Oversold
An oscillator in the lower zone: losses were strong relative to bounces.
Oversold is the mirror of overbought: the oscillator drops into the lower part of its scale, usually below 30. It says declines have outweighed bounces, but promises no reversal. In a range, oversold at the lower boundary is a workable reference for a bounce; in a strong downtrend the oscillator sticks at the bottom for a long time, and buying on oversold turns into catching a falling knife.