Is Merchants Bancorp (Indiana) technically bullish or bearish?

As of 10 October 2025, the technical trend for Merchants Bancorp (Indiana) has changed from mildly bearish to bearish. The current stance is bearish with weak strength, indicated by the daily moving averages being bearish and both the weekly and monthly Bollinger Bands also signaling bearishness. The MACD shows a mildly bullish signal on the weekly but is bearish on the monthly, suggesting mixed signals across time frames. The company's performance has been notably poor compared to the S&P 500, with a year-to-date return of -14.40% versus the S&P's 11.41%, and a one-year return of -30.20% compared to the S&P's 13.36%.