In trading on Monday, shares of the iShares MSCI Emerging Markets Asia ETF ( EEMA) entered into oversold territory, changing hands as low as $58.11 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 Emerging Markets Asia, the RSI reading has hit 24.8 — by comparison, the RSI reading for the S&P 500 is currently 47.2. A bullish investor could look at EEMA's 24.8 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), EEMA's low point in its 52 week range is $51.65 per share, with $63.30 as the 52 week high point — that compares with a last trade of $58.37. iShares MSCI Emerging Markets Asia shares are currently trading off about 1.7% on the day.