In trading on Friday, shares of the iBonds Mar 2016 Corporate ETF (IBDA) entered into oversold territory, changing hands as low as $100.72 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 iBonds Mar 2016 Corporate, the RSI reading has hit 26.2 — by comparison, the RSI reading for the S&P 500 is currently 49.3. A bullish investor could look at IBDA's 26.2 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), IBDA's low point in its 52 week range is $99.76 per share, with $106.31 as the 52 week high point — that compares with a last trade of $100.72. iBonds Mar 2016 Corporate shares are currently trading down about 0.5% on the day.