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 19	A	Weak or Absent	Up	Up	Flat	6.80%
Apr 18	A	Weak or Absent	Up	Flat	Down	8.31%
Apr 17	A	Weak or Absent	Up	Flat	Down	8.41%
Apr 16	A	Weak or Absent	Up	Flat	Down	8.45%
Apr 15	A	Weak or Absent	Up	Up	Down	8.19%
Apr 12	A	Strong	Up	Up	Up	5.23%
Apr 11	A	Strong	Up	Up	Flat	6.18%
Apr 10	B	Strong	Up	Up	Flat	6.30%
Apr 9	B	Strong	Up	Up	Up	5.56%
Apr 8	A	Strong	Up	Up	Up	5.07%