To Place Text Above or Below an Element

Select the Place Text Along tool.

The Text Editor window opens if it is not already open.
Select Above Element or Below Element .
In the Text Editor window, type the text.
Select the element above or below which you want to place the text. The data point positions the left-to-right origin of the text element. A preview is shown.
Enter a data point to accept the text.

Place Text Along with method set to Above Element (left), Below Element (right), and L denotes Active Line Spacing.