The semiconductor stocks have been trading wildly of late, getting hit in July 2017 and again during last week's sell-off before bouncing back on Monday.
These dramatic moves made Jim Cramer wonder which move was really telling the truth about where the group is headed: down with the pullback or up with the rally?
The "Mad Money" host started with Nvidia's daily chart. One of the top stocks in the S&P 500 Index for the second year in a row, his dog's namesake gave buyers a momentary chance to get into the stock last week before running back up to $166 and change as of Tuesday.
"Last week, though, we got a classic example of why you need to buy this stock into any real big weakness," Cramer said. "Given that August and September are brutal months where we often get short, sharp pullbacks ... you'll want to watch this $152 level in case Nvidia gives you another buying opportunity.