Though I am relatively newbie but will share what I understand,...

Though I am relatively newbie but will share what I understand, more experienced can correct me. Oversold in simple terms mean the market sentiment is negative for a particular stock and lot of selling happening as a result or not enough (big)buyers. If you are trading it becomes more important and there should be shift in sentiment but when/how/if it will happen, no one knows. They are just predicting based on previous stock movement, volume/price.
If you look at previous posts their indicator are telling oversold since it reached 16 and still it went down way further hovering at 13.5. so in reality no one knows how it's gonna change if at all in near future.

On the other end If you are investing with longer time frame, better to research and have belief in the company before investing big and don't get too much concerned about the short term stock price. Easy to say then to practice, but I think that's what differentiates us newbie vs vaterans.

AIMHO, DYOR.