Technical analysis of the QE index

30/03/2014 08:24 AST

The QE Index ended the week on a bullish note closing at its weekly high. The index started the week on a weak note registering losses on Sunday and Monday, but rebounded in the remaining three trading sessions signifying a shift in the underlying sentiment. The strong gains on Thursday helped the index to clear its 55-day and 21-day moving averages as well as the 11,400.0 psychological level in a single swoop, which is a positive development. We believe the index’s correction phase may be over and it may resume its upmove. However, the index faces its immediate resistance of the 11,520.55 level. A move above this level is required for the bulls to take full control for the continuation of the bullish move, which may push the index toward the 11,600.0-11,700.0-750.0 levels. The index may not witness a smooth ride ahead until the 11,520.55 level is surpassed. On the flip side, both the 21-day and the 55-day moving averages may provide a good support for the index. Any retreat below these moving averages may pull the index to test the 11,300.0 psychological level, which is an important level traders can watch out for any declines. Meanwhile, with the RSI showing a bullish divergence and the MACD showing signs of recovery, the index is likely to continue its bullish move. Thus, traders may adopt a bullish approach but must also follow strict stop losses.


Gulf Times

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

Stock Market Info

QE 8,707.67 -14.08 (-0.16%)

Valuation

Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Index Chart

Top Related Companies

Ticker Price Change
QNBK 134.50 0.61 (0.45%)
IQCD 108.99 0.99 (0.91%)
ERES 10.25 -0.28 (-2.66%)
MARK 35.99 -0.11 (-0.31%)
ORDS 82.51 -1.09 (-1.31%)

Recent News

Foreign investors pile into Saudi Arabia in March amid kingdom's FTSE upgrade

05/04/2018

Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r

The National

Muscat bourse gains lifted by activity in financial shares

05/04/2018

Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti

Times of Oman

Dubai bourse takes a hit in traded value

05/04/2018

Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s

Gulf News

Financial blue chips drive Muscat bourse recovery

04/04/2018

Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank

Times of Oman

Emaar Properties stock hits new one-year low

04/04/2018

Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap