Transports just hit a new high, and a key component could drive it higher

Trading Nation: Will FedEx deliver?

Transports hitting a new intraday all-time high on Monday, and there's one key component that could drive the Dow Transports even higher.

FedEx has been on a record run this year, tracking for its best annual performance since 2013. The rally could continue thanks to three things that are moving right now, according to Boris Schlossberg, managing director of FX strategy at BK Asset Management.

First, Schlossberg pointed to FedEx's dividend, which is lower than rival UPS' at around 15 percent payout, but he expects the GOP tax plan could actually draw investors to the stock.

"There could be a situation where with tax reform they have better growth and they could decide to increase their dividend, which I think is going to be a nice little benefit going forward," he said Friday on the "Trading Nation" segment of CNBC's "Power Lunch."

This, in addition to the "general global growth" picture that Schlossberg believes looks positive, could give the stock the boost it needs to add on to the 12 percent rally the stock has seen in the last month. "If you have [the tax plan] in addition to the general global growth, ... it could give very good hope for at least the next six months forward," he said.

In addition to the strong global growth picture, Chantico CEO Gina Sanchez believes the strength of "e-tailing" — online retail — will continue to drive FedEx.

"The move towards e-tailing, and the fact that retail and e-tail are both very strong right now are all very beneficial for FedEx," she said on "Power Lunch," referring to the strong November retail numbers that many believe will carry over through the holidays.

FedEx has surged about 29 percent this year. The delivery giant is set to report earnings on Tuesday afternoon.