These three stocks will send the Dow to 20,000

Three stocks that will drive the Dow to 20K

A week of new record highs for the Dow has upped speculation that the index could hit 20,000, and Rich Ross of Evercore ISI thinks he knows the three stocks that could take it there.

The first of these stocks is Caterpillar, the Dow's best-performing stock in 2016, up some 40 percent year to date. What's more, a "nice uptrend" that's been forming over the past few months has been reinforced by a breakout over what Ross sees as support.

"That tells me regardless of what you think about the world, Caterpillar is a buy on that breakout," Ross said Tuesday on CNBC's "Fast Money."

The second stock that has caught Ross' eye is oil giant Chevron. Despite a strengthening dollar and recent decline in crude prices, both of which would normally drag down energy stocks, Chevron has climbed about 23 percent year to date, rising over 9 percent in just the past month alone. Ross also sees a breakout above support and the 200-week moving average, something the technician says the stock hasn't done since more than two years ago.

Finally, Ross also sees Goldman Sachs as a key Dow driver, up about 22 percent since the election and one of the best-performing financials. The extra boost from the postelection Trump rally has now put Goldman at over 17 percent year to date, and Ross believes that "there's another $50 of upside" in the banking stock.

The Dow hit another intraday record on Wednesday at 19,045, with Caterpillar contributing the most gains.