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Possible Bearish Inside Day Candle Pattern Detected for Cerus Corp (NASDAQ:CERS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cerus Corp (NASDAQ:CERS) based on the price action in the company's shares. Today's price range of $2.45 and $2.54 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Cerus Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Cerus Corp share prices have been bracketed by a low of $1.93 and a high of $7.64 and are now at $2.52, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

Potential upside of 186.3% exists for Cerus Corp, based on a current level of $2.52 and analysts' average consensus price target of $7.20. Cerus Corp shares should first meet resistance at the 200-day moving average (MA) of $5.47 and find additional resistance at the 50-day MA of $5.96.

Cerus Corporation develops systems designed to enhance the safety of blood transfusions. The Company's systems inactivate pathogens in blood components and inactivate white blood cells, which are responsible for a variety of adverse transfusion reactions. Cerus' platform technologies prevent viral, bacterial, and cellular replication.

SmarTrend recommended that its subscribers protect gains by selling shares of Cerus Corp on December 1st, 2016 by issuing a Downtrend alert when the shares were trading at $5.10. Since that call, shares of Cerus Corp have fallen 50.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle cerus corp

Ticker(s): CERS