In trading on Friday, shares of the Vanguard Emerging Markets Government Bond ETF (VWOB) entered into oversold territory, changing hands as low as $79.55 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 Vanguard Emerging Markets Government Bond, the RSI reading has hit 29.0 — by comparison, the RSI reading for the S&P 500 is currently 33.6. A bullish investor could look at VWOB's 29.0 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), VWOB's low point in its 52 week range is $74.05 per share, with $81.51 as the 52 week high point — that compares with a last trade of $79.63. Vanguard Emerging Markets Government Bond shares are currently trading off about 0.4% on the day.