chart.renderer.label('max observation', 340, 50, 'callout', point.plotx + chart.plotleft, point.ploty + chart.plottop)
in this block you set the location of the label to a region which isn't on your chart.
chart.renderer.label('max observation', 250, 50, 'callout', point.plotx + chart.plotleft, point.ploty + chart.plottop)
here it is changed to be back on the chart. here is the jsfiddle - http://jsfiddle.net/54tnht7b/2/
was this what you were looking for?
i would approach this differently.
i would use the standard functionality of the tool tip for the part that you need activate on hover, and use a separate pop up on click.
see this answer for an example:
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