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
Mar 16	C	Strong	N/A	Down	Down	20.80%
Mar 15	C	Strong	N/A	Down	Down	27.16%
Mar 14	C	Strong	N/A	Down	Down	23.79%
Mar 13	C	Strong	N/A	Down	Down	30.68%
Mar 10	F	Strong	N/A	Down	Down	22.73%
Mar 9	C	Weak or Absent	N/A	Down	Down	17.15%
Mar 8	D	Weak or Absent	N/A	Down	Down	14.10%
Mar 7	D	Weak or Absent	N/A	Down	Down	14.74%
Mar 6	C	Weak or Absent	N/A	Up	Up	12.02%
Mar 3	C	Weak or Absent	N/A	Flat	Flat	12.93%