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
May 5	F	Strong	N/A	Down	Down	40.14%
May 4	F	Weak or Absent	N/A	Down	Down	42.35%
May 3	D	Weak or Absent	N/A	Down	Down	26.22%
May 2	D	Weak or Absent	N/A	Down	Down	24.95%
May 1	D	Weak or Absent	N/A	Down	Down	22.89%
Apr 28	C	Weak or Absent	N/A	Flat	Up	17.98%
Apr 27	C	Weak or Absent	N/A	Down	Flat	19.64%
Apr 26	D	Weak or Absent	N/A	Down	Down	21.29%
Apr 25	D	Weak or Absent	N/A	Down	Down	21.34%
Apr 24	D	Weak or Absent	N/A	Down	Flat	19.14%