In trading on Wednesday, shares of the iShares Developed Small-Cap ex North America ETF ( IFSM) entered into oversold territory, changing hands as low as $44.05 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 Developed Small-Cap ex North America, the RSI reading has hit 29.5 — by comparison, the RSI reading for the S&P 500 is currently 35.7. A bullish investor could look at IFSM's 29.5 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), IFSM's low point in its 52 week range is $38.96 per share, with $48.97 as the 52 week high point — that compares with a last trade of $44.29. iShares Developed Small-Cap ex North America shares are currently trading down about 0.5% on the day.