In trading on Wednesday, shares of the SPDR MSCI EAFE StrategicFactors ETF (QEFA) entered into oversold territory, changing hands as low as $51.96 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 MSCI EAFE StrategicFactors, the RSI reading has hit 27.5 — by comparison, the RSI reading for the S&P 500 is currently 65.4. A bullish investor could look at QEFA's 27.5 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), QEFA's low point in its 52 week range is $48.77 per share, with $59.99 as the 52 week high point — that compares with a last trade of $51.96. SPDR MSCI EAFE StrategicFactors shares are currently trading off about 0.6% on the day.