Is this the end for Noble?

Highly touted Noble, and the best performing stock of the STI last year, is displaying worrying signs on its chart. After forming black candles for the past few sessions, it gapped down on high volumes today. It is seemingly forming a double-top formation. This, in spite of a glowing analyst report that raised its target price to $3.70 today. Could this be the beginning of the end for this top performer? And could this signal the end of the first phase of the bull run, where funds flow out of the blue chips to the mid-tier and penny stocks?