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
Nov 4	A	Weak or Absent	Up	Up	Flat	0.71%
Nov 1	A	Weak or Absent	Up	Up	Flat	0.66%
Oct 31	A	Weak or Absent	Up	Up	Flat	0.63%
Oct 30	A	Weak or Absent	Up	Flat	Flat	1.12%
Oct 29	A	Weak or Absent	Up	Up	Flat	0.95%
Oct 28	A	Weak or Absent	Up	Up	Flat	0.71%
Oct 25	A	Weak or Absent	Up	Up	Flat	0.83%
Oct 24	A	Weak or Absent	Up	Up	Flat	0.83%
Oct 23	A	Weak or Absent	Up	Up	Flat	0.91%
Oct 22	A	Weak or Absent	Up	Up	Flat	0.83%