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
Oct 19	C	Weak or Absent	Down	Down	Down	31.31%
Oct 18	C	Weak or Absent	Down	Down	Down	28.78%
Oct 17	D	Weak or Absent	Down	Down	Down	29.24%
Oct 16	D	Weak or Absent	Down	Down	Down	26.63%
Oct 13	C	Weak or Absent	Down	Down	Down	26.68%
Oct 12	C	Weak or Absent	Down	Down	Flat	24.87%
Oct 11	C	Weak or Absent	Down	Down	Up	24.11%
Oct 10	C	Weak or Absent	Down	Down	Up	24.76%
Oct 9	D	Weak or Absent	Down	Down	Flat	26.29%
Oct 6	C	Weak or Absent	Down	Down	Flat	25.14%