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
Aug 16	C	Weak or Absent	Down	Down	Down	21.81%
Aug 15	C	Weak or Absent	Down	Down	Down	21.20%
Aug 14	C	Weak or Absent	Flat	Up	Flat	17.92%
Aug 11	C	Weak or Absent	Down	Flat	Down	19.91%
Aug 10	C	Weak or Absent	Down	Flat	Down	20.00%
Aug 9	B	Weak or Absent	Up	Up	Flat	16.97%
Aug 8	B	Weak or Absent	Up	Up	Flat	16.92%
Aug 7	C	Weak or Absent	Up	Up	Flat	16.92%
Aug 4	B	Weak or Absent	Up	Up	Flat	16.66%
Aug 3	B	Weak or Absent	Up	Up	Flat	17.11%