Transportation stocks were expected to benefit from lower oil prices and while that has been the case for airline stocks, other industry groups represented in IYT, including railroads, have struggled.

IYT’s charts indicate the ETF could be primed for a near-term pullback.

Related: Sector ETFs to Watch in This Earnings Season

“The weekly chart for the transportation ETF is positive but overbought with the ETF just above its key weekly moving average of $140.22, and above its 200-week simple moving average of $130.88. The weekly momentum reading is projected to slip to 84.49 this week down from 85.68 on April 29, both above the overbought threshold of 80.00,” according to TheStreet.com.

Market observers are optimistic about a cyclical recovery where U.S. consumers and businesses spend more, which would add to increased activity through railways and transportation sectors. Railroads are popular plays among some of the largest investors, including Bill Gates and Warren Buffett.

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iShares Transportation Average ETF

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