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Daily Technical Trader – Qatar

Tuesday, 23 August 2016

Today’s Coverage

Ticker Price Target

BRES 37.40 38.40

QSE Index

Level % Ch. Vol. (mn)

Last 11,213.85 -0.74 4.4

Resistance/Support

Levels 1st

2nd

3rd

Resistance 11,300 11,500 11,600

Support 11,150 11,000 10,900

QSE Index Commentary

Overview:

The Index dropped below the 11,300 but

its movement in the last hour of the past

session indicates a possible rebound

upwards.

Expected Resistance Level: 11,300

Expected Support Level: 11,150

QSE Index (Daily)

Source: Bloomberg, QNBFS Research

QSE Summary

Market Indicators 22 Aug 21 Aug %Ch.

Value Traded (QR mn) 204.8 96.5 112.1

Ex. Mkt. Cap. (QR bn) 599.0 603.9 -0.8

Volume (mn) 5.2 3.2 60.2

Number of Trans. 3,710 2,414 53.7

Companies Traded 43 39 10.3

Market Breadth 12:27 8:28 –

QSE Indices

Market Indices Close 1D% RSI

Total Return 18,143.26 -0.7 68.7

All Share Index 3,080.70 -0.6 68.2

Banks 3,050.94 -1.0 65.1

Industrials 3,368.44 -0.7 66.9

Transportation 2,633.68 -0.7 65.3

Real Estate 2,733.51 -0.2 56.6

Insurance 4,764.96 1.0 74.5

Telecoms 1,273.69 -2.2 68.6

Consumer Goods 6,574.91 0.3 53.5

Al Rayan Islamic 4,233.19 -0.4 67.5

RSI 14 (Overbought)

Ticker Close 1D% RSI

QATI 90.60 0.7 74.4

AHCS 14.60 -1.6 72.3

RSI 14 (Oversold)

Ticker Close 1D% RSI

QSE Index (30min)

Source: Bloomberg, QNBFS Research

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Barwa Real Estate Co. (BRES)

Price % Ch. Volume

Last 37.40 0.40 142,246

Resistance/Support

Levels (QR) 1st

2nd

3rd

Resistance 37.40 38.40 39.40

Support 37.00 36.50 36.00

Commentary

Overview:

The name has been in an uptrend since

June and the name corrected 3.8% from

its recent peak. The good news is that the

price created a Bullish Engulfing

candlestick on the daily chart. That

means a bounce from the current levels is

possible.

Expected Target Price: QR38.40 – QR39.40

A price breakout above QR37.40 triggers

the buy recommendation.

Suggested Stop-Loss Price: QR36.50

(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 11,213.85 11,073.31 11,127.17 11,160.45 11,214.31 11,268.17 11,301.45 11,355.31 10,407.80 10,190.95 10,108.77

Total Return 18,143.26 17,915.88 18,003.03 18,056.86 18,144.01 18,231.16 18,284.99 18,372.14 16,839.12 16,483.04 16,089.63

All Share 3,080.70 3,045.00 3,058.38 3,066.64 3,080.02 3,093.40 3,101.66 3,115.04 2,883.10 2,834.20 2,761.38

Al Rayan Islamic 4,233.19 4,192.60 4,208.25 4,217.92 4,233.57 4,249.22 4,258.89 4,274.54 4,002.18 3,956.12 3,827.99

Banks & Financials Services

MARK 38.55 37.92 38.16 38.32 38.57 38.81 38.97 39.22 35.65 34.79 35.32

CBQK 43.80 42.80 43.09 43.26 43.55 43.84 44.01 44.30 38.96 38.40 41.34

DHBK 39.00 38.50 38.65 38.75 38.90 39.05 39.15 39.30 36.68 36.48 38.90

QIBK 113.50 112.63 112.94 113.13 113.43 113.74 113.93 114.23 103.71 100.58 101.85

QIIK 67.00 66.53 66.76 66.90 67.13 67.36 67.50 67.73 63.62 63.17 64.93

Insurance

QATI 90.60 87.67 88.51 89.03 89.87 90.71 91.23 92.07 78.27 78.41 75.85

Consumer Goods & Services

MCGS 94.90 93.37 93.90 94.23 94.77 95.30 95.63 96.17 95.21 99.23 105.60

Industrials

IQCD 114.30 112.50 113.23 113.67 114.40 115.13 115.57 116.30 104.59 103.16 103.96

QEWS 231.50 229.43 230.04 230.42 231.03 231.64 232.02 232.63 217.50 211.52 206.21

GISS 36.90 36.13 36.40 36.57 36.83 37.10 37.27 37.53 36.79 36.32 40.10

QIGD 53.60 52.87 53.10 53.24 53.47 53.70 53.84 54.07 49.80 50.91 43.58

Real Estate

BRES 37.40 36.87 37.02 37.11 37.27 37.42 37.51 37.67 34.71 33.76 35.52

UDCD 21.16 20.97 21.08 21.15 21.26 21.37 21.44 21.55 19.72 19.28 19.80

ERES 19.50 19.23 19.33 19.39 19.48 19.58 19.64 19.73 18.92 18.39 17.04

MRDS 14.80 14.56 14.66 14.71 14.81 14.91 14.96 15.06 13.96 14.00 13.40

Telecommunication

ORDS 102.90 100.23 101.49 102.27 103.53 104.79 105.57 106.83 93.20 90.99 84.75

VFQS 12.01 11.84 11.93 11.99 12.09 12.18 12.24 12.34 11.16 11.41 11.49

Transportation

QGTS 24.83 24.38 24.51 24.59 24.72 24.85 24.93 25.06 23.87 23.53 23.23

QNNS 93.80 91.40 92.36 92.95 93.90 94.86 95.45 96.40 88.59 88.70 91.12 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:

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

Sahbi Kasraoui Youssef Elboghdady QNB Financial Services

Acting Head of Trading Head of Institutional Sales & Trading Contact Center: (+974) 4476 6666

Tel: (+974) 4476 6544 Tel: (+974) 4476 6542 PO Box 24025

sahbi.alkasraoui@qnbfs.com.qa youssef.elboghdady@qnbfs.com.qa Doha, Qatar

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