In trading on Friday, shares of the Daily Developed Markets Bull 3x Shares ETF ( DZK) entered into oversold territory, changing hands as low as $57.00 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 Daily Developed Markets Bull 3x Shares, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 43.1. A bullish investor could look at DZK'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), DZK's low point in its 52 week range is $50.64 per share, with $85.39 as the 52 week high point — that compares with a last trade of $57.00. Daily Developed Markets Bull 3x Shares shares are currently trading off about 5% on the day.