In trading on Wednesday, shares of the PowerShares 1-30 Laddered Treasury Portfolio ETF ( PLW) entered into oversold territory, changing hands as low as $32.531 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 PowerShares 1-30 Laddered Treasury Portfolio, the RSI reading has hit 24.2 — by comparison, the RSI reading for the S&P 500 is currently 52.1. A bullish investor could look at PLW's 24.2 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), PLW's low point in its 52 week range is $31.88 per share, with $35.81 as the 52 week high point — that compares with a last trade of $33.26. PowerShares 1-30 Laddered Treasury Portfolio shares are currently trading off about 1.2% on the day.