In trading on Wednesday, shares of the SPDR Barclays Intermediate Term Corporate Bond ETF ( ITR) entered into oversold territory, changing hands as low as $33.9803 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 Barclays Intermediate Term Corporate Bond, the RSI reading has hit 29.5 — by comparison, the RSI reading for the S&P 500 is currently 55.9. A bullish investor could look at ITR'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), ITR's low point in its 52 week range is $33.9803 per share, with $34.81 as the 52 week high point — that compares with a last trade of $33.99. SPDR Barclays Intermediate Term Corporate Bond shares are currently trading down about 0.3% on the day.