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 5	A	Weak or Absent	Up	Up	Up	5.85%
Apr 4	A	Weak or Absent	Up	Up	Up	5.97%
Apr 3	A	Weak or Absent	Up	Up	Flat	7.34%
Apr 2	A	Weak or Absent	Up	Up	Up	6.42%
Apr 1	A	Weak or Absent	Up	Up	Up	6.34%
Mar 28	B	Weak or Absent	Up	Up	Up	7.17%
Mar 27	A	Weak or Absent	Up	Up	Up	6.80%
Mar 26	A	Weak or Absent	Up	Up	Up	7.68%
Mar 25	A	Weak or Absent	Up	Up	Up	7.51%
Mar 22	A	Weak or Absent	Up	Up	Up	7.68%