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
Jun 26	C	Weak or Absent	Up	Flat	Flat	1.54%
Jun 25	B	Weak or Absent	Up	Flat	Flat	1.38%
Jun 24	B	Weak or Absent	Up	Flat	Flat	0.98%
Jun 21	B	Weak or Absent	Up	Up	Flat	0.94%
Jun 20	B	Weak or Absent	Up	Up	Up	0.94%
Jun 18	B	Weak or Absent	Up	Flat	Flat	1.06%
Jun 17	C	Weak or Absent	Up	Flat	Flat	1.38%
Jun 14	B	Weak or Absent	Up	Flat	Flat	1.40%
Jun 13	C	Weak or Absent	Up	Flat	Flat	1.81%
Jun 12	C	Weak or Absent	Up	Down	Down	2.36%