Hey Vanessa. We're not huge advocates of getting greedy. If we see a company that we like, especially one that has dipped as much as Enghouse has, we tend to pounce.
However, you kind of have to ask yourself how disappointed would you be if you DIDN'T get a position in the company? For example, lets say we use the 14 day RSI as a signal, a common technical metric, and the only one I use to time entries sometimes.
Enghouse currently sits at a 14 day RSI of 38.5. I'm not sure how familiar you are with the Relative Strength Index, but anything below 30 is deemed oversold, or due for a short term bounce back, and anything above 70 is deemed overbought, or due for a short term pullback.
Now, year to date there has been 1 instance of Enghouse entering oversold territory. That was back in March. It recovered in a big way. There has also been 4 times this year where Enghouse entered overbought territory. It's share price corrected and fell 3 out of 4 of those times. So although not definitively accurate, it's a very strong technical indicator.
So, getting back on track here. The reason I ask how upset you'd be if you didn't get a position is because you could try and see if Enghouse does enter oversold territory and decide that would be your entry point. You'd just have to accept the fact it may never hit these levels, and bounces back sooner.
Or, you could simply take a position now if you liked the company. It hasn't been this cheap since early June. Keep in mind however, this company is still expensive, trading at a 32% premium to its 5 year historical price to earnings.
I hope this answer helped, and didn't confuse. Let me know either way.