Ambarella, GoPro, Kindred Healthcare, Waddell & Reed: How to Trade

NEW YORK (TheStreet) -- With the market closing Tuesday in a three-day losing streak we are keeping an eye on four charts: two of them are bullish while the other two could provide you with opportunities to make money by short-selling them when the market falls.

Starting with stocks to hold in your portfolio, we have Ambarella (AMBA) , a supplier of processors for professional video compression, digital cameras and IP cameras, which had a very good session on Monday in a down market, up 84 cents to $39.59, while closing Tuesday around $41, up nearly 21% for the year to date. The stock recently broke out of a rounding bottom point and rose through lateral resistance at the highs from January and March. 

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After a three-day run, AMBA pulled back on Friday, but held up pretty well and may be consolidating here. In the bigger picture, the stock is in a very strong, long-term, rising pattern and has a lot of room to run if the market cooperates.

GoPro (GPRO) is still looking good, too. Shares of the maker of portable cameras have been flagging after its big run-up in the last month. It twice held key support around $63.25-$63.75, and looks poised to move higher. A move through recent highs at $71.50 could take GPRO to the high-$70s and then the mid-$80s. It trades around $73, up nearly 133%.

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