In trading on Tuesday, shares of the iShares MSCI EAFE Growth ETF ( EFG) entered into oversold territory, changing hands as low as $69.1601 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 Growth, the RSI reading has hit 27.4 — by comparison, the RSI reading for the S&P 500 is currently 34.9. A bullish investor could look at EFG's 27.4 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), EFG's low point in its 52 week range is $63.40 per share, with $74.11 as the 52 week high point — that compares with a last trade of $69.26. iShares MSCI EAFE Growth shares are currently trading off about 1.2% on the day.