• Return to Headlines

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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cerus Corp (NASDAQ:CERS) based on the price action in the company's shares. Yesterday's price range of $5.21 and $5.50 is within the prior day'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. Traders and investors interested in shares of Cerus Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Cerus Corp has traded in a range of $2.71 to $6.61 and closed yesterday at $5.34, 97% above that low. The 200-day and 50-day moving averages have moved 0.04% lower and 0.22% higher over the past week, respectively.

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.

There is potential upside of 31.1% for shares of Cerus Corp based on a current price of $5.34 and an average consensus analyst price target of $7.00. Cerus Corp shares have support at the 50-day moving average (MA) of $4.84 and additional support at the 200-day MA of $4.77.

SmarTrend is tracking the current trend status for Cerus Corp and will alert subscribers who have CERS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cerus corp

Ticker(s): CERS