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
Jun 21	B	Weak or Absent	Up	Up	Flat	7.20%
Jun 20	B	Weak or Absent	Up	Up	Up	7.20%
Jun 18	B	Weak or Absent	Up	Flat	Flat	7.32%
Jun 17	C	Weak or Absent	Up	Flat	Flat	7.66%
Jun 14	B	Weak or Absent	Up	Flat	Flat	7.68%
Jun 13	C	Weak or Absent	Up	Flat	Flat	8.11%
Jun 12	C	Weak or Absent	Up	Down	Down	8.70%
Jun 11	C	Weak or Absent	Up	Flat	Flat	7.86%
Jun 10	B	Weak or Absent	Up	Flat	Flat	7.74%
Jun 7	B	Weak or Absent	Up	Flat	Flat	7.82%