Cerus (CERS) operates as a biomedical products company that focuses on developing and commercializing the Intercept Blood System to enhance blood safety. This stock closed up 3.8% to $6.82 in Tuesday's trading session.

Tuesday's Range: $6.50-$6.84
52-Week Range: $2.98-$7.13
Thursday's Volume: 592,000
Three-Month Average Volume: 513,314

From a technical perspective, CERS spiked notably higher here right off some near-term support at $6.50 with above-average volume. This move is quickly pushing shares of CERS within range of triggering a major breakout trade. That trade will hit if CERS manages to take out some key near-term overhead resistance levels at $6.86 to $6.95 and then once it clears its 52-week high at $7.13 with high volume.

Traders should now look for long-biased trades in CERS as long as it's trending above some key near-term support levels at $6.50 or above its 50-day at $6.21 and then once it sustains a move or close above those breakout levels with volume that hits near or above 513,314 shares. If that breakout hits soon, then CERS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $9 to $10.

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