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
May 23	D	Weak or Absent	Up	Down	Down	24.95%
May 22	C	Weak or Absent	Up	Up	Up	21.91%
May 21	C	Weak or Absent	Up	Up	Up	21.91%
May 20	C	Weak or Absent	Up	Up	Up	22.21%
May 17	C	Weak or Absent	Up	Flat	Up	22.21%
May 16	D	Weak or Absent	Up	Flat	Up	23.05%
May 15	C	Weak or Absent	Up	Flat	Up	22.72%
May 14	D	Weak or Absent	Up	Down	Flat	24.39%
May 13	D	Weak or Absent	Up	Down	Up	24.02%
May 10	D	Weak or Absent	Up	Down	Up	23.90%