Controlling item lot status update using ERES

Does anyone know if it is possible to define ERES using the Lot Update event, to only trigger when an item lot is in a specific status? 

Example:  when logged in with a responsibility which normally has access to Lot Status change, an item lot status is HOLD, we want ERES to trigger.  However, when the item lot status is anything else, like INSPECT, ACTIVE, etc., the ERES should not trigger.

Suggestions?