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

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Oct 11	C	Strong	Up	Up	Down	-4.96%
Oct 10	B	Strong	Up	Up	Down	-5.53%
Oct 9	B	Strong	Up	Up	Down	-5.24%
Oct 8	B	Very Strong	Up	Up	Flat	-5.84%
Oct 7	A	Strong	Up	Up	Up	-6.53%
Oct 4	A	Strong	Up	Up	Up	-6.72%
Oct 3	A	Strong	Up	Up	Up	-6.80%
Oct 2	A	Strong	Up	Up	Up	-6.53%
Oct 1	A	Strong	Up	Up	Up	-5.95%
Sep 30	A	Strong	Up	Up	Up	-5.55%