So sorry. This looks like gummosis which is the tree trying to repair a bacterial or viral infection or a response to a physical injury. The tree is compartmentalizing the damaged parts. Unfortunately, when the damage is to the trunk of the tree it rarely survives. If the damage is from a physical injury you can wait to see if the tree makes new growth below the damage. If it is from one of the many diseases that infect cherry trees you may want to consider acting like George Washington and just chop down that cherry tree making sure to keep the infected wood away from other plants. I think I see tiny golden bumps or cankers on the branch of the tree in the image. This would be a sign of disease and if this was on my property I would have it removed and all parts of it taken away.  Cherry trees are prone to having problems unless they are growing in perfect conditions so I would not plant another cherry tree on your property. Keep growing, Marianne Binetti