The dotted line is life high of nestle in April 20. Since then nestle didn't gave a proper sustainable close above that high.
Tried once to close above it but was easily rejected. Now that high is coinciding with the upper rang of the narrow range marked.
This major hurdle zone can be taken out with a sharp move.
if you observe closely the last 3 bars are the biggest, stock is moving in expansion phase. In this phase stocks give trendy moves & breakouts.
18100 to 19500 🤟🏾