.00 84.46

    Insurance

    QATI 83.90 82.70 83.04 83.26 83.60 83.94 84.16 84.50 88.09 93.34 87.35

    Consumer Goods & Services

    MCGS 122.70 122.70 122.70 122.70 122.70 122.70 122.70 122.70 121.46 124.92 108.74

    Industrials

    IQCD 147.30 144.57 145.48 146.05 146.97 147.88 148.45 149.37 174.91 182.87 181.95

    QEWS 194.00 189.47 190.77 191.57 192.87 194.17 194.97 196.27 187.66 187.70 186.52

    GISS 96.40 93.73 94.69 95.28 96.23 97.19 97.78 98.73 100.85 111.22 105.44

    QIGD 38.20 36.73 37.50 37.97 38.73 39.50 39.97 40.73 41.72 48.58 54.62

    Real Estate

    BRES 45.30 44.03 44.61 44.96 45.53 46.11 46.46 47.03 44.88 43.23 41.48

    UDCD 24.70 23.90 24.21 24.39 24.70 25.01 25.19 25.50 24.62 26.45 26.12

    ERES 14.48 14.39 14.43 14.45 14.50 14.54 14.56 14.61 16.12 17.80 21.26

    MRDS 20.22 19.54 19.85 20.03 20.34 20.65 20.83 21.14 20.21 22.11 20.86

    Telecommunication

    ORDS 115.00 109.20 111.03 112.17 114.00 115.83 116.97 118.80 117.42 123.10 131.29

    VFQS 15.25 14.66 14.92 15.08 15.35 15.61 15.77 16.04 16.53 18.76 18.66

    Transportation

    QGTS 23.49 22.96 23.16 23.29 23.50 23.70 23.83 24.04 23.16 23.73 23.55

    QNNS 95.00 92.40 93.89 94.81 96.30 97.79 98.71 100.20 97.66 96.93 95.83 Source: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price

  • COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 5 of 6

    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 securitys 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 securitys 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 resistan