diff --git a/src/plugins/graph/adornments/movable-line/movable-line-model.ts b/src/plugins/graph/adornments/movable-line/movable-line-model.ts
index 9279264a7a..f5ffbd1cb7 100644
--- a/src/plugins/graph/adornments/movable-line/movable-line-model.ts
+++ b/src/plugins/graph/adornments/movable-line/movable-line-model.ts
@@ -8,8 +8,12 @@ import { kMovableLineType } from "./movable-line-types";
 import { IGraphModel } from "../../models/graph-model";
 import { IClueObject } from "../../../../models/annotations/clue-object";
 
-export function getAnnotationId(lineKey: string, position: string) {
-  return `movable_line_handle:${lineKey}:${position}`;
+export function getAnnotationId(lineKey: string, type: "handle"|"equation", position?: "lower"|"upper") {
+  if (position) {
+    return `movable_line_${type}:${lineKey}:${position}`;
+  } else {
+    return `movable_line_${type}:${lineKey}`;
+  }
 }
 
 export const MovableLineInstance = types.model("MovableLineInstance", {
@@ -123,8 +127,9 @@ export const MovableLineModel = AdornmentModel
     const objects: IClueObject[] = [];
     if (self.isVisible) {
       for (const key of self.lines.keys()) {
-        objects.push({ tileId, objectType: "movable-line-handle", objectId: getAnnotationId(key, "lower") });
-        objects.push({ tileId, objectType: "movable-line-handle", objectId: getAnnotationId(key, "upper") });
+        objects.push({ tileId, objectType: "movable-line-handle", objectId: getAnnotationId(key, "handle", "lower") });
+        objects.push({ tileId, objectType: "movable-line-handle", objectId: getAnnotationId(key, "handle", "upper") });
+        objects.push({ tileId, objectType: "movable-line-equation", objectId: getAnnotationId(key, "equation") });
       }
     }
     return objects;
diff --git a/src/plugins/graph/adornments/movable-line/movable-line.tsx b/src/plugins/graph/adornments/movable-line/movable-line.tsx
index 5ead1e7897..776347c4d8 100644
--- a/src/plugins/graph/adornments/movable-line/movable-line.tsx
+++ b/src/plugins/graph/adornments/movable-line/movable-line.tsx
@@ -1,7 +1,7 @@
 import React, {useCallback, useContext, useEffect, useRef, useState} from "react";
 import {autorun} from "mobx";
 import { observer } from "mobx-react-lite";
-import {drag, select} from "d3";
+import { drag, select, Selection} from "d3";
 import {useAxisLayoutContext} from "../../imports/components/axis/models/axis-layout-context";
 import {ScaleNumericBaseType} from "../../imports/components/axis/axis-types";
 import {INumericAxisModel} from "../../imports/components/axis/models/axis-model";
@@ -84,6 +84,14 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
     }
   }, [kHandle1Loc, kHandle2Loc]);
 
+  const positionEquation = useCallback((elt: Selection<HTMLElement, unknown, HTMLElement, any>, point: Point) => {
+    elt.style('left', `${point.x}px`)
+        .style('top', `${point.y}px`);
+    if (model.isVisible) {
+      annotationLocationSetter?.set(getAnnotationId(instanceKey, "equation"), point);
+    }
+  }, [annotationLocationSetter, instanceKey, model]);
+
   // Refresh the line
   useEffect(function refresh() {
       const disposer = autorun(() => {
@@ -134,7 +142,7 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
             elt
               .attr('cx', x)
               .attr('cy', y);
-            const annotationId = getAnnotationId(instanceKey, index===1 ? "lower" : "upper");
+            const annotationId = getAnnotationId(instanceKey, "handle", index===1 ? "lower" : "upper");
             if (model.isVisible) {
               annotationLocationSetter?.set(annotationId, { x, y });
             } else {
@@ -146,22 +154,26 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
         function refreshEquation() {
           if (!pointsOnAxes.current) return;
           const
-            screenX = xScale((pointsOnAxes.current.pt1.x + pointsOnAxes.current.pt2.x) / 2) / xSubAxesCount,
-            screenY = yScale((pointsOnAxes.current.pt1.y + pointsOnAxes.current.pt2.y) / 2) / ySubAxesCount,
             attrNames = {x: xAttrName, y: yAttrName},
             string = equationString(slope, intercept, attrNames),
-            equation = select(equationContainerSelector).select('p');
+            equation = select<HTMLElement,unknown>(equationContainerSelector).select<HTMLElement>('p');
 
           select(equationContainerSelector)
             .style('width', `${plotWidth}px`)
             .style('height', `${plotHeight}px`);
           equation.html(string);
-          // The equation may have been unpinned from the line if the user
-          // dragged it away from the line. Only move the equation if it
-          // is still pinned.
-          if (!lineModel?.currentEquationCoords) {
-            equation.style('left', `${screenX}px`)
-              .style('top', `${screenY}px`);
+
+          const fixedCoords = lineModel?.currentEquationCoords;
+          if (fixedCoords) {
+            // The equation is unpinned -- the user dragged it away from the line. Use stored position.
+            // It is stored in the model as a fraction of the graph height & width.
+            positionEquation(equation, { x: fixedCoords.x*plotWidth, y: fixedCoords.y*plotHeight });
+          } else {
+            // Pinned to line; calculate position.
+            const
+              screenX = xScale((pointsOnAxes.current.pt1.x + pointsOnAxes.current.pt2.x) / 2) / xSubAxesCount,
+              screenY = yScale((pointsOnAxes.current.pt1.y + pointsOnAxes.current.pt2.y) / 2) / ySubAxesCount;
+            positionEquation(equation, { x: screenX, y: screenY });
           }
         }
 
@@ -187,7 +199,7 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
       });
       return () => disposer();
     }, [instanceId, layout, pointsOnAxes, lineObject, plotHeight, plotWidth, xScale, yScale, model, model.lines,
-        xAttrName, xSubAxesCount, xAxis, yAttrName, ySubAxesCount, yAxis, xRange, yRange,
+        xAttrName, xSubAxesCount, xAxis, yAttrName, ySubAxesCount, yAxis, xRange, yRange, positionEquation,
         equationContainerSelector, subPlotKey, instanceKey, calculateHandlePosition, annotationLocationSetter]
   );
 
@@ -293,7 +305,7 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
 
     moveEquation = useCallback((event: { x: number, y: number, dx: number, dy: number }) => {
       if (event.dx !== 0 || event.dy !== 0) {
-        const equation = select(`${equationContainerSelector} p`),
+        const equation = select<HTMLElement,unknown>(`${equationContainerSelector} p`),
           equationNode = equation.node() as Element,
           equationWidth = equationNode?.getBoundingClientRect().width || 0,
           equationHeight = equationNode?.getBoundingClientRect().height || 0,
@@ -304,11 +316,10 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
           x = left / plotWidth,
           y = top / plotHeight;
 
+        positionEquation(equation, { x: left, y: top });
         model.dragEquation({x, y}, instanceKey);
-        equation.style('left', `${left}px`)
-          .style('top', `${top}px`);
       }
-    }, [equationContainerSelector, instanceKey, model, plotWidth, plotHeight]),
+    }, [equationContainerSelector, plotWidth, plotHeight, positionEquation, model, instanceKey]),
 
     endMoveEquation = useCallback(() => {
       model.saveEquationCoords(instanceKey);
@@ -373,21 +384,11 @@ export const MovableLine = observer(function MovableLine(props: IProps) {
       .style('width', `${plotWidth}px`)
       .style('height', `${plotHeight}px`);
 
-    const equationP = equationDiv
-      .append('p')
+    equationDiv
+      .append<HTMLElement>('p')
       .attr('class', 'movable-line-equation')
       .attr('data-testid', `movable-line-equation-${model.classNameFromKey(subPlotKey)}`);
 
-    // If the equation is not pinned to the line, set its initial coordinates to
-    // the values specified in the model.
-    const equationCoords = model.lines?.get(instanceKey)?.currentEquationCoords;
-    if (equationCoords) {
-      const left = equationCoords.x * 100,
-        top = equationCoords.y * 100;
-      equationP.style('left', `${left}%`)
-        .style('top', `${top}%`);
-    }
-
     newLineObject.equation = equationDiv;
     setLineObject(newLineObject);