For a three-act plot analysis, put on your screenwriter’s hat. Moviemakers know the formula well: at the end of Act One, the main character is drawn in completely to a conflict. During Act Two, she is farthest away from her goals. At the end of Act Three, the story is resolved.
Act I
Kino finds a valuable pearl.
Act II
The valuable pearl destroys Kino's life.
Act III
Kino throws away the valuable pearl.