Trend Table for MBINN - Merchants Bancorp - Depositary Shares 6.00% Fixed Rate Series C Non-Cumulative Perpetual Preferred Stock

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Oct 1	A	Strong	Up	Up	Up	0.00%
Sep 30	A	Strong	Up	Up	Up	0.42%
Sep 27	A	Strong	Up	Up	Up	0.29%
Sep 26	B	Strong	Up	Up	Up	0.71%
Sep 25	A	Strong	Up	Up	Up	1.91%
Sep 24	A	Strong	Up	Up	Up	1.26%
Sep 23	B	Strong	Up	Up	Up	4.84%
Sep 20	A	Strong	Up	Up	Up	5.11%
Sep 19	A	Weak or Absent	Up	Up	Up	5.71%
Sep 18	A	Weak or Absent	Up	Up	Up	6.98%