It is called analysis based on close observation, not some wild conjecture. The analysis follows basic rules of trading, in addition to multi-year activity by shorts with respect to ADXS.
Just as longs sell once a stock goes up quickly and the technical indicators seem over extended, shorts cover to the extent possible once they foresee limited gains on the downside. And with ADXS specifically, HFT has been used as a relentless weapon. Even anecdotal observation on L2 will show you this (like a slap in anyone's face, it just cannot be missed).
In any case, feel free to call it conjecture, it doesn't bother me.