In trading on Tuesday, shares of the iShares Utilities Bond ETF (AMPS) entered into oversold territory, changing hands as low as $49.9201 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 Utilities Bond, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 49.9.

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A bullish investor could look at AMPS's 28.2 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), AMPS's low point in its 52 week range is $49.18 per share, with $56.81 as the 52 week high point — that compares with a last trade of $49.92. iShares Utilities Bond shares are currently trading down about 0.9% on the day.

iShares Utilities Bond 1 Year Performance Chart