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
Jul 17	B	Weak or Absent	Up	Up	Up	3.81%
Jul 16	B	Weak or Absent	Up	Up	Up	3.81%
Jul 15	B	Weak or Absent	Up	Up	Up	4.50%
Jul 12	B	Weak or Absent	Up	Up	Up	3.77%
Jul 11	B	Weak or Absent	Up	Up	Up	4.21%
Jul 10	C	Weak or Absent	Up	Flat	Up	5.44%
Jul 9	D	Weak or Absent	Up	Down	Flat	6.45%
Jul 8	D	Weak or Absent	Up	Flat	Flat	5.99%
Jul 5	C	Weak or Absent	Up	Flat	Flat	5.61%
Jul 3	D	Weak or Absent	Up	Flat	Flat	5.90%