Stone fruit trees, including cherries, often ooze amber-colored sap from the trunk when they become stressed. Drought is a common cause. Cytospora canker, a fungal disease affecting trunks of many types of trees, can also be the cause when it finds a home in stressed trees. The best bet is to try to increase the vigor of the plant; water sufficiently but not excessively. Water the tree well out from the trunk. Also provide water during dry spells. Fertilize the tree lightly in May with a granular fertilizer sprinkled under the tree canopy, from the trunk out to beyond the branch extremities. If the tree is in fertilized lawn area, there is no need to apply any extra fertilizer just to the tree.
For more informaton refer to: Cytospora Canker