In trading on Wednesday, shares of the iShares New York AMT-Free Muni Bond ETF ( NYF) entered into oversold territory, changing hands as low as $110.2501 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 New York AMT-Free Muni Bond, the RSI reading has hit 27.5 — by comparison, the RSI reading for the S&P 500 is currently 42.2. A bullish investor could look at NYF's 27.5 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), NYF's low point in its 52 week range is $108.66 per share, with $113.64 as the 52 week high point — that compares with a last trade of $110.33. iShares New York AMT-Free Muni Bond shares are currently trading down about 0.3% on the day.