In trading on Friday, shares of the SPDR S&P Emerging Markets Dividend ETF ( EDIV) entered into oversold territory, changing hands as low as $25.21 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 SPDR S&P Emerging Markets Dividend, the RSI reading has hit 28.7 — by comparison, the RSI reading for the S&P 500 is currently 55.9. A bullish investor could look at EDIV's 28.7 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), EDIV's low point in its 52 week range is $20.63 per share, with $29.88 as the 52 week high point — that compares with a last trade of $25.29. SPDR S&P Emerging Markets Dividend shares are currently trading off about 3.2% on the day.