The buoyant overall equity markets have created positive spillover effects on Canadian small caps as well.  The strong markets have resulted in dozens of smaller resource based issues that have been pulled along by presumptive optimism. We examine a small TSX resource company, PHX, that looks technically well positioned for a push higher.

PHX is showing positive price action rising above its 50 period moving average and is experiencing rising accumulation statistics. Money flow and momentum are onside.  Since this is a small cap issue, liquidity is thin and therefore this trade is very speculative.