Trend Table for SAJ - Saratoga Investment Corp 8.00% Notes due 2027

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
May 16	A	Weak or Absent	Up	Up	Flat	4.75%
May 15	A	Weak or Absent	Up	Up	Flat	4.81%
May 14	A	Weak or Absent	Up	Up	Flat	5.04%
May 13	A	Weak or Absent	Up	Up	Flat	5.13%
May 10	A	Weak or Absent	Up	Up	Flat	5.46%
May 9	A	Weak or Absent	Up	Up	Flat	5.46%
May 8	A	Weak or Absent	Up	Up	Flat	5.25%
May 7	A	Weak or Absent	Up	Up	Up	5.25%
May 6	A	Weak or Absent	Up	Up	Up	5.25%
May 3	A	Weak or Absent	Up	Up	Up	5.13%