In trading on Thursday, shares of the iShares MSCI EAFE Minimum Volatility Index Fund ETF ( EFAV) entered into oversold territory, changing hands as low as $56.31 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 MSCI EAFE Minimum Volatility Index Fund, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 40.3. A bullish investor could look at EFAV's 29.1 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), EFAV's low point in its 52 week range is $48.80 per share, with $62.59 as the 52 week high point — that compares with a last trade of $56.37. iShares MSCI EAFE Minimum Volatility Index Fund shares are currently trading off about 3.3% on the day.