Nvidia $NVDA has been in a secular bull market since 2013. It has spent most of the time since then above the 200-day simple moving average (SMA). The bull market has gotten stronger in recent years and we have not seen price tag the 200-day SMA since February 2016, when price fell to a low on the year just below $25 a share.NVDA Daily Chart(click to enlarge)Major Sell-off:- Wednesday 10/10 was a session of major sell-off across the board, and NVDA was hit hard, about -7.50%. - The sell-off has brought price back to the 200-day SMA for the first time since early 2016. - The daily RSI is pushing towards 30.- This dip could turn out to be an opportunity for traders to buy on a dip around $240. - We might want to wait for some stabilization if we don't want to catch a falling knife, because there is no certainty as to where the current downside goes to.- $240 is just a nice support/resistance pivot and is not too far below the 200-day SMA to suggest a bearish market.