In trading on Tuesday, shares of the iShares MSCI Emerging Markets Small-Cap ETF (EEMS) entered into oversold territory, changing hands as low as $48.65 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 MSCI Emerging Markets Small-Cap, the RSI reading has hit 27.9 — by comparison, the RSI reading for the S&P 500 is currently 36.9. A bullish investor could look at EEMS's 27.9 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), EEMS's low point in its 52 week range is $43.75 per share, with $52.40 as the 52 week high point — that compares with a last trade of $48.71. iShares MSCI Emerging Markets Small-Cap shares are currently trading down about 1.1% on the day.