×

2 struggling stocks to snag on weakness

After stocks carried their October momentum into November, "Fast Money" traders picked struggling names that look primed to rebound.

The S&P 500 rose more than 1 percent Monday in November's first trading day, after climbing 8 percent last month. Nordstrom and FireEye missed out on the October party, falling about 9 and 20 percent for the month, respectively.

Both stocks closed just above 52-week lows Monday, and some traders believe they could be set up for a rally.

"I really don't know why [Nordstrom] has failed as much as it had," said trader Pete Najarian.

A Nordstrom store in Irvine, California.
Scott Mlyn | CNBC
A Nordstrom store in Irvine, California.

Nordstrom's progress in discount retail and e-commerce sets it up for success, he contended. Trader David Seaburg added he would not own the stock outright, but it makes a "great" short-term trade.

Read MoreCashin: 'Santa Claus' rally will be cut in half

Cybersecurity firm FireEye had a key reversal Monday, when it rose 5 percent, said trader Guy Adami. He sees more upside for the stock moving forward.

Trader Tim Seymour added that investors can start to "nibble" at FireEye but should use caution with the high-spending company.

Disclosures:

Tim Seymour

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

Pete Najarian

Long AAPL, AMAT, BAC, BMY, BP, CSX, DIS, DISCA, DKS, FOXA, GE, KKR, KO, MRK, PEP, PFE, PHM he is long calls AAPL, ABX, AIG, BEE, COP, DAL, ETFC, FIT, FL, GILD, GPRO, JOY, LM, LUK, MRK, PBR, POT, SLV, SWFT, UA, UAL, WYNN, XLF, VZ, ZIOP, he is long puts EWW, FCX, MRO, TSLA

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc

Guy Adami

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