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 14	D	Weak or Absent	N/A	Down	Flat	18.66%
Apr 13	D	Weak or Absent	N/A	Down	Flat	18.66%
Apr 12	C	Weak or Absent	N/A	Down	Flat	19.13%
Apr 11	C	Weak or Absent	N/A	Down	Up	18.80%
Apr 10	C	Weak or Absent	N/A	Down	Up	19.13%
Apr 6	C	Strong	N/A	Down	Up	19.94%
Apr 5	C	Strong	N/A	Down	Flat	20.80%
Apr 4	C	Strong	N/A	Down	Up	19.65%
Apr 3	C	Strong	N/A	Down	Up	17.63%
Mar 31	B	Strong	N/A	Up	Up	15.02%