Waiting for a somewhat better entry price is probably a good idea, although the wide moat and high caliber of the company makes it worth watching. (simplysafedividends.com)
Try to get in at a good entry price then hold for long term while trying to average down like you said. (dividendsdiversify.com)
One strategy I frequently used was to find companies that I would like to invest in, wait for a good entry price and then purchase long - term call options (1 - 2 year expirations). (dividendempire.com)