In trading on Monday, shares of the SPDR S&P International Mid Cap ETF ( MDD) entered into oversold territory, changing hands as low as $29.80 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 SPDR S&P International Mid Cap, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 35.8. A bullish investor could look at MDD's 29.2 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), MDD's low point in its 52 week range is $28.70 per share, with $34.90 as the 52 week high point — that compares with a last trade of $29.95. SPDR S&P International Mid Cap shares are currently trading down about 0.7% on the day.