Trend Table for MBINP - Merchants Bancorp - 7.00% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Apr 1	A	Strong	Up	Up	Flat	0.00%
Mar 28	A	Strong	Up	Up	Flat	0.00%
Mar 27	A	Strong	Up	Up	Flat	-0.04%
Mar 26	A	Strong	Up	Up	Flat	0.04%
Mar 25	A	Strong	Up	Up	Flat	0.04%
Mar 22	A	Strong	Up	Up	Flat	0.04%
Mar 21	A	Strong	Up	Up	Flat	0.03%
Mar 20	A	Strong	Up	Up	Flat	0.08%
Mar 19	A	Strong	Up	Up	Flat	0.06%
Mar 18	A	Strong	Up	Up	Flat	0.04%