In trading on Monday, shares of the iShares Global ex USD High Yield Corporate Bond ETF ( HYXU) entered into oversold territory, changing hands as low as $56.26 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 Global ex USD High Yield Corporate Bond, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 66.3. A bullish investor could look at HYXU's 29.6 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), HYXU's low point in its 52 week range is $53.79 per share, with $60.15 as the 52 week high point — that compares with a last trade of $56.26. iShares Global ex USD High Yield Corporate Bond shares are currently trading down about 0.6% on the day.