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
Apr 11	A	Strong	Up	Up	Flat	8.08%
Apr 10	B	Strong	Up	Up	Flat	8.20%
Apr 9	B	Strong	Up	Up	Up	7.45%
Apr 8	A	Strong	Up	Up	Up	6.95%
Apr 5	A	Weak or Absent	Up	Up	Up	7.74%
Apr 4	A	Weak or Absent	Up	Up	Up	7.87%
Apr 3	A	Weak or Absent	Up	Up	Flat	9.27%
Apr 2	A	Weak or Absent	Up	Up	Up	8.33%
Apr 1	A	Weak or Absent	Up	Up	Up	8.24%
Mar 28	B	Weak or Absent	Up	Up	Up	9.09%