5
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 5 Daily Technical Trader – Qatar Tuesday, 09 January 2018 Today’s Coverage Ticker Price Target QEWS 183.00 192.00 QSE Index Level % Ch. Vol. (mn) Last 8,975.82 2.57 9.8 Resistance/Support Levels 1 st 2 nd 3 rd Resistance 9,000 9,250 9,600 Support 8,850 8,600 8,500 QSE Index Commentary Overview: The Index had a strong rally, reaching the psychological resistance level of 9,000. At this point, the Index met its 200 daily moving average which may act as a resistance against the current strength. Expected Resistance Level: 9,000 Expected Support Level: 8,850 QSE Index (Daily) Source: Bloomberg, QNBFS Research QSE Summary Market Indicators 08 Jan 07 Jan %Ch. Value Traded (QR mn) 411.4 203.5 102.1 Ex. Mkt. Cap. (QR bn) 493.7 482.1 2.4 Volume (mn) 15.2 8.0 91.0 Number of Trans. 6,694 3,567 87.7 Companies Traded 43 42 2.4 Market Breadth 30:12 32:9 QSE Indices Market Indices Close 1D% RSI Total Return 15,051.92 2.6 82.1 All Share Index 2,567.51 2.5 80.8 Banks 2,817.88 2.5 80.8 Industrials 2,731.39 2.6 76.2 Transportation 1,905.09 3.0 81.6 Real Estate 1,995.16 2.6 71.4 Insurance 3,654.60 5.2 65.3 Telecoms 1,142.17 1.8 68.2 Consumer Goods 5,092.81 -0.3 74.4 Al Rayan Islamic 3,614.55 1.5 80.6 Source: Bloomberg RSI 14 (Overbought) Ticker Close 1D% RSI QGTS 17.69 4.3 85.5 QIIK 59.00 1.7 83.1 MARK 41.90 3.2 82.5 UDCD 15.31 3.4 80.3 MPHC 13.95 2.2 78.3 Source: Bloomberg RSI 14 (Oversold) Ticker Close 1D% RSI QSE Index (30min) Source: Bloomberg, QNBFS Research

QNBFS Daily Technical Trader - Qatar for January 09, 2018

Embed Size (px)

Citation preview

Page 1: QNBFS Daily Technical Trader - Qatar for January 09, 2018

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

Daily Technical Trader – Qatar

Tuesday, 09 January 2018

Today’s Coverage

Ticker Price Target

QEWS 183.00 192.00

QSE Index

Level % Ch. Vol. (mn)

Last 8,975.82 2.57 9.8

Resistance/Support

Levels 1st

2nd

3rd

Resistance 9,000 9,250 9,600

Support 8,850 8,600 8,500

QSE Index Commentary

Overview:

The Index had a strong rally, reaching the

psychological resistance level of 9,000. At

this point, the Index met its 200 daily

moving average which may act as a

resistance against the current strength.

Expected Resistance Level: 9,000

Expected Support Level: 8,850

QSE Index (Daily)

Source: Bloomberg, QNBFS Research

QSE Summary

Market Indicators 08 Jan 07 Jan %Ch.

Value Traded (QR mn) 411.4 203.5 102.1

Ex. Mkt. Cap. (QR bn) 493.7 482.1 2.4

Volume (mn) 15.2 8.0 91.0

Number of Trans. 6,694 3,567 87.7

Companies Traded 43 42 2.4

Market Breadth 30:12 32:9 –

QSE Indices

Market Indices Close 1D% RSI

Total Return 15,051.92 2.6 82.1

All Share Index 2,567.51 2.5 80.8

Banks 2,817.88 2.5 80.8

Industrials 2,731.39 2.6 76.2

Transportation 1,905.09 3.0 81.6

Real Estate 1,995.16 2.6 71.4

Insurance 3,654.60 5.2 65.3

Telecoms 1,142.17 1.8 68.2

Consumer Goods 5,092.81 -0.3 74.4

Al Rayan Islamic 3,614.55 1.5 80.6

Source: Bloomberg

RSI 14 (Overbought)

Ticker Close 1D% RSI

QGTS 17.69 4.3 85.5

QIIK 59.00 1.7 83.1

MARK 41.90 3.2 82.5

UDCD 15.31 3.4 80.3

MPHC 13.95 2.2 78.3

Source: Bloomberg

RSI 14 (Oversold)

Ticker Close 1D% RSI

QSE Index (30min)

Source: Bloomberg, QNBFS Research

Page 2: QNBFS Daily Technical Trader - Qatar for January 09, 2018

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

QATAR ELECTRICITY & WATER CO. (QEWS)

Price % Ch. Volume

Last 183.00 1.61 150,794

Resistance/Support

Levels (QR) 1st

2nd

3rd

Resistance 184.00 192.00 208.00

Support 173.00 170.00 162.00

Commentary

Overview:

The price is possibly creating an inverse

Head and Shoulders formation, which is a

bullish reversal formation. That being

said, the formation has not been

confirmed and will be probably confirmed

once the below mentioned condition is

met.

Expected Target Price: QR192.00 –

QR208.00

A price breakout above QR184.00 triggers

the buy idea.

Suggested Stop-Loss Price: QR173.00

(Daily)

Source: Bloomberg, QNBFS Research

(Hourly)

Source: Bloomberg, QNBFS Research

Page 3: QNBFS Daily Technical Trader - Qatar for January 09, 2018

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 8,975.82 8,692.99 8,774.02 8,824.08 8,905.11 8,986.14 9,036.20 9,117.23 8,109.92 8,317.68 9,047.85

Total Return 15,051.92 14,577.64 14,713.52 14,797.47 14,933.35 15,069.23 15,153.18 15,289.06 13,599.85 13,948.25 15,155.93

All Share 2,567.51 2,486.76 2,509.90 2,524.19 2,547.32 2,570.46 2,584.75 2,607.88 2,278.99 2,346.95 2,559.58

Al Rayan Islamic 3,614.55 3,547.68 3,567.84 3,580.29 3,600.46 3,620.62 3,633.07 3,653.24 3,170.97 3,292.40 3,594.61

Banks & Financials Services

MARK 41.90 40.22 40.70 41.00 41.48 41.96 42.26 42.74 35.79 36.64 39.23

CBQK 29.20 28.24 28.52 28.68 28.96 29.24 29.40 29.68 27.21 28.17 29.42

DHBK 30.46 30.01 30.16 30.26 30.42 30.57 30.67 30.83 27.65 28.45 29.68

QIBK 99.98 97.07 97.91 98.42 99.25 100.09 100.60 101.43 95.10 94.09 96.07

QIIK 59.00 57.33 57.83 58.14 58.63 59.13 59.44 59.93 49.90 51.19 55.62

Insurance

QATI 55.88 52.03 53.13 53.81 54.92 56.02 56.70 57.81 45.24 51.56 60.69

Consumer Goods & Services

MCGS 74.25 71.60 72.88 73.67 74.96 76.24 77.03 78.32 60.98 65.98 78.10

Industrials

IQCD 101.60 97.07 98.38 99.20 100.52 101.83 102.65 103.97 94.69 93.44 98.01

QEWS 183.00 177.13 178.97 180.10 181.93 183.77 184.90 186.73 175.33 178.85 191.74

GISS 18.40 17.48 17.82 18.03 18.37 18.71 18.92 19.26 16.61 17.68 20.74

QIGD 39.39 36.14 37.09 37.68 38.63 39.58 40.17 41.12 30.47 34.70 44.61

Real Estate

BRES 33.76 33.01 33.27 33.43 33.69 33.95 34.11 34.37 29.81 30.72 32.30

UDCD 15.31 14.65 14.87 15.00 15.22 15.44 15.57 15.79 13.32 14.05 16.23

ERES 12.49 11.90 12.07 12.18 12.34 12.51 12.62 12.78 9.64 10.10 12.05

MRDS 9.05 8.92 8.97 9.01 9.07 9.12 9.16 9.22 7.74 8.67 10.32

Telecommunication

ORDS 95.43 92.21 93.24 93.88 94.91 95.94 96.58 97.61 86.43 86.03 92.67

VFQS 8.10 8.03 8.06 8.09 8.13 8.16 8.19 8.23 7.08 7.64 8.28

Transportation

QGTS 17.69 16.71 16.99 17.17 17.45 17.73 17.91 18.19 14.73 15.39 17.24

QNNS 57.60 55.31 55.96 56.37 57.03 57.68 58.09 58.75 51.58 54.95 62.70 Source: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price

Page 4: QNBFS Daily Technical Trader - Qatar for January 09, 2018

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.

Page 5: QNBFS Daily Technical Trader - Qatar for January 09, 2018

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, CFA, CAIA Shahan Keushgerian

Senior Research Analyst Head of Research Senior Research Analyst

Tel: (+974) 4476 6535 Tel: (+974) 4476 6534 Tel: (+974) 4476 6509

[email protected] [email protected] [email protected]

Mohamed Abo Daff Ahmed El-Khudary Feras Al-Sarraj

Senior Research Analyst Head of Trading Head of Sales

Tel: (+974) 4476 6589 Tel: (+974) 4476 6533 Tel: (+974) 4476 6514

[email protected] [email protected] [email protected]

QNB Financial Services

Contact Center: (+974) 4476 6666

PO Box 24025

Doha, Qatar

Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services Co. W.L.L. (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (Q.P.S.C.) (“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.