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
Jan 16	B	Strong	Up	Up	Up	24.89%
Jan 12	B	Strong	Up	Up	Up	24.23%
Jan 11	B	Strong	Up	Up	Up	24.41%
Jan 10	B	Strong	Up	Up	Up	24.53%
Jan 9	B	Strong	Up	Up	Up	24.53%
Jan 8	B	Weak or Absent	Up	Up	Up	25.57%
Jan 5	B	Weak or Absent	Up	Up	Flat	26.44%
Jan 4	B	Weak or Absent	Up	Up	Flat	26.75%
Jan 3	C	Strong	Up	Up	Flat	27.70%
Jan 2	B	Strong	Up	Up	Flat	27.25%