QNBFS Daily Technical Trader - Qatar August 09, 2016

Publish in

Economy & Finance

45 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 momentum has not changed and remains positive but the Index reached the overbought area on both the daily and the intraday timeframes. That been said, it is acceptable to see the RSI reaching the overbought area in an uptrend, but it can be considered as a minor signal for a possible correction.
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 – Qatar Tuesday, 09 August 2016 Today’s Coverage Ticker Price Target MPHC 19.34 19.740 QSE Index Level % Ch. Vol. (mn) Last 10,920.29 1.21 9.5 Resistance/Support Levels 1 st 2 nd 3 rd Resistance 11,000 11,150 11,250 Support 10,900 10,650 10,550 QSE Index Commentary Overview: The momentum has not changed and remains positive but the Index reached the overbought area on both the daily and the intraday timeframes. That been said, it is acceptable to see the RSI reaching the overbought area in an uptrend, but it can be considered as a minor signal for a possible correction. Expected Resistance Level: 11,000 Expected Support Level: 10,900 QSE Index (Daily) Source: Bloomberg, QNBFS Research QSE Summary Market Indicators 08 Aug 07 Aug %Ch. Value Traded (QR mn) 509.6 274.0 86.0 Ex. Mkt. Cap. (QR bn) 585.0 578.1 1.2 Volume (mn) 11.7 6.7 73.7 Number of Trans. 5,411 4,283 26.3 Companies Traded 42 41 2.4 Market Breadth 27:13 33:5 – QSE Indices Market Indices Close 1D% RSI Total Return 17,668.31 1.2 74.1 All Share Index 3,008.00 1.0 73.6 Banks 2,981.09 1.8 78.2 Industrials 3,279.85 0.5 66.8 Transportation 2,588.57 0.2 69.7 Real Estate 2,738.46 0.9 70.0 Insurance 4,327.58 -0.1 56.9 Telecoms 1,207.43 1.0 73.0 Consumer Goods 6,587.49 0.2 57.5 Al Rayan Islamic 4,187.10 1.2 76.0 RSI 14 (Overbought) Ticker Close 1D% RSI VFQS 12.37 6.0 79.2 QIBK 115.50 2.5 77.1 BRES 36.65 2.2 77.1 UDCD 20.70 3.6 76.1 QNBK 158.50 2.3 75.8 RSI 14 (Oversold) Ticker Close 1D% RSI QSE Index (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 Mesaieed Petrochemical Holding Co. (MPHC) Price % Ch. Volume Last 19.34 0.47 443,273 Resistance/Support Levels (QR) 1 st 2 nd 3 rd Resistance 19.35 19.70 20.00 Support 19.00 18.90 18.50 Commentary Overview: The name has underperformed the general market Index since mid-June of this year. This could change as the price has seen in slight uptick and possibly building a base for an upcoming bullish leg. Expected Target Price: QR19.70 – QR20.00 A price breakout above QR19.35 triggers the buy recommendation. Suggested Stop-Loss Price: QR19.00 (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 Support and Resistance Levels 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 QSE Index 10,920.29 10,758.81 10,805.07 10,833.66 10,879.92 10,926.18 10,954.77 11,001.03 10,106.01 10,109.49 10,127.99 Total Return 17,668.31 17,407.04 17,481.90 17,528.14 17,602.99 17,677.85 17,724.09 17,798.94 16,350.85 16,337.69 16,084.00 All Share 3,008.00 2,969.76 2,980.72 2,987.48 2,998.44 3,009.40 3,016.16 3,027.12 2,809.33 2,811.75 2,761.41 Al Rayan Islamic 4,187.10 4,113.24 4,135.06 4,148.53 4,170.35 4,192.17 4,205.64 4,227.46 3,908.62 3,929.64 3,834.88 Banks & Financials Services MARK 37.50 36.53 36.82 37.00 37.28 37.57 37.75 38.03 34.62 34.55 35.55 CBQK 40.35 39.02 39.40 39.63 40.02 40.40 40.63 41.02 37.55 38.40 41.82 DHBK 37.90 36.97 37.23 37.40 37.67 37.93 38.10 38.37 35.90 36.31 39.43 QIBK 115.50 110.50 112.22 113.28 115.00 116.72 117.78 119.50 99.68 99.71 102.12 QIIK 64.90 64.70 64.78 64.82 64.90 64.98 65.02 65.10 62.51 63.65 65.34 Insurance QATI 80.80 78.93 79.47 79.80 80.33 80.87 81.20 81.73 75.74 78.20 75.53 Consumer Goods & Services MCGS 95.00 94.33 94.72 94.95 95.33 95.72 95.95 96.33 96.30 101.15 108.91 Industrials IQCD 111.50 108.97 109.69 110.14 110.87 111.59 112.04 112.77 101.12 102.50 104.29 QEWS 228.00 226.80 227.14 227.36 227.70 228.04 228.26 228.60 211.43 208.06 205.29 GISS 36.10 35.93 35.99 36.03 36.08 36.14 36.18 36.23 37.01 36.38 41.41 QIGD 50.70 50.10 50.44 50.66 51.00 51.34 51.56 51.90 48.71 49.99 43.19 Real Estate BRES 36.65 35.38 35.75 35.97 36.33 36.70 36.92 37.28 33.38 33.54 35.87 UDCD 20.70 19.75 20.02 20.19 20.46 20.73 20.90 21.17 19.13 19.11 19.96 ERES 19.74 19.51 19.59 19.64 19.72 19.80 19.85 19.93 18.41 18.23 17.02 MRDS 14.38 14.05 14.17 14.24 14.36 14.48 14.55 14.67 13.66 13.93 13.44 Telecommunication ORDS 95.40 94.53 94.88 95.09 95.43 95.78 95.99 96.33 89.79 89.69 83.51 VFQS 12.37 10.98 11.46 11.76 12.24 12.72 13.02 13.50 10.88 11.43 11.59 Transportation QGTS 24.80 24.45 24.58 24.67 24.81 24.94 25.03 25.17 23.53 23.35 23.22 QNNS 89.30 86.70 87.46 87.94 88.70 89.46 89.94 90.70 87.33 88.66 91.45 Source: 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 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.
  • 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 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 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
    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