It's time to check out the charts...

The rally in Nvidia (NVDA) began in April last year and the stock has gone on to a 386% gain since then, but there's another stock in the graphics and artificial intelligence semiconductor space that has done even better. Advanced Micro Devices (AMD) is up 408% in the last 16 months and is retesting its all-time highs as the company is set to report earnings after the close of trading Tuesday. The price action on the daily chart and the technical indications suggest a potential 17% move higher from its current level.

Looking to make a move on Nvidia? Jim Cramer shares when the stock is a buy:

The $15.00 area has supplied resistance for the last six months and, after making several attempts to break above this level earlier in the year, shares failed and broke under their 50-day moving average, moving back down to retest the rising 200-day moving average and the long-term uptrend line. They were able to hold this support and bounced back up last month to retest resistance, in the process forming a bullish cup-and-handle pattern below the $14.50 rim line. The price objective of this pattern is measured by taking the depth of the cup and adding it to the rim line and it targets the $17.00 level, which would be a 17% move in the stock price.

Daily moving average convergence/divergence is overlaid on a weekly histogram of the oscillator and is moving above its center line on both time frames. These readings represent positive price momentum and short-term trend direction. The accumulation/distribution line is trending above its rising 21-period signal average, suggesting the stock is being accumulated ahead of the earnings report.

Advanced Micro is a buy after an upper candle close above the $14.50 level, using a trailing percentage sell stop.

AMD's shares rose 4.2% to $14.70 on Wednesday.

Don't miss these top stories on TheStreet:

The author is an independent contributor and at the time of publication had no positions in the stocks mentioned.

More from Investing

Insiders Continue Their Buying Spree and Why That's Important

Insiders Continue Their Buying Spree and Why That's Important

How to Be a Tactical Investor in the Current Market

How to Be a Tactical Investor in the Current Market

Apple Stock Shows a Major Buying Opportunity: Chart

Apple Stock Shows a Major Buying Opportunity: Chart

PayPal Stock Has a Problem Right Now

PayPal Stock Has a Problem Right Now

How to Play P&G Stock Following Friday's Q1 Results

How to Play P&G Stock Following Friday's Q1 Results