In trading on Wednesday, shares of the iShares 10+ Year Credit Bond ETF ( CLY) entered into oversold territory, changing hands as low as $57.66 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 10+ Year Credit Bond, the RSI reading has hit 28.7 — by comparison, the RSI reading for the S&P 500 is currently 55.9. A bullish investor could look at CLY's 28.7 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), CLY's low point in its 52 week range is $57.66 per share, with $64.92 as the 52 week high point — that compares with a last trade of $57.73. iShares 10+ Year Credit Bond shares are currently trading off about 0.7% on the day.