Is Merchants Bancorp (Indiana) technically bullish or bearish?

As of 24 October 2025, the technical trend for Merchants Bancorp (Indiana) has changed from bearish to mildly bearish. The current stance is mildly bearish, driven by the daily moving averages indicating a bearish signal and the KST showing bearish trends on both weekly and monthly time frames. However, the weekly MACD and Dow Theory suggest a mildly bullish outlook, which adds some complexity to the overall assessment. The Bollinger Bands are bullish on a weekly basis but mildly bearish monthly, further indicating mixed signals.
In terms of performance, the stock has underperformed the S&P 500 year-to-date and over the past year, with returns of -9.84% and -25.71% respectively, compared to the S&P 500's 15.47% and 16.90%. However, over the longer term, the stock has outperformed the S&P 500 over 3 years and 5 years, with returns of 37.34% and 112.22% respectively.