In trading on Monday, shares of the Intermediate Municipal Index ETF ( ITM) entered into oversold territory, changing hands as low as $21.48 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 Intermediate Municipal Index, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 41.9. A bullish investor could look at ITM'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), ITM's low point in its 52 week range is $21.10 per share, with $24.38 as the 52 week high point — that compares with a last trade of $21.52. Intermediate Municipal Index shares are currently trading off about 0.4% on the day.