Trend Table for MBINO - Merchants Bancorp - Depositary Shares Each Representing a 1/40th Interest in a Share of Series B Fixed-to-Floating Rate

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jun 28	A	Strong	Up	Flat	Flat	5.28%
Jun 27	A	Strong	Up	Up	Flat	4.93%
Jun 26	A	Strong	Up	Up	Flat	4.87%
Jun 25	A	Strong	Up	Up	Flat	4.98%
Jun 24	A	Strong	Up	Flat	Down	5.32%
Jun 21	A	Strong	Up	Up	Flat	4.30%
Jun 20	A	Strong	Up	Up	Up	4.30%
Jun 18	A	Strong	Up	Up	Flat	4.38%
Jun 17	A	Strong	Up	Up	Flat	4.85%
Jun 14	A	Strong	Up	Up	Up	4.48%