In trading on Tuesday, shares of the iShares Barclays 3-7 Year Treasury Bond Fund ETF ( IEI) entered into oversold territory, changing hands as low as $122.623 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 iShares Barclays 3-7 Year Treasury Bond Fund, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 66.4. A bullish investor could look at IEI's 29.4 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), IEI's low point in its 52 week range is $122.40 per share, with $124.27 as the 52 week high point — that compares with a last trade of $122.66. iShares Barclays 3-7 Year Treasury Bond Fund shares are currently trading down about 0.3% on the day.