4 beaten down names to watch

As U.S. stocks rallied to end the week, CNBC "Fast Money" traders looked at some beaten down names that could have upside moving forward.

Shake Shack

Fast casual chain Shake Shack has endured a rough patch, losing more than 10 percent of its value in the last month. After a jump of about 5 percent Friday, the stock has gained some momentum, trader Dan Nathan contended.

Shares of Shake Shack closed the day at about $45. Nathan would own the stock using $40 as a stop ahead of its earnings early next month.

Scott Mlyn | CNBC

Pedestrians walk in front of a Shake Shack location in New York.

Micron

Shares of chipmaker Micron have plummeted about 50 percent this year. But the stock climbed about 3 percent on Friday.

Read MoreWave of consolidation hits chipmakers

Trader Steve Grasso, who owns Micron shares, said the company may be "challenged" enough to rise more from here.

U.S. Steel

U.S. Steel has also gone through a difficult run amid lower commodity prices. Shares have plunged about 56 percent this year.

If the price of steel "ever stabilizes," the stock could rise significantly, contended trader Guy Adami.

iShares MSCI Brazil Capped ETF

Amid a sluggish economy and political turmoil in Brazil, the iShares MSCI Brazil Capped ETF has fallen 35 percent this year.

"Take a look at this one long term," said trader Tim Seymour.

Disclosures:

Tim Seymour

Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JPM, KO, LGF, T. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.

Dan Nathan

Dan is long AMAT Jan call spread, PYPL Oct call calendar, BA Oct put spread, INTC Dec put spread, XLF Dec put spread, IWM Dec put spread, XLI Dec put spread, TWTR

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.

Steve Grasso

Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long IBM, AMZN kids own EFA, EFG, EWJ, IJR, SPY