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 21	D	Weak or Absent	N/A	Down	Down	19.66%
Apr 20	D	Weak or Absent	N/A	Down	Flat	18.08%
Apr 19	D	Weak or Absent	N/A	Down	Down	18.51%
Apr 18	D	Weak or Absent	N/A	Down	Down	21.94%
Apr 17	D	Weak or Absent	N/A	Down	Flat	17.09%
Apr 14	D	Weak or Absent	N/A	Down	Flat	16.63%
Apr 13	D	Weak or Absent	N/A	Down	Flat	16.63%
Apr 12	C	Weak or Absent	N/A	Down	Flat	17.10%
Apr 11	C	Weak or Absent	N/A	Down	Up	16.77%
Apr 10	C	Weak or Absent	N/A	Down	Up	17.10%