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
Apr 28	C	Weak or Absent	N/A	Flat	Up	18.66%
Apr 27	C	Weak or Absent	N/A	Down	Flat	20.32%
Apr 26	D	Weak or Absent	N/A	Down	Down	21.98%
Apr 25	D	Weak or Absent	N/A	Down	Down	22.03%
Apr 24	D	Weak or Absent	N/A	Down	Flat	19.82%
Apr 21	D	Weak or Absent	N/A	Down	Down	21.73%
Apr 20	D	Weak or Absent	N/A	Down	Flat	20.13%
Apr 19	D	Weak or Absent	N/A	Down	Down	20.56%
Apr 18	D	Weak or Absent	N/A	Down	Down	24.05%
Apr 17	D	Weak or Absent	N/A	Down	Flat	19.11%