In trading on Tuesday, shares of the Proshares Investment GradeInterest Rate Hedged ETF ( IGHG) entered into oversold territory, changing hands as low as $78.00 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 Proshares Investment GradeInterest Rate Hedged, the RSI reading has hit 26.6 — by comparison, the RSI reading for the S&P 500 is currently 67.4. A bullish investor could look at IGHG's 26.6 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), IGHG's low point in its 52 week range is $78.00 per share, with $86.12 as the 52 week high point — that compares with a last trade of $78.00. Proshares Investment GradeInterest Rate Hedged shares are currently trading down about 0.3% on the day.