Despite losing recent matches which has prompted calls from Trotters fans for Megson to go, Davies has revealed that the players are sticking by their under-fire boss.
"There's been a bit going on. But as players we're very much together. We've been in this situation before and we can call on that experience," Davies said.
"Heads can go down if you look at the table but with the way we went about things today (against Fulham) we can take positives.
"We have lost the last three or four games. But we have faced some difficult sides. We have since had a good week's training. The spirit was good."