In trading on Wednesday, shares of the ProShares Ultra 20+ Year Treasury ETF ( UBT) entered into oversold territory, changing hands as low as $68.13 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 ProShares Ultra 20+ Year Treasury, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 46.0. A bullish investor could look at UBT's 29.1 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), UBT's low point in its 52 week range is $60.93 per share, with $97.00 as the 52 week high point — that compares with a last trade of $68.01. ProShares Ultra 20+ Year Treasury shares are currently trading off about 1.4% on the day.