Interesting point @alhambra thank you. I have heard of pound...

Interesting point @alhambra thank you. I have heard of pound cost averaging. However that is simply buying on a regular basis. This is completely different.
You say buy your first batch at the bottom. How do you know when you reach the bottom? Lets keep this focused on Mesoblast. Price drifting downwards, more so recent few days as volume picked up. Suspect co-ordinated effort to add to genuine spooked sellers. I have to discount insider trading.
Announcement comes out, lets say bad or inconclusive, price will drop lower. If good then could be a rather big rebound even before the market opens depending on what it is, it could be much higher, so you miss the bottom on good news.
So then you buy another tranche when it reaches a new high. What do you call a new high for Mesoblast? Is it the high in the last month, year or in its history? Then how much do you allow it to go up before a new high counts. If it dips, simply because of profit taking, do you stop then or hold for the next rise? I would have thought someone as analytical as yourself must have a target price/range that you would consider it becoming "frothy" and might sell while the market pauses or dips before the next big announcement/milestone.
If you have time, would like to understand more.
As I have said before I am not a trader. I was more concerned with the big rise and not the odd dollar. When it dropped I brought some more until I had invested the maximum I was prepared to and hold for a reasonable time. So now I wait. But always happy to learn more about trading if you care to enlighten.
Thanks
Yelrom