In trading on Wednesday, shares of Key Energy Services, Inc. ( KEG) entered into oversold territory, changing hands as low as $5.58 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 Key Energy Services, Inc., the RSI reading has hit 29.6 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 44.4, the RSI of WTI Crude Oil is at 32.2, and the RSI of Henry Hub Natural Gas is presently 55.7. A bullish investor could look at KEG'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), KEG's low point in its 52 week range is $5.58 per share, with $10.52 as the 52 week high point — that compares with a last trade of $5.63. Key Energy Services, Inc. shares are currently trading off about 0.5% on the day. According to the ETF Finder at ETF Channel, KEG makes up 1.94% of the PowerShares Dynamic Oil & Gas Services Portfolio ETF ( PXJ) which is trading relatively unchanged on the day Wednesday.