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
Sep 21	C	Weak or Absent	Down	Flat	Down	45.47%
Sep 20	B	Weak or Absent	Down	Up	Flat	43.71%
Sep 19	B	Weak or Absent	Down	Flat	Down	44.74%
Sep 18	B	Weak or Absent	Down	Up	Flat	42.12%
Sep 15	B	Weak or Absent	Down	Up	Up	41.76%
Sep 14	B	Weak or Absent	Down	Up	Flat	41.91%
Sep 13	B	Weak or Absent	Down	Flat	Down	45.51%
Sep 12	B	Weak or Absent	Down	Up	Flat	43.94%
Sep 11	B	Weak or Absent	Down	Up	Up	42.02%
Sep 8	B	Weak or Absent	Down	Up	Up	43.55%