In trading on Wednesday, shares of the Vanguard Long-Term Government Bond ETF ( VGLT) entered into oversold territory, changing hands as low as $71.92 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 Vanguard Long-Term Government Bond, the RSI reading has hit 29.7 — by comparison, the RSI reading for the S&P 500 is currently 46.0. A bullish investor could look at VGLT's 29.7 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), VGLT's low point in its 52 week range is $69.07 per share, with $84.70 as the 52 week high point — that compares with a last trade of $71.98. Vanguard Long-Term Government Bond shares are currently trading off about 0.6% on the day.