(I mentioned before I am a new investor - keep that in mind. Likely doing things wrong, marching my bank account to the fires of Mordor)
I have tried to lower my cost basis on a number of stocks, sometime have been caught out slicing up my hand on the falling knife.
PLV would be my worst example of failed averaging down. I speculate its because it is speculative and been through some bad bad times so support levels don't seem to hold.
That being said, I have average down successfully (At this current time!?) on stocks such as ILU second dip to $8 range as IMO the stock is worth more and historically shown good support at these levels. RMS is an another case of a battered stock but seems to show good support at 0.39ish with a nice double bottom formed - so I have felt reasonable confident averaging down (from a questionable 0.55 buy).
In my successful cases, I have sat back for and waited for the support and fundamentals to be stable before averaging down. Will do the same with PLV after somewhat unsuccessful attempts by buys in the 0.3's and 0.2's to average down - should of waited!
PLV Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
