In trading on Friday, shares of the PowerShares S&P International Developed High Quality Portfolio ETF ( IDHQ) entered into oversold territory, changing hands as low as $18.6301 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 PowerShares S&P International Developed High Quality Portfolio, the RSI reading has hit 26.6 — by comparison, the RSI reading for the S&P 500 is currently 43.1. A bullish investor could look at IDHQ'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), IDHQ's low point in its 52 week range is $17.92 per share, with $21.05 as the 52 week high point — that compares with a last trade of $18.64. PowerShares S&P International Developed High Quality Portfolio shares are currently trading off about 1.3% on the day.