Trend Table for MBINM - Merchants Bancorp - Depositary Shares, Each Representing a 1/40th Interest in a Share of 8.25% Fixed-Rate Reset Series D Non-Cumulative Perpetual Preferred Stock

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jun 17	C	Weak or Absent	Up	Flat	Flat	5.65%
Jun 14	B	Weak or Absent	Up	Flat	Flat	5.67%
Jun 13	C	Weak or Absent	Up	Flat	Flat	6.09%
Jun 12	C	Weak or Absent	Up	Down	Down	6.67%
Jun 11	C	Weak or Absent	Up	Flat	Flat	5.85%
Jun 10	B	Weak or Absent	Up	Flat	Flat	5.72%
Jun 7	B	Weak or Absent	Up	Flat	Flat	5.80%
Jun 6	C	Weak or Absent	Up	Flat	Flat	5.85%
Jun 5	B	Weak or Absent	Up	Up	Flat	5.36%
Jun 4	C	Weak or Absent	Up	Flat	Flat	6.01%