Krispy Kreme (KKD) Higher for Second Straight Session

Shares of Krispy Kreme Doughnuts (NYSE: KKD) are surging for the second straight session on no news. Shares are up 16% today after rising 12.5% yesterday. Traders are sighting a technical breakout for the move higher. The stock price moved above a very strong resistance level yesterday --a trend line that has held up since the end of 2007.

One trader also told StreetInsider.com that there is also a chance that Nelson Peltz could be building a stake in the company again through his Trian hedge fund. After building up a large stake in Krispy Kreme late last year, Peltz liquidated the stake this year. This was the second time Peltz was involved with KKD. In 2004 Peltz was looking at buying a big chunk in the doughnut chain, but after doing some due diligence he found out it was making most of its money selling the franchisees equipment, not doughnuts. He passed on the company, which later fell-apart.

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