The qatar stock exchange index ended the week down 1.68 percent:he Qatar Stock Exchange index ended the week down 1.68 percent, losing 165.48 points from its previous week's closing level to settle at 9,659 points, under the pressure of six sectors. The banking and financial services sector recorded the largest losses, with a decline of 2.58 percent, while the industrial sector posted the highest gains, rising by approximately 0.78 percent.

According to Qatar News Agency, financial analyst Mubarak Al Tamimi explained that the Qatar Stock Exchange (QSE) general index faced selling pressure during the week's trading. This pressure caused the index to decline and break through several technical support levels, bringing it close to the 9,532-point mark. This level is considered significant in technical analysis as a potential zone for renewed buying activity.

Al Tamimi emphasized the importance of monitoring the 9,532-point zone in upcoming sessions, as it is a critical technical level where the forces of supply and demand might interact. He noted that maintaining this level, along with the appearance of positive reversal signals, could increase the chances of an upward rebound in the coming week.

The financial analyst further stated that the recent decline does not necessarily indicate a continued downward trend. He suggested that reaching key support levels might encourage some investors to rebuild positions, especially if trading volumes increase and liquidity returns to key stocks.

Al Tamimi highlighted that for a positive scenario to develop, it would require the index to reclaim broken support levels, turning them back into support zones. This should be accompanied by a noticeable improvement in liquidity and the activity of key stocks.

Conversely, Al Tamimi warned that a clear break below the 9,532-point level, along with heightened selling pressure, could lead to testing lower levels, necessitating increased caution.

In his closing remarks on QSE's performance, Al Tamimi stressed that the trading sessions next week would be pivotal in determining the market's direction. He reiterated that if the index holds above the 9,532-point level and genuine buying interest emerges, a rebound scenario could be supported, although confirmation of this trend depends on the index's behavior and liquidity levels in the coming sessions.

Source: Qatar News Agency