Trend Table for MBINM - Merchants Bancorp - Depositary Shares, Each Representing a 1/40th Interest in a Share of 8.25% Fixed-Rate Reset Series D Non-Cumulative Perpetual Preferred Stock

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Aug 1	A	Weak or Absent	Up	Up	Flat	0.43%
Jul 31	C	Weak or Absent	Up	Flat	Down	1.26%
Jul 30	C	Weak or Absent	Up	Flat	Down	1.50%
Jul 29	A	Weak or Absent	Up	Up	Flat	0.35%
Jul 26	A	Weak or Absent	Up	Up	Flat	-0.15%
Jul 25	A	Weak or Absent	Up	Up	Flat	-0.27%
Jul 24	A	Weak or Absent	Up	Up	Flat	0.66%
Jul 23	B	Weak or Absent	Up	Up	Flat	0.70%
Jul 22	A	Weak or Absent	Up	Up	Up	-0.08%
Jul 19	A	Weak or Absent	Up	Up	Up	0.04%