In trading on Monday, shares of the iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) entered into oversold territory, changing hands as low as $48.68 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 0-5 Year High Yield Corporate Bond, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 76.0. A bullish investor could look at SHYG's 29.8 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), SHYG's low point in its 52 week range is $48.60 per share, with $50.96 as the 52 week high point — that compares with a last trade of $48.68. iShares 0-5 Year High Yield Corporate Bond shares are currently trading off about 0.2% on the day.