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									Saudi Stock Market Report
9 November 2010
                                                          Market Snapshots
                      TASI Intra-day Movement                                                     Market Commentary

                                                                              Tadawul drops due to extended profit taking on certain
                                                                              blue chips…

                                                                              The Saudi bourse closed down for the second straight day,
                                                                              albeit a mild drop, on extended profit taking on certain blue-
                                                                              chips. The Tadawul All Shares Index Monday dropped 0.1% to
                                                                              6,431.18, with SABIC and SAMBA weighing on the Index. The
                                                                              regional markets were mostly down with the exception of
                                                                              Muscat and Doha. The Asian stock markets, however, were
 Source: Tadawul Stock Exchange, Official Website                             firm, after a jump in the U.S. employment data reported last
                           Market Summary                                     week. China's benchmark Shanghai Index rose nearly 1% and
                    Index                                 Close               Japan's Nikkei Index advanced 1.1%. The European bourses,
 Value Traded (SAR)                                        3,342,958,884      however, was trading weak, on the Irish debt concerns till the
 Volume                                                     134,115,365       closing of trading in the Saudi Exchange. The market volume in
 Trades                                                             70,520
                                                                              Tadawul bourse on Monday remained on the higher side with a
 Symbols Traded                                                        145
                                                                              total of 134.12mn shares worth SAR3.34bn changing hands.
 Market Breadth                                                     43 : 74
Source: Tadawul Stock Exchange, Official Website                              The Banking Index slid 0.1%; the Sector Index being dragged
                         Indices Summary                                      by the heavyweight SAMBA, which shed 0.4%. The other large-
                                                Change      MTD       YTD
             Index                   Close                                    caps in the sector such as Al Rajhi and Alinma closed
                                                  %          %         %
 Tadawul All Share Index             6,431.18      -0.1     1.2         5.1   unchanged. The Tadawul bellwether SABIC extended profit
 Banks & Financial Services         16,425.86      -0.1     0.3         4.8   taking and fell by 0.5% to SAR102.50. The loss of SABIC was
 Petrochemical Industries            6,234.44      0.0      4.2        15.5   compensated by the gains posted by certain mid-caps in the
 Cement                              3,790.47      -0.3     -0.6       -3.2   Petrochemical Sector. SAFCO, Nama Chemicals and Sahara
 Retail                              4,856.39      0.4      -0.7       10.7   Petrochemical advanced 3.5%, 1.5% and 0.6% respectively.
 Energy & Utilities                  4,971.77      0.9      1.8        18.1
                                                                              The stocks of the partially state-owned enterprises enjoyed
 Agriculture & Food Ind.             5,466.54      -0.3     -1.2        9.1
                                                                              brisk buying and gave support to the otherwise fragile Market
 Telecom & IT                        1,879.43      0.2      1.0         4.9
                                                                              Index. Saudi Electricity, STC and MA’ADEN rose 1.1%, 0.1%
 Insurance                            894.13       0.2      1.1       -17.2
                                                                              and 1.5% respectively.
 Multi-Investment                    2,209.89      -0.7     1.0        -9.5
 Industrial Investment               5,096.78      0.5      1.1         8.3
 Building & Construction             2,985.05      -0.2     -1.7      -20.4
 Real Estate Development             2,670.22      -0.6     -2.4      -18.2
 Transport                           3,130.46      -1.5     -0.5       -7.9
 Media and Publishing                1,369.82      -0.3     -0.4      -27.7
 Hotel & Tourism                     4,770.37      0.0      1.2       -19.1
Source: Tadawul Stock Exchange, Official Website
                                                            Regional Market Statistics
                                                                                   Turnover
      Index                 Close            Change %        Volume (‘000)                     No. of Trades     MTD %           YTD %
                                                                                  (US$ ‘000)
 Abu Dhabi SM            2,751.00               -0.7               121,119         52,001          2,765          -2.3            0.3
 Dubai FM                1,693.30               -1.7               158,430         66,784          3,703          -4.0            -6.1
 Kuwait SE               7,050.30               -0.9               229,515        156,064          4,531          -0.2            0.6
 Doha SM                 7,967.56               0.1                  3,919         49,577          2,948           2.2           14.5
 Muscat SM               6,561.94               0.2                  7,852         13,319          1,234           0.1            3.0
 Bahrain SE              1,456.00               -0.5                 2,130          1,515              91         -0.4            -0.2
Source: Official websites of the Regional Stock Exchanges




                                                                              1
Saudi Stock Market Report
9 November 2010
                                                         Market Movers & Shakers
                                Top Gainers                                                                                  Top Losers
                                             Closing                                                                               Closing
                                                              Change       Volume                                                                      Change     Volume
             Company                           Price                                                    Company                      Price
                                                                %           (mn)                                                                         %         (mn)
                                              (SAR)                                                                                 (SAR)

ACIG                                           35.90            4.7          0.71          Saudi Advanced                              13.30              -3.3     4.13

Mouwasat                                       67.25            4.3          0.13          Dar Al Arkan                                 8.70              -2.3     4.54

SAFCO                                        154.75             3.5          0.97          Shipping                                    17.10              -2.0     0.96

Bupa Arabia                                    21.80            2.4          0.65          Zamil Industrial                            37.10              -1.6     0.97

Solidarity                                     14.00            2.2          2.99          Assir                                       12.95              -1.5     0.77

                              Volume Leaders                                                                            Value Leaders
                                             Closing                                                                               Closing                        Value
                                                              Change       Volume                                                                      Change
             Company                           Price                                                    Company                      Price                        (SAR
                                                                %           (mn)                                                                         %
                                              (SAR)                                                                                 (SAR)                          ‘mn)

Saudi Kayan                                    18.50           -0.3         24.83          SABIC                                       102.50             -0.5    631.83

Alinma                                         10.70            0.0         14.01          Saudi Kayan                                  18.50             -0.3    460.05

Saudi Electricity                              13.95            1.1          6.74          Alinma                                       10.70              0.0    149.50

SABIC                                        102.50            -0.5          6.12          SAFCO                                       154.75              3.5    148.97

MA’ADEN                                        23.10            1.5          4.61          Saudi Fisheries                              51.50              1.0    147.22

                                                                                           Stocks consistently gaining / losing over last three
                    52 Week New High / Low
                                                                                                       trading sessions (Top 6)
                                             Closing            New          New                                                       Current          3 Days 3 Days Avg.
             Company                           Price            High         Low                        Company                         Price           Change   Volume
                                              (SAR)            (SAR)        (SAR)                                                       (SAR)             %       (mn)
SAFCO                                        154.75           156.25                       Saudi Fisheries                              51.50              8.3      2.62

Tawuniya                                     106.50           108.25                       SAFCO                                       154.75              5.5      0.64

MMG                                           15.00                         15.00          MEDGULF                                      26.70              3.9      0.32

Dar Al Arkan                                       8.7                         8.7         Dar Al Arkan                                  8.70              -3.4     3.15

KEC                                               7.75                       7.65          SHAKER                                       57.75              -2.6     0.06

                                                                                           AL Babtain                                   29.00              -2.4     0.23

                Sector Turnover (SAR ’mn)                                                                         Sector Volume (mn)
                                     88.8329.42                                                                                 1.90 0.15
                                                  3.19                                                                  10.03
                           121.61                     23.50                                                                                     1.02
                      150.82                             297.09                                                     4.63
                                                                                                                  6.02                                 16.68
                                                                                   0.990.95
                    111.47                                                     3.63       0.56
                                                                             3.80             18.06           7.75
                    256.82
                                                                           5.22
                                                                                                33.18
                123.55
                                                                          31.13                               10.74
                                                                                             0.50                5.80                                    49.91
                                                              1,614.81       10.41         1.79
                    354.66                                                               1.07
                                                                                  7.212.92
                                                                                                                      9.75                  1.37
                             45.48           25.99                                                                              6.82     1.53
                                     95.72
                    Banks & Financial Services                           Petrochem ical Industries                    Cem ent
                    Retail                                               Energy & Utilities                           Agriculture & Food Industries
                    Telecom . & Inform ation Technology                  Insurance                                    Multi-Investm ent
                    Industrial Investm ent                               Building & Construction                      Real Estate Developm ent
                    Transport                                            Media and Publishing                         Hotel & Tourism
       Source: Data pertaining to all the tables and charts in this page are taken from Tadawul Stock Exchange, Official Website




                                                                                       2
      Saudi Stock Market Report
      9 November 2010
                                           Saudi Technical Watch                                                           R: Resistance
                                                                                                                           S: Support
                                                                                                                           PP: Pivot Point
    Technical Outlook                  Pivot Table

                                        Symbol            R2              R1              PP            S1            S2

The TASI’s movement Monday                TASI        6,473.20        6,452.19      6,438.96      6,417.95      6,404.72

was very much as that on
Sunday and was still trading
                                       Tadawul All Shares Index
within the zone of the Inside Bar
pattern, which was created on
Saturday.     The     Index   closed
above the 10 and 40 day
DEMAs as well as above the
125 day SMA. The MACD and
the CCI are giving a positive
signal.   Overall,     the    market
outlook remains positive. The
Saudi Index will get support at
6,418, 6,387 and 6,368 while it
will face resistance at 6,475,
6,495 and 6,510.




    Technical Outlook                  Pivot Table


                                       Symbol        R2           R1              PP            S1            S2

                                        SABIC    104.83          103.67          102.83        101.67        100.83

SABIC Monday saw a minor
cooling off and closed marginally
                                       Saudi Basic Industries Corp.
below the 10 DEMA value. The
MACD and the CCI are in a
positive mode. The long-term
outlook remains positive. In the
short-term,     the       stock   is
overbought with the RSI and the
Stochastics in an overbought
zone. Investors may sell the
stock, with a stop loss of 104.00,
for a target of 100.00.




                                                                  3
      Saudi Stock Market Report
      9 November 2010
                                          Saudi Technical Watch

    Technical Outlook                 Pivot Table

                                        Symbol            R2             R1            PP            S1            S2

                                          STC            40.13         40.07         39.93         39.87         39.73


                                      Saudi Telecom Co.
STC is taking support at the 40
day DEMA (39.80). The MACD
and the CCI are in a negative
mode. The stock closed below
10 and 20 day DEMAs, which is
a negative signal. Investors may
sell the stock, with a stop loss of
40.15, for a target of 39.50 and
39.10.




    Technical Outlook                 Pivot Table


                                      Symbol        R2            R1            PP            S1            S2

                                      Al Rajhi   79.42           78.83         78.42         77.83         77.42



Al Rajhi Monday touched an
                                      Al Rajhi Bank
intra-day low of 78.00. The stock
closed above the 10 day DEMA
as well as above the 125 day
SMA. The MACD and the CCI
are giving a positive signal. The
outlook is positive. Investors
may accumulate the stock, with
a strict stop loss of 78.00 (on a
closing basis), for a target of
79.50 and 81.00.




                                                                  4
      Saudi Stock Market Report
      9 November 2010
                                            Saudi Technical Watch

    Technical Outlook                   Pivot Table

                                          Symbol            R2             R1            PP            S1            S2

                                          SECO             14.18         14.07         13.98         13.87         13.78


                                        Saudi Electricity Co.
Saudi Electricity Monday closed
below our suggested first target
of 14.20 and closed below
14.00.   However,     the       stock
closed above the 20 day DEMA
(13.85), which is a short-term
positive signal. The CCI and the
Stochastics are in a positive
mode. Traders may remain long,
with a trailing stop loss of 13.80,
for a target of 14.20 and 14.60.




    Technical Outlook                   Pivot Table


                                        Symbol        R2            R1            PP            S1            S2

                                        MA’ADEN    23.43           23.27         22.98         22.82         22.53



MA’ADEN       Monday      hit     our
                                        Saudi Arabian Mining Co.
suggested first target of 23.15
and closed below it. After a long
time, the stock closed above the
40 day DEMA (23.06). The
MACD has triggered with its
signal line, indicating a positive
signal. Investors may buy the
stock, with a stop loss of 22.70,
for a target of 23.60, 23.85 and
24.10.




                                                                    5
        Saudi Stock Market Report
        9 November 2010
                                           GCC Technical Watch

    Technical Outlook                 Pivot Table

                                       Symbol              R2            R1            PP            S1            S2

                                        EMAAR              3.77          3.71          3.67          3.61          3.57
EMAAR hit our suggested first
target of 3.66 and closed below
                                      Emaar Properties (Dubai Financial Market)
it. The stock closed below the
major support level of 3.71 (the
100 day DEMA). The MACD is
giving a negative signal. The
CCI is in a partially oversold
zone. The short-term outlook is
still negative as the stock closed
below the 20 day DEMA (3.79).
At the current level, traders may
sell the stock, with a stop loss of
3.71, for a short-term target of
3.58.




    Technical Outlook                 Pivot Table


                                      Symbol        R2            R1            PP            S1            S2

                                       ARTC         2.03          1.97          1.93          1.87          1.83



ARTC        Monday      hit    our
                                      Arabtec Holding (Dubai Financial Market)
suggested targets and closed
below that level. The stock is
now in an oversold zone. The
RSI,     the   CCI      and    the
Stochastics are in an oversold
zone. Investors may accumulate
the stock at every dip, for a
short-term target of 1.99, 2.10
and 2.21.




                                                                  6
       Saudi Stock Market Report
       9 November 2010
                                           GCC Technical Watch

    Technical Outlook                 Pivot Table

                                       Symbol            R2              R1            PP            S1            S2

                                         Dana            0.79         0.78          0.77          0.76          0.75


                                      Dana Gas PJSC (Abu Dhabi Securities Market)
DANA       Monday       hit    our
suggested first target of 0.76
and closed marginally above it.
The stock found support at the
125 day SMA (0.76). The CCI is
in a partially oversold zone and
the RSI is nearing the oversold
zone. The MACD is still in a
negative mode. Investors may
buy the stock around 0.76 to
0.75, for a short-term target of
0.80 and 0.81.




    Technical Outlook                 Pivot Table


                                      Symbol        R2           R1            PP            S1            S2

                                       IQCD     126.20          125.50        124.60        123.90        123.00


                                      Industries of Qatar (Doha Securities Market)


IQCD is still trading above the
10 day DEMA (122.20). The
stock is highly overbought. The
RSI,    the      CCI    and    the
Stochastics       are    in     an
overbought zone. It is still better
to avoid the stock for some time.




                                                                 7
     Saudi Stock Market Report
     9 November 2010
                                          GCC Technical Watch

    Technical Outlook                Pivot Table

                                      Symbol        R2          R1     PP       S1      S2

                                        KFIN       1,213       1,207   1,193   1,187   1,173


                                     Kuwait Finance House (Kuwait Stock Exchange)
KFIN is still trading above its
major support level of 1,189,
which is the 100 day DEMA.
The MACD and the CCI are in a
negative mode. Investors may
remain overweight, as the stock
is above its support level, with a
strict stop loss of 1,180 (on a
closing basis), for a target of
1240, 1,260 and 1,280.




                                                           8
Saudi Stock Market Report
9 November 2010

    Corporate News & Announcements


       Zain Saudi Arabia Monday confirmed that the Board of Directors of Mobile Telecommunications Company
       KSC-Zain met on November 7, 2010 to discuss the request of Al-Khair National for Stocks and Real Estate
       Co., which has a large Zain shareholding, to approve and allow Etisalat to commence a process of due
       diligence with a view to acquiring the latter's and other associated parties' equity in the company, reported
       KUNA.




                                                           9
Saudi Stock Market Report
9 November 2010
                                                                  Tadawul Market Performance & Valuation Table
                          Current   Change     MTD       YTD      52-Week          Volume      Value             Dividend            EPS      Free      Market Cap    Price/                ROA    ROE
            Company                                                                                       Beta               PE                                                P/B   P/CF
                           Price      (%)       %         %        Range            (‘000)   (SAR ‘000)          Yield (%)          (SAR)   Float (%)   (SAR ‘mn)    Revenue                (%)    (%)

 RIBL                      26.70      -0.4         0.8    -0.7     31.20 - 23.40      549       14,705    0.86      4.9      13.5    1.98      48.7        40,050       8.0    1.4   12.2    1.8   11.0

 BJAZ                      16.35      -0.3         0.6   -14.6     21.25 - 15.50      119        1,939    1.00      0.0      N/A     N/A       67.8         4,905       5.7    1.1   17.3   -0.6   -3.6

 SIBC                      21.90       0.0         0.9   21.7      22.50 - 17.55       37         805     0.83      0.0      N/A     N/A       53.7         9,855       6.0    1.2   16.7    0.2    1.0

 Saudi Hollandi            30.30       0.0     -1.3       1.0      35.70 - 29.20       64        1,926    0.78      0.0      79.3    0.38      29.3        10,022       5.5    1.6   11.0    0.3    3.1

 Saudi Fransi              45.60      -0.4     -2.1      12.0      49.10 - 40.00      104        4,775    0.96      2.2      13.7    3.34      54.7        32,979       9.3    1.9   11.7    2.0   13.6

 SABB                      41.70       0.0     -0.7       -3.9     53.00 - 40.00      136        5,653    0.82      2.1      20.7    2.02      32.9        31,275       6.0    2.4   11.3    1.4   11.7

 Arab National             37.50       0.3         1.9   -11.6     47.40 - 36.10       95        3,518    1.07      2.7      12.8    2.93      49.1        24,375       6.8    1.6    9.1    2.1   14.5

 SAMBA                     61.50      -0.4     -0.4      21.8      64.75 - 48.30      315       19,471    0.91      2.7      12.7    4.85      50.6        55,350       9.8    2.3   11.8    2.4   18.2

 Al Rajhi                  78.25       0.0         1.3    9.8      86.50 - 69.00     1,192      93,666    1.12      3.5      17.9    4.38      49.5       117,375      10.2    4.0   16.7    3.6   22.7

 AL Bilad                  18.40      -0.3     -0.5      -12.0     22.40 - 17.90       62        1,135    0.73      0.0      N/A     N/A       77.2         5,520       5.3    1.8   36.9   -1.1   -6.9

 Alinma                    10.70       0.0     -0.5      -15.7     13.70 - 10.65    14,013     149,499    0.65      0.0      N/A     N/A       69.9        16,050      27.1    1.0    N/A   -0.2   -0.3

 CHEMANOL                  14.70      -0.3         1.7    -4.5     17.15 - 12.75     2,798      41,372    1.24      0.0      N/A     N/A       50.0         1,773       3.6    1.3   35.4    0.2    0.5

 Petrochem                 19.70      -0.5         4.2   26.7      20.10 - 13.65     1,354      26,792    1.79      0.0      N/A     N/A       17.5         9,456       N/A    2.0    N/A   -0.6   -2.2

 SABIC                    102.50      -0.5         5.1   24.2     108.25 - 76.75     6,121     631,826    1.42      1.5      15.1    6.79      22.6       307,500       2.2    2.7   16.2    6.4   17.7

 SAFCO                    154.75       3.5         6.5   27.9    156.25 - 113.50      967      148,966    1.03      7.8      15.2   10.18      37.3        38,688      12.7    7.1   18.3   31.1   47.7

 Industrialization         32.30      -0.6         3.5   14.9      33.30 - 21.90     1,606      52,099    1.23      2.1      12.5    2.58      79.9        14,880       0.9    1.7   10.1    3.8   15.0

 Alujain                   18.80      -1.1     -1.8       9.6      19.85 - 11.65      878       16,656    1.21      0.0      N/A     N/A       85.1         1,301       4.2    2.6    N/A    0.1    1.0

 Nama Chemicals            10.05       1.5         0.5    -6.9      11.75 - 9.00     4,068      40,722    1.11      0.0      66.1    0.15     100.0         1,292       2.4    0.8    N/A    1.3    2.0

 SIIG                      19.40       0.0         3.2   -10.8     25.30 - 16.40      749       14,531    1.27      2.6      24.2    0.80      88.5         8,730       1.9    1.6   17.9    1.5    6.2

 Sahara Petrochemical      23.50       0.6         0.6   11.1      28.00 - 17.80     1,341      31,586    1.29      0.0      20.4    1.15      90.0         6,874       N/A    1.9   85.1    5.2    9.2

 YANSAB                    44.20      -0.9         4.5   32.3      50.00 - 28.60     1,182      52,537    1.33      0.0      22.4    1.97      39.7        24,863       N/A    3.7    N/A    4.8   16.4

 Sipchem                   25.70       0.0         0.4    7.8      27.10 - 18.65      863       22,131    1.23      3.9      27.7    0.93      82.1         8,567       5.8    1.5    N/A    2.6    5.4

 Advanced                  26.40      -0.8         2.3    6.0      27.20 - 16.60      995       26,286    1.28      3.8      13.9    1.89      95.7         3,732       2.0    2.2   12.0    7.7   15.5

 Saudi Kayan               18.50      -0.3         4.5    1.6      22.90 - 15.50    24,830     460,050    1.39      0.0      N/A     N/A       41.1        27,750       N/A    1.8    N/A    0.0   -0.1

 Petro Rabigh              22.80       0.2         1.1   -35.8     38.20 - 20.70     2,160      49,262    1.53      0.0      N/A     N/A       17.4        19,973       0.5    2.5    N/A   -0.4   -2.1

 Arab Cement               35.50      -0.6     -1.1      -18.4     45.00 - 32.40       48        1,720    0.74      3.5      18.1    1.97      71.2         2,840       3.8    1.1   10.1    3.8    6.3

 Yamamah Cement            51.25      -0.5     -1.4       8.1      54.50 - 44.20       11         550     0.76      5.9      10.8    4.76      87.4         6,919       5.5    2.3    9.2   18.5   21.5
Source: Tadawul Stock Exchange, Official Website




                                                                                                    10
Saudi Stock Market Report
9 November 2010
                                                                    Tadawul Market Performance & Valuation Table
                          Current   Change     MTD       YTD       52-Week         Volume      Value             Dividend            EPS      Free      Market Cap    Price/                ROA     ROE
            Company                                                                                       Beta               PE                                                P/B   P/CF
                           Price      (%)       %         %         Range           (‘000)   (SAR ‘000)          Yield (%)          (SAR)   Float (%)   (SAR ‘mn)    Revenue                (%)     (%)

 Saudi Cement              43.80      -0.2     -0.5      -23.8     53.00 - 34.67      26        1,129     0.83      5.3      10.4    4.23      86.4        4,468       3.0     1.4    5.6   14.0    20.3

 Qassim Cement             61.25      -0.4         0.0   -11.9     79.00 - 59.00      28        1,728     0.73      9.8       9.8    6.24      51.3        5,513       5.7     3.2    7.8   27.8    32.6

 Southern Cement           63.25       0.0     -0.8       -5.6     81.00 - 61.50      83        5,210     0.60      7.9      13.1    4.82      44.2        8,855       6.8     3.6   N/A    24.1    27.1

 Yanbu Cement              41.00       0.0         2.2   -15.5     52.25 - 39.60       5         193      0.66      7.3      10.4    3.93      52.5        4,305       4.9     1.8    7.4   10.9    16.9

 Eastern Cement            42.00      -0.2     -2.1      -15.7     53.50 - 40.00      37        1,552     0.59      7.1      11.7    3.61      68.1        3,612       4.5     1.8    8.5   13.8    15.4

 Tabuk Cement              18.25       0.0         0.6    -5.7     20.10 - 17.00      15         277      0.63      6.8      13.1    1.39      94.7        1,643       5.9     1.5    9.3   10.1    11.7

 Joufcmnt                  12.20       0.0     -1.2       N/A      13.85 - 11.30    1,122      13,629     0.00      0.0      20.8    0.59      50.0        1,586       N/A     1.3   N/A     -0.7    -1.0

 A.Othaim Market           70.00      -0.7     -0.4      37.9      83.25 - 49.30      31        2,190     1.04      3.6      12.6    5.57      51.0        1,575       0.5     4.0   12.9    8.8    31.7

 Mouwasat                  67.25       4.3         3.1    9.8      77.75 - 53.50     130        8,715     0.77      1.5      14.6    4.59      30.0        1,681       3.4     3.7   11.9   13.3    19.9

 SASCO                     12.85      -1.2         0.4    -4.1     14.50 - 11.50     132        1,709     0.85      0.0      14.1    0.91     100.0          578       2.8     1.1   N/A     7.2     8.0

 Thim'ar                   24.30      -0.6         7.5   -43.2     45.40 - 19.10     799       19,570     0.93      0.0      N/A     N/A      100.0          243       2.7     3.9   N/A    -10.1   -14.4

 Fitaihi Group             11.65      -0.4         0.0   -21.3     18.30 - 11.20     259        3,028     0.92      0.0      39.4    0.30      79.5          583       3.8     0.9   29.3    2.1     2.3

 Jarir                    153.00       0.5     -1.6      14.4    166.75 - 128.75      23        3,446     0.57      4.8      15.3   10.01      87.9        6,120       2.1     7.9   15.6   29.4    51.8

 Aldrees                   46.50       0.0     -2.3      23.0      48.90 - 33.10      14         632      0.87      3.2      13.7    3.40     100.0        1,163       0.8     3.1   10.8   11.4    22.7

 AlHokair                  43.10       0.0     -0.2      16.8      50.50 - 34.10     115        4,957     1.07      4.6      10.2    4.24      51.0        3,017       1.3     2.5   10.1   14.2    24.5

 Alkhaleej Trng            40.00      -1.2         0.8    -2.2     49.30 - 33.40      31        1,233     0.95      1.3      11.8    3.40      41.3          600       1.6     2.5    9.5   11.0    20.9

 Gas&Industrialization     18.30      -0.8     -2.1      -21.8     23.90 - 18.00      75        1,381     0.79      2.7      N/A     N/A       68.2        1,373       0.9     1.3    9.6    6.7     9.2

 Saudi Electricity         13.95       1.1         2.2   24.0      15.60 - 10.50    6,741      94,337     0.52      5.0      27.7    0.50      17.2       58,124       2.2     1.1    6.7    1.1     4.1

 SAVOLA Group              31.70      -1.3     -3.6       5.0      38.30 - 27.50     643       20,656     0.94      3.2      13.7    2.31      73.9       15,850       0.8     2.2    9.6    6.3    15.9

 Food                      16.00      -0.6         1.6   -19.8     22.30 - 15.00     296        4,740     1.08      0.0      18.9    0.85     100.0          320       4.3     1.6   25.5    8.1     8.7

 SADAFCO                   39.70       0.5         3.9    -5.9     55.25 - 33.50     697       27,963     0.93      7.6       6.2    6.44      58.2        1,290       1.2     1.9   10.3   22.3    31.1

 Almarai                  215.75       0.6     -0.3      30.8    221.25 - 153.50      82       17,750     0.76      1.9      19.8   10.87      44.8       24,811       3.7     4.2   15.5   10.2    21.3

 Anaam Holding             44.00      -0.5     11.1      -26.7     84.50 - 34.60     591       26,309     1.05      0.0      N/A     N/A      100.0          480       4.8     4.0   N/A     0.4     0.9

 HB                        38.30       1.3     -2.5      20.8      45.60 - 30.10     533       20,464     0.94      2.6      15.4    2.50      44.5        1,094       1.6     2.2   17.2   11.6    14.8

 HERFY                     77.00      -0.3     -1.9       N/A      63.25 - 51.00       5         391      0.58      2.9      17.2    0.00      30.0        2,079       N/A     6.0   N/A    18.9    26.3

 NADEC                     24.90      -0.4     -2.0      -26.1     38.00 - 23.50     157        3,905     0.78      0.0      N/A     N/A       48.8        1,494       1.1     1.5    9.4    -0.8    -1.9

 Qassim Agriculture         8.70      -0.6         3.0   -15.5      11.35 - 7.90    1,732      15,168     0.89      0.0      N/A     N/A      100.0          435       6.1     1.1   53.1    -2.5    -3.5

 Tabuk Agriculture         17.00      -0.3     -0.6      -36.3     29.00 - 16.35     202        3,441     0.95      2.9      N/A     N/A       72.5          340       2.6     0.9   10.2    0.7     0.8

Source: Tadawul Stock Exchange, Official Website




                                                                                                    11
Saudi Stock Market Report
9 November 2010
                                                                 Tadawul Market Performance & Valuation Table
                         Current   Change     MTD      YTD      52-Week        Volume      Value                Dividend            EPS      Free      Market Cap    Price/                 ROA     ROE
            Company                                                                                      Beta                PE                                               P/B    P/CF
                          Price      (%)       %        %        Range          (‘000)   (SAR ‘000)             Yield (%)          (SAR)   Float (%)   (SAR ‘mn)    Revenue                 (%)     (%)

 Saudi Fisheries          51.50      1.0       19.8    -1.9    69.75 - 37.20    2,827     147,220        1.01      0.0      N/A     N/A      38.5        1,030        10.1     8.9   N/A    -16.9   -27.6

 Sharqiya Dev Co          35.20      0.0        3.5    -7.1    46.70 - 32.30    1,651      58,834        0.96      0.0      N/A     N/A     100.0          264         8.1     3.2   N/A     -4.4    -5.9

 Jouff Agriculture        31.30      -1.0       1.6   -13.3    39.60 - 26.90      190       5,917        0.83      6.4       9.8   3.18      95.2          626         2.5     1.2    5.9   10.9    11.9

 Bishah Agriculture       77.50      0.0        0.0    0.0     77.50 - 77.50        0          0         0.00      0.0      16.0   4.84     100.0          388        N/A      6.9   N/A     N/A     N/A

 Jazan Development        13.40      -0.4      -1.8    -0.4    16.05 - 11.85      142       1,904        0.90      0.0      N/A     N/A      98.8          670         9.3     1.1   54.6    -4.5    -5.0

 STC                      40.00      0.3        0.0    -9.3    48.30 - 34.00      669      26,701        0.76      7.5       7.9   5.07      16.3       80,000         1.6     1.5    4.3    9.1    18.9

 Etihad Etisalat          55.00      0.5        1.9   26.7     56.50 - 40.50    1,175      64,633        0.86      2.3      10.1   5.43      58.5       38,500         2.6     2.7    8.3   10.9    26.9

 ZAIN KSA                  7.85      -0.6       0.0   -22.7     10.75 - 7.75    3,800      29,835        0.75      0.0      N/A     N/A      45.0       10,990         2.2     1.7   N/A     -8.9   -37.9

 Atheeb Telecom           14.90      -0.7      -2.9    -7.7    18.40 - 13.90      159       2,377        0.55      0.0      N/A     N/A      35.0        1,490        N/A     N/A    N/A     -6.9   -34.9

 Tawuniya                106.50      -0.5       3.4   48.4    108.25 - 57.75      115      12,287        1.06      3.8      10.7   9.93      53.4        5,325         1.9     3.3   17.3    6.8    30.4

 Malath Insurance         16.15      -0.6      -0.3   -38.6    31.40 - 15.05      373       6,041        1.15      0.0      28.3   0.57      47.5          485         1.8     1.9   51.9    1.3     4.7

 MEDGULF                  26.70      1.5        2.7    9.0     34.50 - 21.10      545      14,531        0.88      2.8      10.6   2.51      25.0        2,136         1.2     2.2   N/A     4.9    20.3

 ALLIANZSF                21.80      -0.5      -0.7   -72.6    57.75 - 21.05       58       1,266        1.08      0.0      N/A     N/A      31.0          218         1.1     1.4   N/A     -2.8   -11.1

 SALAMA                   29.70      0.0        0.0   -43.4    67.50 - 27.70      210       6,269        1.22      0.0      70.7   0.42      40.0          297         1.8     3.7   22.4    1.2     4.0

 Walaa Insurance          17.65      -0.3      -0.8   -34.1    32.20 - 16.55      115       2,049        0.85      0.0      N/A     N/A      40.0          353         3.3     2.3   N/A     -0.5    -1.3

 Arabian Shield           20.60      0.5        0.5   -24.8    34.50 - 18.50      158       3,235        0.94      0.0      45.0   0.46      40.0          412         2.9     1.9   N/A     2.0     4.3

 SABB Takaful             17.85      0.3       -2.5   -46.9    39.50 - 17.40      139       2,486        0.84      0.0      N/A     N/A      35.0          607         4.5     1.9   N/A     -1.4    -3.7

 SANAD                    17.65      -0.3       0.3   -35.3    32.60 - 17.00      116       2,052        0.87      0.0      N/A     N/A      40.0          353         1.9     2.5   N/A     3.0     8.7

 SAICO                    30.90      0.7       -1.6   -55.9    86.00 - 29.00      203       6,305        1.22      0.0      36.9   0.84      40.0          309         1.7     3.4   N/A     1.5     9.2

 Saudi Indian             29.70      -0.3      -0.7   -43.4    70.25 - 26.90      181       5,427        1.22      0.0      N/A     N/A      40.0          297         6.2     7.3   N/A     -8.8   -38.1

 Gulf Union               18.15      0.0        0.3   -36.5    33.10 - 17.70       82       1,489        0.84      0.0      N/A     N/A      40.0          399         3.3     1.9   N/A     0.6     2.1

 ATC                      72.50      0.0       -2.4   -26.8   127.75 - 68.75       55       4,005        0.74      0.0      N/A     N/A      26.5          725       308.2    10.6   N/A     -0.6    -2.5

 Al-Ahlia                 53.00      0.0       -5.4   -30.0   110.00 - 45.90      112       5,919        0.60      0.0      N/A     N/A      40.0          530         4.3    12.0   N/A     1.6    10.2

 ACIG                     35.90      4.7       -0.3   -33.5    71.00 - 28.20      707      25,557        1.19      0.0      N/A     N/A      40.0          359        32.0     9.7   N/A     -6.5   -17.5

 AICC                     18.05      0.8        1.1   -35.3    32.40 - 16.90      185       3,350        1.25      0.0      N/A     N/A      40.0          361        N/A      2.5   N/A     -3.0    -4.1

 Trade Union              17.05      -0.6      -0.9   -29.1    34.90 - 15.55      431       7,430        0.87      0.0      N/A     N/A      42.0          426        N/A      1.8   N/A     -0.6    -0.7

 Sagr Insurance           20.00      0.0       -1.5   -62.6    79.00 - 19.90      181       3,615        1.07      0.0      N/A     N/A      42.0          400         4.5     1.9   N/A     1.3     3.1

 UCA                      22.80      0.4       -1.9   -30.9    44.40 - 22.60      160       3,652        1.03      0.0      N/A     N/A      40.0          456        N/A      2.6   N/A     0.2     0.2

 Saudi Re                  8.65      0.0       -0.6   -25.8     13.75 - 8.60       82        708         0.84      0.0      N/A     N/A      40.0          865        25.2     0.9   N/A     -0.5    -0.6

 Bupa Arabia              21.80      2.4        2.3   -13.8    32.60 - 17.55      649      14,094        0.99      0.0      12.8   1.71      40.0          872         0.6     1.8   N/A     4.1    14.5
Source: Tadawul Stock Exchange, Official Website


                                                                                                    12
Saudi Stock Market Report
9 November 2010
                                                              Tadawul Market Performance & Valuation Table
                        Current   Change      MTD    YTD      52-Week        Volume      Value                Dividend            EPS      Free      Market Cap    Price/                ROA    ROE
           Company                                                                                     Beta               PE                                                P/B   P/CF
                         Price      (%)        %      %        Range          (‘000)   (SAR ‘000)             Yield (%)          (SAR)   Float (%)   (SAR ‘mn)    Revenue                (%)    (%)

 Weqaya Takaful          18.85      -0.5      -1.8   -62.1   54.75 - 17.50     207        3,923        0.56      0.0      N/A     N/A       40.0         377       1332.2   2.3    N/A   -8.9   -10.1

 ARCCI                   35.20      0.6       -1.4   -45.4   75.00 - 33.20      44        1,557        0.78      0.0      N/A     N/A       30.0         704         13.2   4.3    N/A   -5.4   -11.5

 ACE                     33.00      -0.3      -0.9   -40.0   67.50 - 31.30      98        3,270        1.31      0.0      N/A     N/A       40.0         330         N/A    3.7    N/A   -0.9    -0.9

 AXA-Cooperative         19.05      0.3       -0.8   -37.9   37.50 - 17.50     115        2,193        0.58      0.0      N/A     N/A       40.0         381          6.2   2.1    N/A   -2.6    -7.1

 Gulf General            44.10      0.0        7.0    N/A    29.00 - 10.00     544       23,899        0.49      0.0      N/A     N/A       40.0         882         N/A    N/A    N/A   N/A     N/A

 Buruj                   28.30      1.1       -1.7    N/A    42.00 - 10.00     272        7,710        1.18      0.0      N/A     N/A       40.0         368         N/A    N/A    N/A   N/A     N/A

 ALALAMIYA               26.30      0.8       -0.8   -24.9   43.00 - 22.70     176        4,660        1.36      0.0      N/A     N/A       30.0         526         N/A    N/A    N/A   N/A     N/A

 Solidarity              14.00      2.2        2.9    N/A    13.25 - 12.10    2,988      41,595        1.47      0.0      N/A     N/A       40.0         777         N/A    N/A    N/A   N/A     N/A

 WATANiYA                47.80      1.9        1.3    N/A    57.25 - 42.30     468       22,356        1.31      0.0      N/A     N/A       30.0         478         N/A    N/A    N/A   N/A     N/A

 AMANAINSURANCE          14.35      0.7       -1.7    N/A    16.60 - 13.25     969       13,888        0.90      0.0      N/A     N/A       40.0         459         N/A    N/A    N/A   N/A     N/A

 SARCO                   35.50      1.7        3.2   -28.7   57.75 - 33.00     542       19,319        1.04      1.4      44.1   0.80      100.0         533         N/A    1.6    N/A    3.4    3.5

 Saudi Advanced          13.30      -3.3       8.6    -5.0   15.05 - 11.25    4,132      55,623        0.96      0.0      33.9   0.39       89.3         575         26.8   0.7   16.3    2.2    2.2

 Al Ahsa for Dev.         9.80      -1.5      -1.0    -9.3    15.25 - 9.50     463        4,569        1.00      0.0      N/A     N/A      100.0         480         28.6   1.1   64.6    0.7    1.0

 SISCO                   15.30      -0.7      -1.6    3.0    17.60 - 11.95     564        8,664        0.97      0.0      N/A     N/A       83.1        1,040         4.6   1.4   38.4    0.2    0.8

 Assir                   12.95      -1.5       1.2   -14.8   17.15 - 12.60     771       10,061        1.08      5.8      17.9   0.73       50.1        1,637         0.9   0.7   12.2    2.7    4.0

 Al Baha                 12.65      -1.2       0.8   -29.7   23.40 - 11.70     647        8,272        1.01      0.0      N/A     N/A      100.0         190       1256.6   2.0    N/A   -7.0    -8.7

 Kingdom                  7.85      0.0        0.0   67.0     13.43 - 7.45     630        4,958        0.55      0.0      55.3   0.14        5.0       49,455        15.1   1.9   59.3    1.3    2.1

 BCI                     28.60      -1.0      -1.0    -5.3   33.70 - 25.70      52        1,505        1.06      5.2      11.3   2.53       78.6         787          1.5   2.1    9.9   10.7   17.3

 MAADEN                  23.10      1.5        2.0   33.5    23.75 - 15.80    4,613     106,078        1.48      0.0      55.4   0.42       36.1       21,368        33.2   1.3   42.9    1.2    2.4

 Astra Indust            39.20      -0.5      -4.4   11.0    43.30 - 31.10      90        3,539        0.82      3.2      11.6   3.37       31.1        2,905         2.9   1.9    N/A    8.9   15.2

 AlSorayai Group         22.25      -0.2      -2.8    N/A    36.50 - 22.00      94        2,095        1.03      0.0       9.5   2.34       30.0         668          1.0   1.6    N/A    4.6   11.6

 SHAKER                  57.75      -0.9      -1.3    N/A    71.00 - 48.40      30        1,732        0.96      0.0      14.9   3.88       30.0        2,021        N/A    N/A    N/A    9.8   17.7

 Pharmaceutical          32.70      0.0        5.5    8.6    37.60 - 27.50      54        1,783        1.20      3.5      15.6   2.10       65.0        2,565         2.5   1.0   13.9    5.3    6.3

 Glass                   24.35      -0.4      -1.4   -20.2   27.08 - 19.30      81        1,967        0.97      1.7      11.9   2.04       76.6         609          5.5   1.2   10.3   11.1   12.3

 FIPCO                   26.60      -0.8      -1.5   -36.2   45.70 - 24.80     175        4,678        0.97      0.0      15.5   1.72       85.3         306          1.8   2.2    N/A   10.9   14.0

 Maadaniyah              20.20      -1.5       4.9   -20.2   27.40 - 18.20     155        3,163        1.01      2.5      20.6   0.98       64.5         516          1.6   1.5   16.3    4.9    7.1

 Saudi Chemical          42.70      0.2        1.7    3.1    49.50 - 38.00     228        9,728        0.90      9.4       9.6   4.43       97.0        2,700         1.7   2.0    8.6   12.5   20.6

 SPM                     49.20      -1.0      -2.6    -8.9   60.50 - 49.00     128        6,303        0.93      2.5      12.4   3.98       49.9        1,476         1.9   2.6    N/A    8.3   21.1

 AlAbdullatif            31.50      0.0        1.3   -23.9   46.40 - 27.50      60        1,898        0.27     11.1      16.0   1.97       30.0        2,559         2.2   2.1    9.7   10.7   13.1

 Saudi Export            24.15      0.8        2.5   -33.5   42.50 - 21.95     264        6,351        1.06      0.0      N/A     N/A      100.0         261          1.9   2.5    N/A   -2.4    -2.7

Source: Tadawul Stock Exchange, Official Website

                                                                                                  13
Saudi Stock Market Report
9 November 2010
                                                                 Tadawul Market Performance & Valuation Table
                         Current   Change     MTD     YTD       52-Week         Volume      Value             Dividend            EPS      Free      Market Cap    Price/                ROA    ROE
            Company                                                                                    Beta               PE                                                P/B   P/CF
                          Price      (%)       %       %         Range           (‘000)   (SAR ‘000)          Yield (%)          (SAR)   Float (%)   (SAR ‘mn)    Revenue                (%)    (%)

 MMG                      15.00      -0.7      -4.2   -37.5     27.30 - 15.00     589        8,878     1.01      5.0      41.5   0.36      46.2        1,875         1.2    1.1    9.3    1.5     2.5
 SSP                      20.05      -0.5      -5.4   -41.2     36.50 - 18.75     127        2,556     1.10     10.0      15.8   1.27      31.4        1,023         1.9    1.3    N/A    7.0     8.0
 ALKHODARI                47.40      -1.0      2.6     N/A      49.70 - 42.70     443       21,085     0.00      0.0      N/A     N/A      30.0        2,015         4.4    3.9    N/A    5.8    17.4

 Ceramic                 138.75      0.7       -0.2   23.6    147.50 - 110.00      32        4,435     0.88      2.2      16.2   8.54      63.6        3,469         3.7    4.3   12.3   10.9    22.6

 Gypsum                   28.00      0.4       -0.7   -26.9     43.30 - 27.00      22         623      0.93      8.9      15.6   1.80      53.9          887         5.5    1.7    8.0    9.8    11.0

 Cables                   12.50      -0.8      -3.1   -49.0     28.10 - 12.25     660        8,282     1.14      6.0      N/A     N/A      81.2          950         0.5    0.8    4.7   -3.1    -9.1

 Saudi Industrial          8.70      0.0       2.4     -4.9       9.90 - 8.00     155        1,347     0.96      0.0       3.4   2.57     100.0          348         1.5    1.1   41.5   20.8    32.0

 Amiantit                 17.15      0.6       0.9    -25.6     25.30 - 15.70     707       12,174     1.12      5.8      11.0   1.55      87.5        1,981         0.6    1.2    3.8    4.4    10.9

 Pipes                    21.95      0.2       -4.6   -27.6     36.80 - 21.60     309        6,832     1.06      0.0      N/A     N/A      85.8          691         2.2    0.9   11.9    0.4     0.7

 Zamil Industrial         37.10      -1.6      -4.6   -33.5     55.25 - 37.00     968       36,247     1.09      3.0      10.4   3.56      75.6        1,670         0.4    1.4    4.7    4.6    17.3

 AL Babtain               29.00      -0.7      -2.7   -15.9     43.40 - 28.00     169        4,921     1.00      5.2      11.9   2.44     100.0        1,175         1.2    2.0    8.1    7.8    16.6

 SVCP                     56.25      0.5       2.3    36.5      69.00 - 39.50      44        2,479     0.82      4.0      10.7   5.26      56.0          844         3.5    3.5    N/A   16.8    32.8

 MESC                     15.80      -0.9      -0.9   -55.1     39.20 - 15.60     230        3,650     0.98      6.3      N/A     N/A      48.0          632         0.6    1.1    7.3   -0.9    -2.4

 Red Sea                  47.80      -1.2      1.7    -22.0     66.00 - 36.50     169        8,105     1.03      4.2      24.3   1.97      30.0        1,434         2.0    2.1    8.4    6.1     8.8

 Real Estate              25.50      1.2       2.4     -1.2     29.90 - 21.00     162        4,087     0.99      2.9      35.2   0.72      30.6        3,060        15.5    1.0   27.5    2.6     2.8

 Taiba                    14.95      -0.3      -0.7   -11.0     17.50 - 14.55      67        1,005     0.79      8.0      31.0   0.48      69.0        2,243         9.9    0.8   21.5    2.1     2.6

 Makkah                   30.10      0.3       -1.6   11.9      31.40 - 26.00     134        4,048     0.75      5.0      21.6   1.21      83.5        4,961        15.2    1.3   21.3    6.6     7.0

 Arriyadh Development     14.70      0.3       -1.0   22.5      15.95 - 11.80      53         779      0.92      5.1      15.7   0.94      99.9        1,470         9.3    1.0   13.3    5.9     6.5

 Emaar E .C                6.95      -0.7      -2.1   -27.6      11.10 - 6.90    3,496      24,361     1.10      0.0      N/A     N/A      30.0        5,908        19.8    0.7    N/A   -4.9    -6.0

 Jabal Omar               16.30      -0.3      -4.4   -13.5     21.60 - 15.80     299        4,890     0.52      0.0      N/A     N/A      27.0       10,944        N/A     1.7    N/A   -0.4    -0.4

 Dar Al Arkan              8.70      -2.3      -2.8   -38.1      16.35 - 8.70    4,535      39,741     0.61     11.5       5.9   1.47      61.5        9,396         2.1    0.7    4.3    6.9    11.2

 KEC                       7.75      0.0       -1.9    N/A       11.05 - 7.65    1,283       9,915     0.00      0.0      N/A     N/A      30.1        2,630        N/A     N/A    N/A   N/A     N/A

 Shipping                 17.10      -2.0      -0.6    -3.7     21.95 - 16.20     964       16,546     0.98      5.8      13.0   1.31      66.4        5,387         2.7    1.1    7.4    4.2     8.1

 SAPTCO                    7.10      0.0       0.0    -13.4       8.75 - 7.05     263        1,867     0.81      0.0      18.8   0.38      83.6          888         1.2    0.6    5.1    2.6     3.3

 Mubarrad                 13.95      1.8       0.7    -36.2     24.20 - 12.55     633        8,742     0.94      0.0      N/A     N/A     100.0          251         5.3    1.5   14.7   -2.7    -3.4

 Budget Saudi             56.00      -1.3      -1.3    -7.1     66.50 - 49.00      40        2,270     0.77      3.6      10.7   5.23      43.6        1,025         2.0    2.3    3.2   11.3    21.7

 Tihama                   23.95      -1.0      1.3     -3.6     28.00 - 21.00      91        2,192     0.90      5.0      31.9   0.75     100.0          359         2.9    1.5   32.2    9.7    13.0

 SRMG                     18.40      0.0       -0.8   -34.3     29.90 - 17.75      42         760      0.79      2.7      20.5   0.90      60.5        1,472         1.4    1.2   15.1    3.6     6.1

 SPPC                     12.10      -0.4      -0.8   -26.7     16.80 - 12.00      20         242      0.58      0.0      14.2   0.85      47.5          726         1.8    0.9    7.4    6.0     7.7

 Hotels                   26.10      -0.4      0.4    -14.7     32.70 - 25.60      16         423      0.81      5.7      16.5   1.59      52.7        1,801         6.7    1.1    4.5    5.9     6.8

 Shams                    23.05      1.8       4.5    -33.2     42.50 - 19.35    1,006      23,075     0.84      0.0      N/A     N/A     100.0          234        16.1    3.3    N/A   -0.4    -0.5

Source: Tadawul Stock Exchange, Official Website



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Saudi Stock Market Report
9 November 2010
                                      Definition - Technical Indicators
      Candlestick Patterns, DOJI
      DOJI is a form of candlestick pattern. It normally suggests major up and down movements. Trading above the DOJI is positive
      for the market. Trading below the DOJI value indicates bearish momentum.

      Hammer
      A small body (white or black) near the high with a long lower shadow with little or no upper shadow. This indicates a bullish
      pattern during a downtrend.
      Inverse-black-hammer: a bottom reversal signal with confirmation the next trading day.

      Moving Average, SMA (Simple Moving Average)
      Normally we use the 10, 20, 50 and 125 day SMA to identify the trend. A cross-over of the short-term moving average with the
      long-term moving average is positive for the market. The reverse is the case on the negative side.

      DEMA - Double-smoothed Exponential Moving Average
      We use the 10, 20 and 40 DEMA to identify a trend. A cross-over of the 10 and 20 DEMA gives a positive indication. A cross-
      over of the 20 and 10 DEMA gives a negative indication. As long as a stock or index trades above the 40 DEMA, this gives a
      positive indication for the stock or index. Trading below the 40 DEMA may create downside for a short time.

      MACD - Moving Average Convergence and Divergence
      The MACD has its own line period and another signal line; the dotted line indicates the signal line. When the MACD crosses the
      signal line from below and trades above it, it gives a positive indication. The reverse is the situation for a bearish trend.

      RSI - Relative Strength Index
      When the RSI remains below 30, it indicates that a market or sttock is in oversold territory. When the RSI is above 70, it
      indicates that the market/stock is in an overbought level.

      Price ROC
      When the Price ROC is above zero it gives positive signals for an index or stock. When the price ROC is below zero, it gives a
      negative signal for the index or stock.

      Stochastic Oscillators
      When Stochastic Oscillators are below zero, the stock is in an oversold zone and some bounce back is expected. When
      Stochastic Oscillators are above zero, the stock is in an overbought zone and some correction is expected.

      Williams %R
      When Williams %R is above zero, the stock is in an overbought zone and some correction is expected. When Williams %R is
      below zero, the stock is in an oversold zone and some bounce back is expected.

      CCI (Commodity Channel Index)
      While the CCI was originally designed for commodities, the indicator also works very well with stocks and mutual funds.
      There are two methods of interpreting the CCI:
      1. Looking for divergences: A popular method of analyzing the CCI is to look for divergences in which the underlying security is
      making new highs while the CCI is failing to surpass its previous highs. This classic divergence is usually followed by a
      correction in the security's price.
      2. As an overbought/oversold indicator
      The CCI usually oscillates between +/-100. Readings outside these ranges imply an overbought/oversold condition.




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Saudi Stock Market Report
9 November 2010
      Fibonacci Retracements
      Fibonacci Retracements are based on a trend line that we draw between a significant trough and peak. If the trend line is
      rising, the retracement lines will project downward; if the trend line is falling, the retracement lines will project upward. The
      number of Fibonacci Retracement levels appearing on the chart depends on the range of the y-axis. If we want to see all nine
      retracement levels, we may need to manually adjust the minimum and maximum values of the y-axis. Major Fibonacci Levels
      are 23.6%, 38.2%, 50%, 61.8% and 100%.

      Whipsaw
      A whipsaw is a situation in which a share price heads in one direction, but then is followed quickly by a movement in the
      opposite direction. The origin of the term is the push and pull action used by lumberjacks to cut wood with a type of saw of the
      same name.

      Gravestone Doji
      In a Japanese Candle Stick chart, this is a doji candle where prices rallied but came back and closed at the level they started;
      the open and close are equal.

      Inside Bar
      An inside bar is a bar, which is completely within the range of the preceding bar, i.e. it has a higher low and lower high than the
      bar immediately before it. An inside bar indicates a time of indecision or consolidation. On a smaller time frame, it will look like a
      triangle. Inside bars often occur at tops and bottoms, in continuation flags, and at key decision points like major
      support/resistance levels and consolidation breakouts.

      Big Bar
      A big bar is a bar, which is bigger than the preceding bar, i.e. it has a lower low and higher high than the bar immediately before
      it. Normally, after, forming a big bar, for a coming few sessions, the stock may move in the range of the high and low of the big
      bar. Breaking out or breaking down will give a fresh bullish or bearish pattern.

      Higher High
      This implies that today’s intra-day high is higher than the intra-day high(s) of the previous session(s).

      Lower High
      This implies that today’s intra-day high is lower than the intra-day high(s) of the previous session(s).

      Higher Low
      This implies that today’s intra-day low is higher than the intra-day low(s) of the previous session(s).

      Lower Low
      This implies that today’s intra-day low is lower than the intra-day low(s) of the previous session(s).

      Triangle
      This is a technical analysis pattern created by drawing trend lines along a price range that gets narrower over time because of
      lower tops and higher bottoms. Variations of a triangle include ascending and descending triangles. Technical analysts see a
      breakout of this triangular pattern as either bullish (on a breakout above the upper line) or bearish (on a breakout below the
      lower line).

      Standard Error Channel
      Parallel lines drawn higher and lower from the Linear Regression Trend-line form Standard Error Channels. The distance at
      which they are traced is a certain number of standard errors over or above the linear regression trend-line. The characteristic of
      the price fluctuations is its movement from one extreme to another and it depends on the traders' common opinion. Prices trend
      up in the optimistic market whether a pessimistic one causes prices reduction. The prices are drawn to a certain equilibrium
      point existing for each issue. The location of such point can be found out by using the Linear Regression analysis whether
      Standard Error Channel analysis presents the data about the cyclic direction of the prices as well as the forecasts for possible
      trend changes.

      Long Headed DOJI Pattern
      This is a bullish signal, particularly when around price support levels.




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Saudi Stock Market Report
9 November 2010
      Contact Us
      Dr. Saleh Alsuhaibani
      Head of Research
      Tel : +966 1 2119434
      alsuhaibanis@alrajhi-capital.com


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