In trading on Monday, shares of the Daily Technology Bear 3X Shares ETF ( TECS) entered into oversold territory, changing hands as low as $21.57 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 Daily Technology Bear 3X Shares, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 65.5. A bullish investor could look at TECS's 29.8 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), TECS's low point in its 52 week range is $21.57 per share, with $50.05 as the 52 week high point — that compares with a last trade of $21.57. Daily Technology Bear 3X Shares shares are currently trading off about 3.7% on the day.