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
Jul 3	D	Weak or Absent	Up	Flat	Flat	1.62%
Jul 2	D	Weak or Absent	Up	Down	Down	2.21%
Jul 1	C	Weak or Absent	Up	Down	Down	1.90%
Jun 28	C	Weak or Absent	Up	Down	Down	1.98%
Jun 27	B	Weak or Absent	Up	Flat	Flat	1.26%
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%