In trading on Friday, shares of the Guggenheim S&P 500 Equal Weight Consumer Staples ETF (RHS) entered into oversold territory, changing hands as low as $105.6801 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 Guggenheim S&P 500 Equal Weight Consumer Staples, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 44.4. A bullish investor could look at RHS'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), RHS's low point in its 52 week range is $91.83 per share, with $110.26 as the 52 week high point — that compares with a last trade of $105.76. Guggenheim S&P 500 Equal Weight Consumer Staples shares are currently trading off about 0.9% on the day.