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 27	B	Weak or Absent	N/A	Up	Flat	24.91%
Jun 26	B	Weak or Absent	N/A	Up	Flat	25.34%
Jun 23	B	Weak or Absent	N/A	Up	Down	25.55%
Jun 22	B	Weak or Absent	N/A	Up	Down	25.82%
Jun 21	B	Weak or Absent	N/A	Up	Up	23.69%
Jun 20	B	Weak or Absent	N/A	Up	Flat	24.49%
Jun 16	B	Weak or Absent	N/A	Up	Flat	24.49%
Jun 15	B	Weak or Absent	N/A	Up	Up	23.44%
Jun 14	B	Weak or Absent	N/A	Up	Flat	25.23%
Jun 13	B	Weak or Absent	N/A	Up	Up	24.31%