Yep; exactly. People holding the stock know what they have; won't be selling their positions. Few AVXL sellers today. People want to keep what they own. Imagine that.
I might say ,the low volume suggests that people are not much interested in selling at this price level. Investors and traders are looking for the bottoms to buy more. and maybe also people are getting nervous about the global economy and stock market jitters thinking about possible collapse to come.