In trading on Friday, shares of the iShares Enhanced International Large-Cap ETF ( IEIL) entered into oversold territory, changing hands as low as $22.95 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 Enhanced International Large-Cap, the RSI reading has hit 26.9 — by comparison, the RSI reading for the S&P 500 is currently 45.8. A bullish investor could look at IEIL's 26.9 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), IEIL's low point in its 52 week range is $22.07 per share, with $26.86 as the 52 week high point — that compares with a last trade of $22.95. iShares Enhanced International Large-Cap shares are currently trading down about 0.8% on the day.