In trading on Monday, shares of the iShares MSCI Italy Capped ETF ( EWI) entered into oversold territory, changing hands as low as $13.405 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 MSCI Italy Capped, the RSI reading has hit 28.4 — by comparison, the RSI reading for the S&P 500 is currently 35.8. A bullish investor could look at EWI's 28.4 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), EWI's low point in its 52 week range is $13.405 per share, with $18.44 as the 52 week high point — that compares with a last trade of $13.41. iShares MSCI Italy Capped shares are currently trading off about 2.3% on the day.