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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 Tuesday, 09 June 2015 Stocks Covered Today Ticker Price 1 st Target DHBK 53.00 51.50 CBQK 54.20 52.50 QSE Index Level % Ch. Vol. (mn) Last 11,903.08 -0.7 7.7 Resistance/Support Levels 1 st 2 nd 3 rd Resistance 12,000 12,150 12,270 Support 11,800 11,700 11,350 QSE Index Commentary Overview: The QSE Index dipped another 0.7% from the previous session. Although traded volumes dropped significantly, weakness is expected to continue if the Index drops below 11,900. Expected Resistance Level: 12,000 Expected Support Level: 11,800 QSE Index (Daily) Source: Bloomberg, QNBFS Research QE Summary Market Indicators 08 Jun 07 Jun %Ch. Value Traded (QR mn) 161.7 424.9 -61.9 Ex. Mkt. Cap. (QR bn) 634.2 637.9 -0.6 Volume (mn) 3.5 8.6 -59.3 Number of Trans. 2,800 4,608 -39.2 Companies Traded 42 41 2.4 Market Breadth 10:26 9:27 QE Indices Market Indices Close 1D% RSI Total Return 18,498.01 -0.7 37.2 All Share Index 3,184.31 -0.6 37.4 Banks 3,151.30 -0.5 38.1 Industrials 3,847.60 -0.3 39.3 Transportation 2,469.13 -0.6 49.3 Real Estate 2,637.00 -1.1 40.7 Insurance 4,717.69 -1.3 57.5 Telecoms 1,196.24 -1.0 33.8 Consumer 7,270.83 0.2 46.5 Al Rayan Islamic 4,577.19 -0.3 42.7 RSI 14 (Over Bought) Ticker Close 1D% RSI RSI 14 (Over Sold) Ticker Close 1D% RSI MPHC 24.21 -1.2 18.2 QFLS 170.80 -0.1 28.4 QSE Index (30min) Source: Bloomberg, QNBFS Research

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Daily Technical Trader – Qatar

Tuesday, 09 June 2015

Stocks Covered Today

Ticker Price 1st

Target

DHBK 53.00 51.50

CBQK 54.20 52.50

QSE Index

Level % Ch. Vol. (mn)

Last 11,903.08 -0.7 7.7

Resistance/Support

Levels 1st

2nd

3rd

Resistance 12,000 12,150 12,270

Support 11,800 11,700 11,350

QSE Index Commentary

Overview: The QSE Index dipped another 0.7% from the previous session. Although traded volumes dropped significantly, weakness is expected to continue if the Index drops below 11,900. Expected Resistance Level: 12,000 Expected Support Level: 11,800

QSE Index (Daily)

Source: Bloomberg, QNBFS Research

QE Summary

Market Indicators 08 Jun 07 Jun %Ch.

Value Traded (QR mn) 161.7 424.9 -61.9

Ex. Mkt. Cap. (QR bn) 634.2 637.9 -0.6

Volume (mn) 3.5 8.6 -59.3

Number of Trans. 2,800 4,608 -39.2

Companies Traded 42 41 2.4

Market Breadth 10:26 9:27 –

QE Indices

Market Indices Close 1D% RSI

Total Return 18,498.01 -0.7 37.2

All Share Index 3,184.31 -0.6 37.4

Banks 3,151.30 -0.5 38.1

Industrials 3,847.60 -0.3 39.3

Transportation 2,469.13 -0.6 49.3

Real Estate 2,637.00 -1.1 40.7

Insurance 4,717.69 -1.3 57.5

Telecoms 1,196.24 -1.0 33.8

Consumer 7,270.83 0.2 46.5

Al Rayan Islamic 4,577.19 -0.3 42.7

RSI 14 (Over Bought)

Ticker Close 1D% RSI

RSI 14 (Over Sold)

Ticker Close 1D% RSI

MPHC 24.21 -1.2 18.2

QFLS 170.80 -0.1 28.4

QSE Index (30min)

Source: Bloomberg, QNBFS Research

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DHBK

Price % Ch. Volume

Last 53.00 -1.67 18,245

Resistance/Support

Levels (QR) 1st

2nd

3rd

Resistance 54.00 54.50 55.30

Support 52.60 51.50 50.30

Commentary

Overview: DHBK’s has been in a long-term downtrend. In addition, the last bullish leg failed to sustain the price level above QR56.00. As a result, a drop below QR52.60 is expected to create a failure swing to the downside. Expected Price Retreat: QR51.50 – QR50.30 A breach below QR52.60 triggers the selling recommendation.

(Daily)

Source: Bloomberg, QNBFS Research

(Hourly)

Source: Bloomberg, QNBFS Research

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CBQK

Price % Ch. Volume

Last 54.20 -1.28 35,842

Resistance/Support

Levels (QR) 1st

2nd

3rd

Resistance 55.00 56.00 58.50

Support 54.00 52.50 50.00

Commentary

Overview: On a grand scale, CBQK created a Head and Shoulders price pattern. This is a bearish pattern and the price might continue lower if it breaks below the QR54.00 level. The expected targets are QR52.50 in the short term and QR50.00 in the longer term. Expected Price Retreat: QR52.50 – QR50.00 A breach below QR54.00 triggers the selling 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 3rd

2nd

1st

Pivot 1st

2nd

3rd

50 SMA 100 SMA 200 SMA

QSE Index 11,903.08 11,818.39 11,862.12 11,889.14 11,932.86 11,976.59 12,003.61 12,047.33 12,111.35 12,106.12 12,657.94

Total Return 18,498.01 18,366.40 18,434.36 18,476.34 18,544.29 18,612.25 18,654.23 18,722.18 18,821.18 18,574.03 19,138.13

All Share 3,184.31 3,165.56 3,175.63 3,181.85 3,191.92 3,201.99 3,208.21 3,218.28 3,234.61 3,198.15 3,274.95

Al Rayan Islamic 4,577.19 4,541.59 4,554.38 4,562.28 4,575.07 4,587.86 4,595.76 4,608.55 4,585.20 4,431.00 4,443.09

Banks & Financials Services

MARK 45.60 44.93 45.16 45.30 45.53 45.76 45.90 46.13 47.46 47.13 48.85

CBQK 54.20 54.00 54.11 54.19 54.30 54.41 54.49 54.60 56.37 59.03 61.70

DHBK 53.00 52.27 52.61 52.82 53.17 53.51 53.72 54.07 53.83 54.73 56.63

QIBK 105.90 104.57 104.95 105.18 105.57 105.95 106.18 106.57 103.59 103.58 106.63

QIIK 79.60 78.87 79.13 79.30 79.57 79.83 80.00 80.27 80.16 81.50 83.42

Insurance

QATI 96.50 94.83 95.79 96.38 97.33 98.29 98.88 99.83 86.21 81.91 81.77

Consumer Goods & Services

MCGS 179.00 178.33 178.72 178.95 179.33 179.72 179.95 180.33 165.23 152.58 139.02

Industrials

IQCD 134.60 132.60 133.44 133.96 134.80 135.64 136.16 137.00 142.43 144.43 164.50

QEWS 219.80 217.33 218.67 219.50 220.83 222.17 223.00 224.33 207.63 199.28 193.42

GISS 79.50 76.70 77.69 78.31 79.30 80.29 80.91 81.90 85.56 91.16 101.68

QIGD 53.30 50.90 51.63 52.07 52.80 53.53 53.97 54.70 48.33 44.62 47.01

Real Estate

BRES 50.70 49.77 50.11 50.32 50.67 51.01 51.22 51.57 49.26 48.27 45.70

UDCD 23.00 22.99 23.00 23.00 23.00 23.01 23.01 23.01 22.66 23.18 24.93

ERES 17.04 16.77 16.89 16.96 17.09 17.21 17.28 17.41 17.63 16.67 17.34

MRDS 18.60 18.53 18.57 18.60 18.63 18.67 18.70 18.73 18.71 18.65 19.94

Telecommunication

ORDS 90.00 88.93 89.32 89.55 89.93 90.32 90.55 90.93 98.00 105.00 114.19

VFQS 16.05 15.91 15.98 16.02 16.09 16.16 16.20 16.27 17.37 17.18 18.10

Transportation

QGTS 22.32 22.21 22.27 22.31 22.37 22.43 22.47 22.53 22.57 23.22 23.49

QNNS 99.00 97.93 98.24 98.43 98.73 99.04 99.23 99.53 99.04 100.96 98.91 Source: 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:

Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC

Head of Research Head of HNI Contact Center: (+974) 4476 6666

Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025

[email protected] [email protected] Doha, Qatar

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