In trading on Friday, shares of the Proshares UltraShort 20+ Year Treasury ETF ( TBT) TBT entered into oversold territory, changing hands as low as $59.68 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.In the case of Proshares UltraShort 20+ Year Treasury, the RSI reading has hit 23.8 — by comparison, the RSI reading for the S&P 500 is currently 47.8. A bullish investor could look at TBT's 23.8 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), TBT's low point in its 52 week range is $56.32 per share, with $82.56 as the 52 week high point — that compares with a last trade of $59.73. Proshares UltraShort 20+ Year Treasury shares are currently trading off about 4.6% on the day.