In trading on Monday, shares of the First Trust ISE Chindia Index Fund ETF (FNI) entered into oversold territory, changing hands as low as $28.78 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 First Trust ISE Chindia Index Fund, the RSI reading has hit 29.5 — by comparison, the RSI reading for the S&P 500 is currently 39.5. A bullish investor could look at FNI's 29.5 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), FNI's low point in its 52 week range is $26.35 per share, with $32.65 as the 52 week high point — that compares with a last trade of $28.78. First Trust ISE Chindia Index Fund shares are currently trading down about 0.4% on the day.