7 May Daily technical trader

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  • 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, 07 May 2015

    Stocks Covered Today

    Ticker Price 1st

    Target

    QIBK 104.00 105.90

    MRDS 19.18 19.70

    QSE Index

    Level % Ch. Vol. (mn)

    Last 12,334.06 1.0 4.6

    Resistance/Support

    Levels 1st

    2nd

    3rd

    Resistance 12,400 12,600 12,800

    Support 12,200 12,100 12,000

    QSE Index Commentary

    Overview: The QSE Index broke away from the Flag formation which was a bullish continuation pattern and gained just over 1%. We can safely say that the Index is in an intact uptrend over the short term. Indeed, it reached the overbought area on the RSI in the intraday chart. That been said, it should be noted that the RSI can sometimes be ignored when there is a strong bullish leg taking place. Expected Resistance Level: 12,400 Expected Support Level: 12,100

    QSE Index (Daily)

    Source: Bloomberg, QNBFS Research

    QE Summary

    Market Indicators 06 May 15 05 May 15 %Ch.

    Value Traded (QR mn) 762.0 374.9 103.2

    Ex. Mkt. Cap. (QR bn) 663.8 657.5 1.0

    Volume (mn) 16.2 9.1 77.8

    Number of Trans. 7,190 5,643 27.4

    Companies Traded 41 43 -4.7

    Market Breadth 27:11 28:11

    QE Indices

    Market Indices Close 1D% RSI

    Total Return 19,167.78 1.0 66.2

    All Share Index 3,297.69 1.0 67.5

    Banks 3,271.34 0.4 61.3

    Industrials 4,122.29 1.3 67.8

    Transportation 2,504.98 0.1 59.8

    Real Estate 2,651.96 1.7 67.8

    Insurance 4,369.81 4.2 73.8

    Telecoms 1,319.78 0.6 49.0

    Consumer 7,519.34 0.2 74.9

    Al Rayan Islamic 4,725.89 1.5 73.7

    RSI 14 (Over Bought)

    Ticker Close 1D% RSI

    MERS 252.00 0.8 80.1

    UDCD 23.90 2.9 77.2

    QGMD 16.24 -0.9 77.0

    MCGS 174.80 0.5 76.7

    QEWS 215.00 1.1 76.2

    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

    QIBK

    Price % Ch. Volume

    Last 104.00 0.97 91,755

    Resistance/Support

    Levels (QR) 1st

    2nd

    3rd

    Resistance 104.00 105.90 107.00

    Support 102.40 101.00 100.00

    Commentary

    Overview: The name broke above the recent range which extended since the middle of April. This break was accompanied by a large bullish candlestick. MACD and RSI on both time frames are up which is bullish. Stock price is facing a potential resistance just below QR106.00. We expect the price might move to that level. Expected Target Price: QR105.90 QR107.00 A break above QR104.00 is needed to trigger the short-term long position. Suggested Stop-Loss Price: QR102.00

    (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

    MRDS

    Price % Ch. Volume

    Last 19.18 1.00 351,410

    Resistance/Support

    Levels (QR) 1st

    2nd

    3rd

    Resistance 19.34 19.70 20.00

    Support 19.00 18.50 17.50

    Commentary

    Overview: MRDS had a rally since late March and stabilized over the past week. This consolidation could be the solid step for another run upwards, indicated by the MACD and the RSI on the hourly chart. For the risk-averse traders, it is recommended to wait for a confirmation before taking a position on the name. Expected Target Price: QR19.70 QR20.00 A break above 19.34 is needed to trigger the buy recommendation. Suggested Stop-Loss Price: QR19.00

    (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 12,334.06 12,136.58 12,193.16 12,228.11 12,284.69 12,341.27 12,376.22 12,432.80 11,940.96 12,041.59 12,763.84

    Total Return 19,167.78 18,860.87 18,948.80 19,003.12 19,091.05 19,178.98 19,233.30 19,321.23 18,445.57 18,301.13 19,207.75

    All Share 3,297.69 3,248.05 3,262.27 3,271.06 3,285.28 3,299.50 3,308.29 3,322.51 3,178.82 3,150.11 3,281.56

    Al Rayan Islamic 4,725.89 4,618.13 4,649.00 4,668.08 4,698.95 4,729.82 4,748.90 4,779.77 4,412.49 4,271.02 4,419.55

    Banks & Financials Services

    MARK 48.65 47.82 48.08 48.25 48.52 48.78 48.95 49.22 47.43 46.60 49.81

    CBQK 56.90 56.23 56.42 56.54 56.73 56.92 57.04 57.23 58.79 60.14 62.40

    DHBK 54.70 54.30 54.45 54.55 54.70 54.85 54.95 55.10 52.84 54.80 57.02

    QIBK 104.00 100.00 101.15 101.85 103.00 104.15 104.85 106.00 100.97 102.35 106.84

    QIIK 80.70 79.63 79.98 80.19 80.53 80.88 81.09 81.43 81.22 81.35 84.02

    Insurance

    QATI 85.00 79.67 81.19 82.14 83.67 85.19 86.14 87.67 78.01 77.18 80.01

    Consumer Goods & Services

    MCGS 174.80 171.73 172.61 173.15 174.03 174.91 175.45 176.33 153.54 139.26 132.00

    Industrials

    IQCD 151.90 147.90 149.05 149.75 150.90 152.05 152.75 153.90 142.49 150.17 168.62

    QEWS 215.00 211.00 212.15 212.85 214.00 215.15 215.85 217.00 193.91 192.04 189.86

    GISS 85.80 83.87 84.94 85.60 86.67 87.74 88.40 89.47 90.31 93.92 105.71

    QIGD 49.40 45.47 46.61 47.32 48.47 49.61 50.32 51.47 43.15 41.47 47.36

    Real Estate

    BRES 51.00 48.47 49.19 49.64 50.37 51.09 51.54 52.27 47.82 46.11 44.63

    UDCD 23.90 22.90 23.24 23.46 23.80 24.14 24.36 24.70 22.34 23.08 25.51

    ERES 17.00 16.83 16.90 16.94 17.01 17.08 17.12 17.19 16.14 15.71 17.60

    MRDS 19.18 18.69 18.84 18.93 19.09 19.24 19.33 19.49 18.12 18.29 20.00

    Telecommunication

    ORDS 99.90 97.37 98.09 98.54 99.27 99.99 100.44 101.17 103.93 109.96 118.16

    VFQS 17.43 17.10 17.20 17.26 17.36 17.46 17.52 17.62 17.52 16.77 18.42

    Transportation

    QGTS 22.76 22.65 22.69 22.72 22.75 22.79 22.82 22.85 23.05 23.23 23.69

    QNNS 100.00 98.00 98.57 98.93 99.50 100.07 100.43 101.00 101.61 100.16 98.44 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 expec