Saving an Avocado Plant?

My avocado plant is about 2 yrs old. It grew pretty tall, has huge leaves and a couple branches. I went on vacation and my plant waterer failed miserably and I came home to 1 dead and 1 mostly dead avocado plant. The leaves have mostly fallen off, but I see new growth at the top. Can I cut the top bits off and replant in hopes to revive it?

Help! Thanks in advance!