QNBFS Daily Technical Trader - KSA May 03, 2016

Publish in

Economy & Finance

9 views

Please download to get full document.

View again

of 5
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Share
Description
The Index corrected slightly another day, yet it remained above the 6,700 level. We are seeing conflicting signals. As a result, unless the Index breaches below the 6,700 level, we lean towards the uptick.
Transcript
  • 1. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 1 of 5 Daily Technical Trader – KSA Tuesday, 03 May 2016 Today’s coverage Ticker Price (SAR) 1 st Target ALINMATO 20.81 21.75 TASI All Share Index Level % Ch. Vol. (mn) Last 6,716.49 -0.56 306.4 Resistance/Support Levels 1 st 2 nd 3 rd Resistance 6,850 7,000 7,100 Support 6,700 6,550 6,450 TASI All Share Index Commentary Overview: The Index corrected slightly another day, yet it remained above the 6,700 level. We are seeing conflicting signals. As a result, unless the Index breaches below the 6,700 level, we lean towards the uptick. Expected Resistance Level: 6,850 Expected Support Level: 6,700 TASI (Daily) Source: Bloomberg, QNBFS Research TASI Summary Market Indicators 01 May 01 May %Ch. Value (SAR bn) 6.0 6.4 -7.0 Mkt. Cap. (SAR bn) 1,542.4 1,552.1 -0.6 Volume (mn) 334.4 373.2 -10.4 Transactions 134,059 137,311 -2.4 Companies Traded 168 168 0.0 Market Breadth 64:101 70:95 – Saudi Equity Indices Market Indices Close 1D% RSI Banking 14,968.66 -1.07 54.45 Petrochem 4,499.46 -1.05 64.36 Cement 4,462.62 -0.53 52.19 Retail 10,217.22 -0.03 56.62 Energy and Utilities 5,980.77 1.64 57.05 Agriculture and Food 7,910.42 -0.29 48.96 Telecom 1,578.83 0.66 50.59 Insurance 1,275.05 -0.54 66.67 Multi-Investment 2,949.51 -1.03 61.00 Industrial Invest. 6,693.02 -2.07 78.45 Building and Const. 2,157.65 -1.34 67.53 RE Development 6,399.85 1.35 64.62 Transportation 7,590.17 -0.33 68.17 Media & Publishing 2,780.14 -0.75 46.15 Hotel and Tourism 10,671.16 -1.13 65.44 RSI 14 (Over Bought) From Page 3 Table Name Close 1D% RSI SAUDI MINING 39.02 -2.9 80.0 SAUDI KAYAN PETR 6.85 -1.3 77.6 SAPTCO 13.99 -0.3 77.3 DAR AL ARKAN RE 5.79 2.5 71.6 RSI 14 (Over Sold) From Page 3 Table Name Close 1D% RSI TASI (30min) Source: Bloomberg, QNBFS Research
  • 2. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 2 of 5 Alinma Tokio Marine Co. Price (SAR) % Ch. Volume Last 20.81 2.21 3,717,166 Resistance/Support Levels (SAR) 1 st 2 nd 3 rd Resistance 20.90 21.75 22.35 Support 19.85 18.90 18.50 Commentary Overview: The price has been congested in a tight, triangular shape. In addition, the moving averages have been clustered, suggested a strong breakout in either direction. If the price breaks out above the below mentioned level, then we expect the move to be strong upwards. Expected Price Target: SAR21.75 – SAR22.35 A price breakout above SAR20.90 triggers the buy recommendation. Suggested Stop-Loss Price: SAR19.85 (Daily) Source: Bloomberg, QNBFS Research (Hourly) Source: Bloomberg, QNBFS Research
  • 3. COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS Page 3 of 5 Intraday Fibonacci Sup/Res Levels for the Most Active in Traded Value Daily Moving Averages Support Levels Resistance Levels Ticker Close 3 rd 2 nd 1 st Pivot 1 st 2 nd 3 rd 50 SMA 100 SMA 200 SMA ADVANCED PETROCH 46.11 45.24 45.70 45.98 46.44 46.90 47.18 47.64 41.14 38.94 43.13 AL ALAMIYA COOP 32.61 31.60 31.95 32.16 32.50 32.85 33.06 33.40 31.15 37.04 47.74 AL RAJHI BANK 59.13 57.21 57.88 58.29 58.96 59.63 60.04 60.71 54.80 52.67 53.99 AL TAYYAR TRAVEL 40.56 39.45 39.87 40.13 40.55 40.97 41.23 41.65 36.95 45.10 61.60 ALANDALUS PROP 21.26 20.99 21.08 21.14 21.24 21.33 21.39 21.49 21.42 N/A N/A ALINMA BANK 14.16 13.89 13.98 14.04 14.14 14.23 14.29 14.39 13.40 13.47 15.44 ALINMA TOKIO MAR 20.81 20.34 20.57 20.71 20.94 21.17 21.31 21.54 20.45 20.12 20.30 ASH-SHARQIYAH 43.04 42.28 42.62 42.84 43.18 43.52 43.74 44.08 41.62 42.39 52.47 BANK AL-JAZIRA 14.04 13.68 13.81 13.90 14.03 14.16 14.25 14.38 13.67 13.73 17.23 BUPA ARABIA 125.79 121.93 123.84 125.02 126.93 128.84 130.02 131.93 115.79 111.93 116.02 CO FOR COOP 83.52 82.01 82.58 82.93 83.51 84.08 84.43 85.01 77.69 74.35 80.70 DAR AL ARKAN REA 5.79 5.53 5.61 5.65 5.73 5.81 5.85 5.93 5.09 5.24 6.12 EMAAR ECONOMIC 15.01 14.70 14.82 14.89 15.00 15.12 15.19 15.30 13.76 13.12 12.04 ETIHAD ETISALAT 29.43 29.21 29.29 29.33 29.41 29.49 29.53 29.61 28.37 26.51 27.65 JABAL OMAR DEVEL 64.15 60.55 61.70 62.40 63.55 64.70 65.40 66.55 57.33 53.23 57.97 KNOWLEDGE ECON 14.97 14.79 14.89 14.94 15.04 15.14 15.19 15.29 13.37 12.96 15.58 MALATH INSURANCE 16.91 16.44 16.59 16.68 16.84 16.99 17.08 17.24 15.16 15.87 19.98 MEDITERRANEAN 24.01 23.60 23.74 23.82 23.95 24.09 24.17 24.30 21.30 20.98 24.66 MOBILE TELECOM 8.93 8.84 8.88 8.91 8.94 8.98 9.01 9.04 8.13 7.53 8.61 NATIONAL COMM 43.01 42.54 42.73 42.85 43.04 43.23 43.35 43.54 41.44 42.62 49.00 NATIONAL SHIPPING 45.76 45.05 45.36 45.55 45.85 46.16 46.35 46.65 41.06 40.21 40.27 RABIGH REFINING 12.27 11.92 12.06 12.14 12.27 12.41 12.49 12.62 10.94 10.55 13.78 SABB TAKAFUL 28.32 27.31 27.65 27.86 28.21 28.55 28.76 29.11 25.92 25.87 32.68 SABIC 84.10 82.70 83.37 83.78 84.45 85.12 85.53 86.20 76.94 74.20 79.81 SAPTCO 13.99 13.63 13.78 13.88 14.03 14.18 14.28 14.43 12.18 12.61 16.62 SASCO 17.61 17.27 17.40 17.49 17.62 17.75 17.84 17.97 16.73 17.01 20.64 SAUDI ARABIAN MI 39.02 37.01 37.92 38.49 39.41 40.32 40.89 41.81 31.19 31.20 32.15 SAUDI CERAMIC 40.40 39.40 39.93 40.27 40.80 41.33 41.67 42.20 39.54 39.99 50.65 SAUDI GROUND 49.18 48.86 48.97 49.05 49.16 49.27 49.35 49.46 44.00 42.66 52.09 SAUDI KAYAN PETR 6.85 6.58 6.68 6.74 6.83 6.93 6.99 7.08 5.38 5.57 7.23 SAUDI PAPER MAN 14.08 13.93 13.98 14.02 14.08 14.13 14.17 14.23 13.92 14.42 16.35 SAUDI PRINTING 20.49 19.93 20.14 20.27 20.48 20.69 20.82 21.03 21.07 21.42 19.64 SAUDI RESEARCH 40.20 39.53 39.84 40.03 40.33 40.64 40.83 41.13 41.46 44.42 32.54 SAUDI TELECOM CO 63.13 62.21 62.50 62.67 62.96 63.25 63.42 63.71 64.72 64.31 64.43 SAUDI TRANSPORT 52.09 51.36 51.75 51.98 52.36 52.75 52.98 53.36 52.11 55.13 57.94 SHAMS 38.74 37.85 38.19 38.40 38.75 39.09 39.30 39.65 36.71 36.63 36.76 THIMAR 33.35 32.85 33.04 33.16 33.35 33.54 33.66 33.85 33.37 33.86 41.10 TIHAMA 36.81 36.07 36.34 36.50 36.77 37.04 37.20 37.47 37.33 32.81 40.76 Sources: Bloomberg, QNBFS Research; Note: Numbers in Italics denote moving averages that are above the given index level/stock price
  • 4. 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 Intraday 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.
  • 5. 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 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 QNB Financial Services SPC Contact Center: (+974) 4476 6666 PO Box 24025 Doha, Qatar Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services. Co WLL One Person Company (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“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.
  • Related Search

    Previous Document

    Stroke

    We Need Your Support
    Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

    Thanks to everyone for your continued support.

    No, Thanks
    SAVE OUR EARTH

    We need your sign to support Project to invent "SMART AND CONTROLLABLE REFLECTIVE BALLOONS" to cover the Sun and Save Our Earth.

    More details...

    Sign Now!

    We are very appreciated for your Prompt Action!

    x