In trading on Thursday, shares of the Daily FTSE China Bear 3X Shares ETF ( YANG) entered into oversold territory, changing hands as low as $20.48 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 Daily FTSE China Bear 3X Shares, the RSI reading has hit 28.6 — by comparison, the RSI reading for the S&P 500 is currently 53.5. A bullish investor could look at YANG's 28.6 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), YANG's low point in its 52 week range is $18.09 per share, with $64.00 as the 52 week high point — that compares with a last trade of $20.48. Daily FTSE China Bear 3X Shares shares are currently trading down about 4.5% on the day.